Price regulations and price adjustment dynamics : evidence from the Austrian retail fuel market

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dc.contributor.authorSchweikert, Karstende
dc.contributor.authorFasoula, Evanthiade
dc.date.accessioned2024-04-08T08:55:46Z
dc.date.available2024-04-08T08:55:46Z
dc.date.created2018-05-02
dc.date.issued2018
dc.description.abstractAfter controversial public debates, fuel price regulations were implemented in Austria prohibiting fuel retailers from raising their prices more than once per day. This paper investigates whether these policy measures affected the price transmission dynamics from crude oil prices to retail fuel prices. We estimate different specifications of nonlinear error correction models to quantify a potentially asymmetric adjustment behaviour and compare the results over three subsamples. Particularly, we estimate our models for a pre-regulation period, a between-regulations and a post-regulation period. At first glance, we obtain conflicting results on the efficacy of this policy measure. While the adjustment to the long-run equilibrium seems to be faster if crude oil prices are relatively low, transitory crude oil price decreases are passed through faster than price increases. Only if we consider the combined effect of a crude oil price shock, we can reveal that crude oil price changes are generally passed through faster in the postregulation period. Further, we find that crude oil price decreases are now passed through slightly faster than crude oil price increases. Hence, we conclude that the Austrian fuel price regulation seems to have fostered competition between fuel retailers.de
dc.identifier.swb502578866
dc.identifier.urihttps://hohpublica.uni-hohenheim.de/handle/123456789/6264
dc.identifier.urnurn:nbn:de:bsz:100-opus-14818
dc.language.isoeng
dc.relation.ispartofseriesHohenheim discussion papers in business, economics and social sciences; 2018,08
dc.rights.licensepubl-mit-poden
dc.rights.licensepubl-mit-podde
dc.rights.urihttp://opus.uni-hohenheim.de/doku/lic_mit_pod.php
dc.subjectAsymmetric price transmissionen
dc.subjectPrice regulationen
dc.subjectNonlinear error correction modelen
dc.subjectRetail fuel pricesen
dc.subjectCrude oil pricesen
dc.subject.ddc330
dc.subject.gndPreisregelungde
dc.titlePrice regulations and price adjustment dynamics : evidence from the Austrian retail fuel marketde
dc.type.dcmiTextde
dc.type.diniWorkingPaperde
local.accessuneingeschränkter Zugriffen
local.accessuneingeschränkter Zugriffde
local.bibliographicCitation.publisherPlaceUniversität Hohenheimde
local.export.bibtex@techreport{Schweikert2018, url = {https://hohpublica.uni-hohenheim.de/handle/123456789/6264}, author = {Schweikert, Karsten and Fasoula, Evanthia}, title = {Price regulations and price adjustment dynamics : evidence from the Austrian retail fuel market}, year = {2018}, school = {Universität Hohenheim}, series = {Hohenheim discussion papers in business, economics and social sciences}, }
local.export.bibtexAuthorSchweikert, Karsten and Fasoula, Evanthia
local.export.bibtexKeySchweikert2018
local.export.bibtexType@techreport
local.faculty.number3de
local.institute.number520de
local.opus.number1481
local.series.issueNumber2018,08
local.series.titleHohenheim discussion papers in business, economics and social sciences
local.universityUniversität Hohenheimde
local.university.facultyFaculty of Business, Economics and Social Sciencesen
local.university.facultyFakultät Wirtschafts- und Sozialwissenschaftende
local.university.instituteInstitute for Economicsen
local.university.instituteInstitut für Volkswirtschaftslehrede

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