Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/83317
Authors: 
Havránek, Tomáš
Iršová, Zuzana
Janda, Karel
Year of Publication: 
2011
Series/Report no.: 
IES Working Paper 10/2011
Abstract: 
One of the most frequently examined statistical relationships in energy economics has been the price elasticity of gasoline demand. We conduct a quantitative survey of the estimates of elasticity reported for various countries around the world. Our meta-analysis indicates that the literature suffers from publication selection bias: insignificant and positive estimates of the price elasticity are rarely reported, although implausibly large negative estimates are reported regularly. In consequence, the average published estimates of both short- and long-run elasticities are exaggerated twofold. Using mixed-effects multilevel meta-regression, we show that after correction for publication bias the average long-run elasticity reaches -0.31 and the average short-run elasticity only -0.09
Subjects: 
Gasoline demand
Price elasticity
Meta-analysis
Publication selection bias
JEL: 
C83
Q41
Q48
Document Type: 
Working Paper
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