气候变化领域集成服务门户(CCPortal): Asymmetry and hysteresis in the Russian gasoline market: The rationale for green energy exports

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DOI	10.1016/j.enpol.2021.112466
	Asymmetry and hysteresis in the Russian gasoline market: The rationale for green energy exports
	Kolesnikova A.; Fantazzini D.
发表日期	2021
ISSN	03014215
卷号	157
英文摘要	Using monthly data of 79 Russian regions from 2003 to 2017, we study the long-run relationship of the retail gasoline prices with the crude oil price and the nominal exchange rate. We find that models that were successfully applied to deal with asymmetries in other countries are not suitable for Russia without taking structural breaks into account. Once breaks are allowed, we find that there is no asymmetry in the long-run elasticities between the gasoline prices and the crude oil price, and no significant hysteresis. However, there is an asymmetric relation between the gasoline price and the exchange rate that has decreased over time. These results also hold after several robustness checks. The evidence reported in this work shows that the effects of the exchange rate on gasoline prices are much more difficult to control than the oil price, and they require a larger set of policy measures: the recent development of a plan to decrease the importance of hydrocarbons exports by producing clean hydrogen using electrolysis and pyrolysis and the potential future export of electricity generated using nuclear power and onshore wind farms may help to diversify the local economy and to shield it from new sanctions. © 2021 Elsevier Ltd
关键词	Asymmetric cointegration Gasoline market Hysteresis Panel cointegration Russia Structural breaks
英文关键词	Commerce; Costs; Crude oil; Energy policy; Hysteresis; Nuclear fuels; Petroleum analysis; Wind power; Asymmetric cointegration; Crude oil prices; Exchange rates; Gasoline market; Gasoline prices; Green energy; Longest run; Panel co integrations; Russia; Structural break; Gasoline
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/205192
作者单位	The Central Bank of Russian Federation, Moscow, Russian Federation; Moscow School of Economics - Moscow State University, Moscow, Russian Federation
推荐引用方式 GB/T 7714	Kolesnikova A.,Fantazzini D.. Asymmetry and hysteresis in the Russian gasoline market: The rationale for green energy exports[J],2021,157.
APA	Kolesnikova A.,&Fantazzini D..(2021).Asymmetry and hysteresis in the Russian gasoline market: The rationale for green energy exports.Energy Policy,157.
MLA	Kolesnikova A.,et al."Asymmetry and hysteresis in the Russian gasoline market: The rationale for green energy exports".Energy Policy 157(2021).