{"id":2605,"date":"2016-04-20T14:16:21","date_gmt":"2016-04-20T14:16:21","guid":{"rendered":"http:\/\/www.asimmetrie.org\/?p=2605"},"modified":"2022-07-22T16:27:45","modified_gmt":"2022-07-22T15:27:45","slug":"aiswp201602","status":"publish","type":"publication","link":"https:\/\/asimmetrie.org\/en\/pubblicazioni\/aiswp201602\/","title":{"rendered":"WP 2016\/02: Price Asymmetries in the European Gasoline Market"},"content":{"rendered":"\n<p>Building on the well-established \u201crockets and feathers\u201d literature, and on the recently developed nonlinear autoregressive distributed lag (NARDL) modelling, we investigate the asymmetries in gasoline pricing on a comprehensive sample of monthly data from twelve Eurozone countries running from 1994:1 to 2014:12. The empirical results feature two robust patterns. Firstly, while the effects of exchange rate variations display a positive asymmetry (i.e., devaluations have a greater impact with respect to revaluations), crude price variations induce negative asymmetry (i.e., reductions in the price of crude oil have a greater impact than price rises). Secondly, the positive asymmetry to exchange rate changes is much stronger in core Eurozone countries. The negative asymmetry with respect to crude oil prices confirms the results of recent empirical research and theoretical models.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Building on the well-established \u201crockets and feathers\u201d literature, and on the recently developed nonlinear autoregressive distributed lag (NARDL) modelling, we investigate the asymmetries in gasoline [&hellip;]<\/p>\n","protected":false},"featured_media":8169,"template":"","tags":[],"topic":[],"publications_category":[14],"expert":[15,321],"class_list":["post-2605","publication","type-publication","status-publish","has-post-thumbnail","hentry","publications_category-working-papers","expert-alberto-bagnai","expert-christian-a-mongeau-ospina"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>WP 2016\/02: Price Asymmetries in the European Gasoline Market &#8211; a\/simmetrie<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/asimmetrie.org\/en\/pubblicazioni\/aiswp201602\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"WP 2016\/02: Price Asymmetries in the European Gasoline Market &#8211; a\/simmetrie\" \/>\n<meta property=\"og:description\" content=\"Building on the well-established \u201crockets and feathers\u201d literature, and on the recently developed nonlinear autoregressive distributed lag (NARDL) modelling, we investigate the asymmetries in gasoline [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/asimmetrie.org\/en\/pubblicazioni\/aiswp201602\/\" \/>\n<meta property=\"og:site_name\" content=\"a\/simmetrie\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/asimmetrie.org\" \/>\n<meta property=\"article:modified_time\" content=\"2022-07-22T15:27:45+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/asimmetrie.org\/wp-content\/uploads\/2016\/04\/2016_02_wp.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"900\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:site\" content=\"@AsimmetrieOrg\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/asimmetrie.org\\\/en\\\/pubblicazioni\\\/aiswp201602\\\/\",\"url\":\"https:\\\/\\\/asimmetrie.org\\\/en\\\/pubblicazioni\\\/aiswp201602\\\/\",\"name\":\"WP 2016\\\/02: Price Asymmetries in the European Gasoline Market &#8211; 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