A review of the evidence on the relation between crude oil prices and petroleum product prices

被引：42
作者：
Ederington, Louis H. [1 ]
Fernando, Chitru S. [1 ]
Hoelscher, Seth A. [2 ]
Lee, Thomas K. [3 ]
Linn, Scott C. [1 ]
机构：
[1] Univ Oklahoma, Price Coll Business, 307 West Brooks, Norman, OK 73019 USA
[2] Missouri State Univ, Coll Business, 901 S Natl Ave, Springfield, MO 65897 USA
[3] US DOE, US Energy Informat Adm, 1000 Independence Ave SW, Washington, DC 20585 USA
来源：
JOURNAL OF COMMODITY MARKETS | 2019年 / 13卷
关键词：
Oil prices; Petroleum product prices; Energy economics; Commodities; RETAIL GASOLINE PRICES; ERROR-CORRECTION; LOCAL MARKET; FEATHERS; ROCKETS; COINTEGRATION; ADJUSTMENT; SEARCH; CYCLES; NONLINEARITIES;
D O I：
10.1016/j.jcomm.2018.09.002
中图分类号：
F8 [财政、金融];
学科分类号：
0202 ;
摘要：
We review a large body of the empirical literature focusing on the relation between petroleum product prices and oil prices and discuss the evidence on the direction of causality between crude oil prices and petroleum product prices. In addition, we survey the literature on the much-debated question of whether petroleum product prices respond differently to increases versus decreases in oil prices, which Bacon (1991) labeled the "rockets and feathers" phenomenon.
引用
收藏
页码：1 / 15
页数：15
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