Abstract
There have been a number of studies attempting to determine income and price elasticities of demand for petroleum products. These studies vary greatly in terms of model specification and in the type of data used. The immediate purpose of this paper is to formally investigate the time distribution of the income and price variables on the demand for gasoline in the United States during the time period 1949-1973. Gasoline was selected because it is the principal refined petroleum product and is important in its own right. However, the more fundamental purpose is to contribute to the methodological literature and to suggest statistical procedures to more nearly approximate the true lag structure of selected independent variables.
The paper is organized along the following lines: Section II briefly surveys the model specifications used in some recent and important gasoline demand studies. It will become apparent that the analysis of lag distributions is not very highly developed at present. Section III outlines some distributed lag models and develops the rationale for the model used in this study. Section IV presents the empirical analysis and Section V is the conclusion. The net result of this analysis is that income and price elasticities are estimated within the framework of time.
Recommended Citation
Danielsen, Albert L. and Hill, R. Carter, "The Lag Effects of OwnPrice and Income on the Demand for Gasoline" (1976). UMR-MEC Conference on Energy / UMR-DNR Conference on Energy. 164, pp. 500-507.
https://scholarsmine.mst.edu/umr-mec/164
Meeting Name
3rd Annual UMR-MEC Conference on Energy (1976: Oct. 12-14, Rolla, MO)
Document Type
Article - Conference proceedings
Session
Energy Demand Estimation - Problems and Procedures
Document Version
Final Version
File Type
text
Language(s)
English
Rights
© 1977 University of Missouri--Rolla, All rights reserved.
Publication Date
13 Oct 1976
