We present and test an explanation for lags in the adjustment of wholesale gasoline prices to changes in crude oil … model predicts that futures prices for gasoline will adjust incompletely to crude oil price shocks occurring close to the … prices in 188 local wholesale gasoline markets and find evidence that greater market power leads to slower output price …

This paper tests for price patterns in retail gasoline markets consistent with those predicted by models of implicit … relative to expected future profit: collusive prices are higher when predictable changes in demand or cost lead firms to expect … increase when demand is expected to increase and/or costs are expected to decline. Using panel data on sales volume, and retail …

Our empirical investigation confirms the common belief that retail gasoline prices react more quickly to increases in … competitive spot market for gasoline, perhaps reflecting inventory costs. Wholesale gasoline prices, however, exhibit no asymmetry … this probably reflects short run market power among retail gasoline sellers …

air service and the economy. Such bankruptcies, however, nearly always occur when demand is weak, and, thus, when even … bankruptcies since 1984 in order to estimate the effect of bankruptcy on air service, controlling for demand fluctuations and …

, analysts, and researchers -- including high taxes and fuel costs, weak demand, and competition from lower-cost airlines … last few years. Major drivers seem to be the severe demand downturn after 9/11 -- demand remained much weaker in 2009 than …