This paper investigates the effects that geopolitical events and/or industrial policies have had on mechanism of price transmissions in the Italian retail and wholesale gasoline markets, using weekly data over the period January 03, 2000 - November 28, 2008. We consider the interaction among crude oil price, gasoline spot price and the before tax gasoline retail price. Fromthe empirical results we have obtained it’s possible both assessing the effects of exogenous variables and verifying the presence of deviations in the gasoline market in a period of high absolute, but not relative, volatility.
Impact of Exogenous shocks on oil product market prices
ROMANO, Antonio;SCANDURRA, GIUSEPPE
2009-01-01
Abstract
This paper investigates the effects that geopolitical events and/or industrial policies have had on mechanism of price transmissions in the Italian retail and wholesale gasoline markets, using weekly data over the period January 03, 2000 - November 28, 2008. We consider the interaction among crude oil price, gasoline spot price and the before tax gasoline retail price. Fromthe empirical results we have obtained it’s possible both assessing the effects of exogenous variables and verifying the presence of deviations in the gasoline market in a period of high absolute, but not relative, volatility.File in questo prodotto:
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