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| DOI | 10.1016/j.enpol.2021.112386 |
| Modelling U.S. gasoline demand: A structural time series analysis with asymmetric price responses | |
| Dilaver Z.; Hunt L.C. | |
| 发表日期 | 2021 |
| ISSN | 03014215 |
| 卷号 | 156 |
| 英文摘要 | This research aims to estimate a gasoline demand function for the U.S. using a stochastic exogenous trend model with asymmetric price responses. It is, as far as is known, the first attempt to model U.S. gasoline demand using this combined approach. The Structural Time Series Model is therefore employed for annual data over the period 1949–2019 allowing for both asymmetric price responses (for technical progress to affect demand endogenously) and an underlying energy demand trend for gasoline (for technical progress and other factors to affect demand exogenously in a linear or non-linear way). It is found that for U.S. per capita gasoline demand, the estimated long-run income elasticity is 0.41, the estimated long-run price-max elasticity is −0.31, the estimated long-run price-recovery elasticity is −0.15, and the estimated long-run price-cut elasticity is −0.14. In addition, the estimated underlying energy demand trend for U.S. per capita gasoline demand is non-linear with periods when it is increasing and periods when it is decreasing. © 2021 Elsevier Ltd |
| 关键词 | Asymmetric price responsesPrice and income elasticitiesStructural time series modelU.S. gasoline demandUnderlying energy demand trend (UEDT) |
| 英文关键词 | Economic analysis; Energy management; Functions; Gasoline; Stochastic models; Stochastic systems; Time series analysis; Asymmetric price response; Gasoline demand; Income elasticities; Longest run; Price response; Price-elasticity; Structural time series models; Technical progress; Underlying energy demand trend; US gasoline demand; Elasticity; demand elasticity; demand-side management; income; numerical model; petroleum; price dynamics; time series analysis; United States |
| 语种 | 英语 |
| 来源期刊 | Energy Policy
 |
| 文献类型 | 期刊论文 |
| 条目标识符 | http://gcip.llas.ac.cn/handle/2XKMVOVA/205074 |
| 作者单位 | The Presidency of Republic of Turkey, Ankara, PK 06560, Turkey; Economics and Finance, University of Portsmouth, United Kingdom |
| 推荐引用方式 GB/T 7714 | Dilaver Z.,Hunt L.C.. Modelling U.S. gasoline demand: A structural time series analysis with asymmetric price responses[J],2021,156. |
| APA | Dilaver Z.,&Hunt L.C..(2021).Modelling U.S. gasoline demand: A structural time series analysis with asymmetric price responses.Energy Policy,156. |
| MLA | Dilaver Z.,et al."Modelling U.S. gasoline demand: A structural time series analysis with asymmetric price responses".Energy Policy 156(2021). |
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