A threshold cointegration analysis of asymmetric price transmission from crude oil to gasoline prices
作者： Li-Hsueh Chen , Miles Finney , Kon S. Lai
DOI: 10.1016/J.ECONLET.2005.05.037
关键词: Refinery 、 Crack spread 、 Gasoline 、 Asymmetric price transmission 、 Downstream (petroleum industry) 、 Financial economics 、 Econometrics 、 Economics 、 Upstream (petroleum industry) 、 Crude oil 、 Cointegration 、 Economics and Econometrics 、 Finance
摘要: Abstract This study provides new supportive evidence for asymmetric adjustment in U.S. retail gasoline prices. The transmission is found to occur not just through the spot markets of crude oil and refinery but also their future markets. Further shows that observed asymmetry price primarily occurs downstream – upstream process.
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