Are the transport fuel retail markets regionally integrated in Spain? Evidence from price transmission
作者： Jacint Balaguer , Jordi Ripollés
DOI: 10.1016/J.ECONMOD.2014.07.017
关键词: Economics 、 Market integration 、 Transport fuel 、 Transmission (mechanics) 、 Industrial organization 、 Commerce 、 Authorization 、 Market segmentation
摘要: Abstract In this paper we explore whether the Spanish retail fuel markets are integrated at regional level. We perform a comparative analysis of transmission international wholesale prices to prices. Our results in favor market segmentation, since degree cost pass-through differs noticeably across provinces (NUTS 3) and outcome is clearly robust exclusion island provinces. also found that more similar for those belonging same autonomous community 2). It suggested different regulations criteria regarding granting administrative authorizations from communities could be hindering integration geographical markets.
core.ac.uk
sci-hub.se 参考文章(53)
FRANK ASCHE, DANIEL V. GORDON, RÖGNVALDUR HANNESSON, Tests for market integration and the law of one price : the market for whitefish in France Marine Resource Economics. ,vol. 19, pp. 195- 210 ,(2004) , 10.1086/MRE.19.2.42629428
Jushan Bai, Pierre Perron, Estimating and testing linear models with multiple structural changes Econometrica. ,vol. 66, pp. 47- 78 ,(1998) , 10.2307/2998540
Boriss Siliverstovs, Guillaume L'Hégaret, Anne Neumann, Christian von Hirschhausen, International market integration for natural gas? A cointegration analysis of prices in Europe, North America and Japan Energy Economics. ,vol. 27, pp. 603- 615 ,(2005) , 10.1016/J.ENECO.2005.03.002
Jacint Balaguer, Testing the Market Integration Process in the European Car Sector: Evidence from Pricing-to-market Behaviour The World Economy. ,vol. 35, pp. 1502- 1529 ,(2012) , 10.1111/J.1467-9701.2012.01467.X
Chihwa Kao, Min-Hsien Chiang, On the estimation and inference of a cointegrated regression in panel data Social Science Research Network. ,vol. 15, pp. 179- 222 ,(2001) , 10.1016/S0731-9053(00)15007-8
Fabienne Ilzkovitz, Khalid Sekkat, Adriaan Dierx, Product market integration and the EU exposure to euro/dollar fluctuations Research Papers in Economics. pp. 237- 258 ,(2004) , 10.4337/9781845423407.000016
Gary R Saxonhouse, Estimated Parameters as Dependent Variables The American Economic Review. ,vol. 66, pp. 178- 183 ,(1976)
Mark J. Holmes, Jesús Otero, Theodore Panagiotidis, On the dynamics of gasoline market integration in the United States: Evidence from a pair-wise approach Energy Economics. ,vol. 36, pp. 503- 510 ,(2013) , 10.1016/J.ENECO.2012.10.008
Michael Gasiorek, Russell Davidson, Steve Davies, Bruce Lyons, David Ulph, Richard Vaughan, The impact of a single currency in Europe on product markets: theory and evidence European Integration and the Functioning of Product Markets. ,(2002) , 10.4337/9781845423407.00009
Adriaan Dierx, Fabienne Ilzkovitz, Khalid Sekkat, Product market integration in the EU: an overview European Integration and the Functioning of Product Markets. pp. 1- 13 ,(2004) , 10.4337/9781845423407.00007