Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/194914 
Year of Publication: 
2018
Citation: 
[Journal:] Journal of Economic Structures [ISSN:] 2193-2409 [Volume:] 7 [Issue:] 9 [Publisher:] Springer [Place:] Heidelberg [Year:] 2018 [Pages:] 1-14
Publisher: 
Springer, Heidelberg
Abstract: 
This article is concerned with disequilibrium regime switching model to capture different regimes in the US gasoline markets. The purpose is to illustrate potential regimes in gasoline market. Following a suggestion in Hunter and Tabaghdehi (Cointegration and US regional gasoline prices: testing market efficiency from the stationarity of price proportions. Brunel University Working Paper, 13-03, 2013a), gasoline markets may not be efficient either across regions or within local markets. The Markov model may also be used as a benchmark to make comparison with other methods. The finding specifies that deviations from long-run equilibrium have an effect on gasoline price dynamics and captures two different regimes of supply and demand in this market.
Subjects: 
Gasoline
Disequilibrium
Regime switching
Energy market efficiency
Collusion
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by Logo
Document Type: 
Article

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