Bachmeier, Lance J.; Griffin, James M. - In: The Review of Economics and Statistics 85 (2003) 3, pp. 772-776
In a 1997 paper, Borenstein, Cameron, and Gilbert (BCG) claim that gasoline prices rise quickly following an increase in the price of crude oil, but fall slowly following a decrease. This note estimates an error-correction model with daily spot gasoline and crude-oil price data over the period...