PRICE ELASTICITY ESTIMATION OF GASOLINE DEMAND USING STRUCTURAL

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CHITNIS M.

مرکز اطلاعات علمی Scientific Information Database (SID) - Trusted Source for Research and Academic Resources

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Journal: JOURNAL OF SUSTAINABLE GROWTH AND DEVELOPMENT (THE ECONOMIC RESEARCH) Year:2005 | Volume:5 | Issue:3 Page(s): 1-16

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Title

PRICE ELASTICITY ESTIMATION OF GASOLINE DEMAND USING STRUCTURAL

Author(s)

CHITNIS M. | Issue Writer Certificate

Keywords

GASOLINE DEMANDQ2

UNDERLYING TRENDQ4

STOCHASTIC TRENDQ3

STRUCTURAL TIME SERIES MODELQ3

Abstract

Precise estimation of GASOLINE DEMAND is important in order to obtain price elasticities to determine the effect of gasoline price related policies. In this paper, by introducing the UNDERLYING TREND concept in modeling and applying STRUCTURAL TIME SERIES MODEL, GASOLINE DEMAND function is estimated using annual time series data. It is found that the nature of trend is stochastic for demand. Demand is inelastic with respect to price in short run and long run, but with greater response in long run. Furthermore, demand with respect to income is inelastic in short run but elastic in long run. Therefore, reducing consumption through higher price policy in short run is not much effective but it is effective in long run. Finally, gasoline price increase policy is suggested and non- pricing policies such as increasing efficiency of vehicles and efficiency standards and increase in public transportation services could be effective for controlling and reducing consumption.

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APA: Copy

CHITNIS, M.. (2005). PRICE ELASTICITY ESTIMATION OF GASOLINE DEMAND USING STRUCTURAL. JOURNAL OF SUSTAINABLE GROWTH AND DEVELOPMENT (THE ECONOMIC RESEARCH), 5(3), 1-16. SID. https://sid.ir/paper/86573/en

Vancouver: Copy

CHITNIS M.. PRICE ELASTICITY ESTIMATION OF GASOLINE DEMAND USING STRUCTURAL. JOURNAL OF SUSTAINABLE GROWTH AND DEVELOPMENT (THE ECONOMIC RESEARCH)[Internet]. 2005;5(3):1-16. Available from: https://sid.ir/paper/86573/en

IEEE: Copy

M. CHITNIS, “PRICE ELASTICITY ESTIMATION OF GASOLINE DEMAND USING STRUCTURAL,” JOURNAL OF SUSTAINABLE GROWTH AND DEVELOPMENT (THE ECONOMIC RESEARCH), vol. 5, no. 3, pp. 1–16, 2005, [Online]. Available: https://sid.ir/paper/86573/en

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