The relative effects of crude oil price and exchange rate on petroleum product prices: Evidence from a set of Northern Mediterranean countries
ECONOMIC MODELLING, cilt.42, ss.243-249, 2014 (SSCI, Scopus)
- Yayın Türü: Makale / Tam Makale
- Cilt numarası: 42
- Basım Tarihi: 2014
- Doi Numarası: 10.1016/j.econmod.2014.07.019
- Dergi Adı: ECONOMIC MODELLING
- Derginin Tarandığı İndeksler: Social Sciences Citation Index (SSCI), Scopus
- Sayfa Sayıları: ss.243-249
- Anahtar Kelimeler: Oil prices, Exchange rates, Asymmetry, GASOLINE PRICES, ADJUSTMENTS, FEATHERS, DYNAMICS, ROCKETS, MARKET, COSTS
- Açık Arşiv Koleksiyonu: AVESİS Açık Erişim Koleksiyonu
- Ankara Hacı Bayram Veli Üniversitesi Adresli: Hayır
Özet
This paper provides a set of empirical evidence from five Northern Mediterranean countries that are subject to similar refinery reference prices regarding the relative sensitivity of crude oil prices and exchange rate on (pre-tax) petroleum product prices. The empirical evidence reveals that a one percent increase in exchange rate (depreciation) increases petroleum product prices less than a one percent increase in crude oil prices does in the long run. In the short run, however, a one percent increase in exchange rate increases petroleum product prices more than a one percent increase in crude oil prices does. (C) 2014 Elsevier B.V. All rights reserved.