Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/86304 
Erscheinungsjahr: 
2006
Schriftenreihe/Nr.: 
Tinbergen Institute Discussion Paper No. 06-106/3
Verlag: 
Tinbergen Institute, Amsterdam and Rotterdam
Zusammenfassung: 
Automobile gasoline demand can be expressed as a multiplicative function of fuel efficiency, mileage per car and car ownership. This implies a linear relationship between the price elasticity of total fuel demand and the price elasticities of fuel efficiency, mileage per car and car ownership. In this meta-analytical study we aim to investigate and explain the variation in empirical estimates of the price elasticity of gasoline demand. A methodological novelty is that we use the linear relationship between the elasticities to develop a meta-analytical estimation approach based on a system of equations. This approach enables us to combine observations of different elasticities and thus increase our sample size. Furthermore it allows for a more detailed interpretation of our meta-regression results. The empirical results of the study demonstrate that the system of equations approach leads to more precise results (i.e., lower standard errors) than a standard! meta-analytical approach. We find that, with a mean price elasticity of -0.53, the demand for gasoline is not very price sensitive. The impact a change in the gasoline price on demand is mainly driven by a response in fuel efficiency and car ownership and to a lesser degree by changes in the mileage per car. Furthermore, we find that study characteristics relating to the geographic area studied, the year of the study, the type of data used, the time horizon and the functional specification of the demand equation have a significant impact on the estimated value of the price elasticity of gasoline demand.
Schlagwörter: 
Meta-analysis
Price elasticities
Gasoline demand
System of equations
JEL: 
C30
C42
C51
L91
Q40
Q48
Dokumentart: 
Working Paper
Erscheint in der Sammlung:

Datei(en):
Datei
Größe
333.64 kB





Publikationen in EconStor sind urheberrechtlich geschützt.