Income Elasticity of Gasoline Demand: A Meta-Analysis
|Author:||Bc. Ondřej Kokeš|
|Year:||2012 - summer|
|Leaders:|| prof. PhDr. Tomáš Havránek Ph.D.
|Work type:|| Bachelors
|Awards and prizes:|
|Abstract:||In this thesis I summarize previous studies estimating income elasticity of gaso-
line demand, analyze the models employed, comment on the evolution of econo-
metric tools used, and nally perform a meta-analysis. This thesis is the rst
survey on gasoline income elasticity that takes into account publication bias.
It also distinguishes between models including car stock information in estima-
tion. I estimate the underlying short-run elasticity to be 0.1, long-run with car
stock 0.234, and long-run without car stock 0.644. These results, on average,
point to less income-elastic demand for gasoline than what previous surveys
|Downloadable:|| Bachelor Theses of Kokes