Replication data for: High Frequency Evidence on the Demand for Gasoline

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POL2014-0093_data			10/13/2019 03:24:AM
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Project Citation:

Levin, Laurence, Lewis, Matthew S., and Wolak, Frank A. Replication data for: High Frequency Evidence on the Demand for Gasoline. Nashville, TN: American Economic Association [publisher], 2017. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-10-13. https://doi.org/10.3886/E114607V1

Project Description

Summary: Daily city-level expenditures and prices are used to estimate the price responsiveness of gasoline demand in the United States. Using a frequency of purchase model that explicitly acknowledges the distinction between gasoline demand and gasoline expenditures, the price elasticity of demand is consistently found to be an order of magnitude larger than estimates from recent studies using more aggregated data. Estimating demand using higher levels of spatial and temporal aggregation is shown to produce increasingly inelastic estimates. A decomposition is then developed and implemented to understand the relative importance of several different factors in explaining this result.

Scope of Project

JEL Classification:
      C51 Model Construction and Estimation
      L71 Mining, Extraction, and Refining: Hydrocarbon Fuels
      Q35 Hydrocarbon Resources

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V1 [2019-10-13]

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