New York mark-ups on petroleum products

Szymon Wlazlowski*, Birger Nillson, Jane Binner, Monica Giulietti, Nathan Joseph

*Corresponding author for this work

Research output: Contribution to journalArticle

Abstract

In this paper we analyse rigidities in the behaviour of the mark-up on regular, midgrade and premium varieties of petrol in the New York area using a set of weekly frequency data and a methodology that analyses the pricing process using deterministic and stochastic techniques. The results are consistent across methodologies and indicate that the speeds of adjustment to the long-run equilibrium mark-up differ across varieties of petrol with margins of the premium variety falling faster than they rise, contrary to the popular claim of welfare-decreasing asymmetries in price transmission. © 2012 The Authors. The Manchester School © 2012 Blackwell Publishing Ltd and The University of Manchester.

Original languageEnglish
Pages (from-to)145-171
Number of pages27
JournalManchester School
Volume80
Issue number2
Early online date21 Feb 2012
DOIs
Publication statusPublished - Mar 2012

Bibliographical note

This is the peer reviewed version of the following article: WLAZLOWSKI, S. , NILSSON, B. , BINNER, J. , GIULIETTI, M. and JOSEPH, N. (2012), NEW YORK MARK‐UPS ON PETROLEUM PRODUCTS. The Manchester School, 80: 145-171, which has been published in final form at https://doi.org/10.1111/j.1467-9957.2010.02192.x.  This article may be used for non-commercial purposes in accordance With Wiley Terms and Conditions for self-archiving.

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    Wlazlowski, S., Nillson, B., Binner, J., Giulietti, M., & Joseph, N. (2012). New York mark-ups on petroleum products. Manchester School, 80(2), 145-171. https://doi.org/10.1111/j.1467-9957.2010.02192.x