DOI: 10.1016/j.enpol.2021.112466
论文题名: Asymmetry and hysteresis in the Russian gasoline market: The rationale for green energy exports
作者: Kolesnikova A. ; Fantazzini D.
刊名: Energy Policy
ISSN: 03014215
出版年: 2021
卷: 157 语种: 英语
中文关键词: Asymmetric cointegration
; Gasoline market
; Hysteresis
; Panel cointegration
; Russia
; Structural breaks
英文关键词: Commerce
; Costs
; Crude oil
; Energy policy
; Hysteresis
; Nuclear fuels
; Petroleum analysis
; Wind power
; Asymmetric cointegration
; Crude oil prices
; Exchange rates
; Gasoline market
; Gasoline prices
; Green energy
; Longest run
; Panel co integrations
; Russia
; Structural break
; Gasoline
英文摘要: Using monthly data of 79 Russian regions from 2003 to 2017, we study the long-run relationship of the retail gasoline prices with the crude oil price and the nominal exchange rate. We find that models that were successfully applied to deal with asymmetries in other countries are not suitable for Russia without taking structural breaks into account. Once breaks are allowed, we find that there is no asymmetry in the long-run elasticities between the gasoline prices and the crude oil price, and no significant hysteresis. However, there is an asymmetric relation between the gasoline price and the exchange rate that has decreased over time. These results also hold after several robustness checks. The evidence reported in this work shows that the effects of the exchange rate on gasoline prices are much more difficult to control than the oil price, and they require a larger set of policy measures: the recent development of a plan to decrease the importance of hydrocarbons exports by producing clean hydrogen using electrolysis and pyrolysis and the potential future export of electricity generated using nuclear power and onshore wind farms may help to diversify the local economy and to shield it from new sanctions. © 2021 Elsevier Ltd Citation statistics:
资源类型: 期刊论文
标识符: http://119.78.100.158/handle/2HF3EXSE/167868
Appears in Collections: 气候变化与战略
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作者单位: The Central Bank of Russian Federation, Moscow, Russian Federation; Moscow School of Economics - Moscow State University, Moscow, Russian Federation
Recommended Citation:
Kolesnikova A.,Fantazzini D.. Asymmetry and hysteresis in the Russian gasoline market: The rationale for green energy exports[J]. Energy Policy,2021-01-01,157