Highlights ► Considers gas consumption, car ownership, income, and price for 14 OECD countries. ► Variables are panel I(1) and cointegrated. ► Estimated long- and short-run elasticities are smaller than most previous ones. ► Estimates agree with literature arguing that gasoline price is now more inelastic.

    Abstract This paper looks at relationships between gasoline consumption per capita, income, gasoline price, and car ownership for a panel of OECD countries. Estimated long-run and short-run income elasticities are smaller than typically found and gasoline consumption is Granger-caused by gasoline price, but not by car ownership or income. Car ownership is Granger-caused by income and at the margin by gasoline consumption, but not by gasoline price.


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    Title :

    The systemic, long-run relation among gasoline demand, gasoline price, income, and vehicle ownership in OECD countries: Evidence from panel cointegration and causality modeling


    Contributors:


    Publication date :

    2012-01-01


    Size :

    5 pages




    Type of media :

    Article (Journal)


    Type of material :

    Electronic Resource


    Language :

    English