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dc.contributor.authorHolmes, Mark J.
dc.contributor.authorOtero, Jesús
dc.contributor.authorPanagiotidis, Theodore
dc.date.accessioned2013-03-15T01:07:30Z
dc.date.available2013-03-15T01:07:30Z
dc.date.copyright2013-03
dc.date.issued2013
dc.identifier.citationHolmes, M. J., Otero, J., & Panagiotidis, T. (2013). On the dynamics of gasoline market integration in the United States: Evidence from a pair-wise approach. Energy Economics, 36, 503-510.en_NZ
dc.identifier.issn01409883
dc.identifier.urihttps://hdl.handle.net/10289/7359
dc.description.abstractThis paper employs a pair-wise approach to examine regional integration in the US gasoline market. Using gasoline price data at the state level over a period of more than two decades, we find strong support for the view that the law of one price holds in regional markets, as more than 80% of bivariate price differentials turn out to be stationary. Furthermore, we uncover evidence that the speed at which prices converge to the long-run equilibrium depends upon the distance between states. Asymmetries are also present in this relationship. Our findings suggest that the more similar are states with respect to taxation, gas stations and refining capacity, the faster is the speed of adjustment towards the long-run equilibrium.en_NZ
dc.language.isoen
dc.publisherElsevieren_NZ
dc.relation.ispartofEnergy Economics
dc.subjectGasolineen_NZ
dc.subjectMarket integrationen_NZ
dc.subjectPair-wise approachen_NZ
dc.subjectPanel dataen_NZ
dc.subjectSpeed of adjustmenten_NZ
dc.titleOn the dynamics of gasoline market integration in the United States: Evidence from a pair-wise approachen_NZ
dc.typeJournal Articleen_NZ
dc.identifier.doi10.1016/j.eneco.2012.10.008en_NZ
dc.relation.isPartOfEnergy Economicsen_NZ
pubs.begin-page503en_NZ
pubs.elements-id38112
pubs.end-page510en_NZ
pubs.volume36en_NZ
uow.identifier.article-noCen_NZ


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