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More New Evidence on Asymmetric Gasoline Price Responses

Riemer P. Faber

Year: 2015
Volume: Volume 36
Number: Number 3
DOI: 10.5547/01956574.36.3.rfab
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Abstract:
There exist two possible aggregation issues in studies to asymmetric price responses: (i) an issue due to aggregation over time, and (ii) an issue due to aggregation over space. Empirical studies already confirm the existence of the first issue. This paper confirms the existence of the second issue by studying daily retail prices of individual gasoline stations. I find that 38% of the stations respond asymmetrically to changes in the gasoline spot market price. Hence, asymmetric pricing is a feature of individual firms.



The Rebound Effect in Energy-Intensive Industries: A Factor Demand Model with Asymmetric Price Response

Anna Dahlqvist, Tommy Lundgren, and Per-Olov Marklund

Year: 2021
Volume: Volume 42
Number: Number 3
DOI: 10.5547/01956574.42.3.adah
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Abstract:
The purpose of this paper is to estimate industry-specific direct rebound effects and to relate these effects to industry energy efficiency programs. The rebound effect represents economic behavior that will offset energy savings from energy efficiency improvements. The paper focuses on four energy intense sectors in Sweden; pulp and paper, iron and steel, chemical, and mining, during 2001�2012. We apply a factor demand model that allows for asymmetric energy price responses, i.e. that firms respond differently to increasing and decreasing energy prices. The results show considerable rebound effects. For electricity and non-fossil fuels, efficiency improvements could even �backfire�. To mitigate this effect, policies, such as voluntary energy efficiency programs, should be combined with an increase in energy taxes if the ambition is to reduce overall energy use.





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