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Michael L Polemis and Panagiotis N Fotis
''Rent seeking oligopolistic behaviour in European gasoline markets''
( 2015, Vol. 35 No.1 )
This paper explores the asymmetric adjustment speed of gasoline price in twelve European Union (EU) countries transmitted directly in a single stage formulation. The empirical results shed new light on the taxation effect and its role to the price asymmetry nexus, pointing that in many EU countries a crude oil price increase is passed through more forcefully than a price decrease revealing a rent-seeking oligopolistic behaviour by the marketers.
Keywords: Gasoline, Rockets and feathers hypothesis, Taxation, Dynamic OLS estimator
L1 - Market Structure, Firm Strategy, and Market Performance: General
Manuscript Received : Mar 09 2015 Manuscript Accepted : Mar 30 2015

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