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Should single-equation dynamic gasoline demand models include moving average terms?

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dc.contributor.authorBreunig, Robert
dc.date.accessioned2015-12-10T23:32:20Z
dc.date.issued2011
dc.date.updated2016-02-24T08:18:13Z
dc.description.abstractWe argue that single-equation dynamic demand models applied to estimating gasoline demand should capture the slow evolution of unobservable habits that in part determine vehicle and gasoline usage. Inclusion of unobservable habits implies that single-equation models should include moving-average terms. Ordinary least squares estimation is thus inappropriate. Using examples from Australia and the US, it is shown that estimates of long-run price and income elasticities become much less precise.
dc.identifier.issn1361-9209
dc.identifier.urihttp://hdl.handle.net/1885/68795
dc.publisherPergamon Press
dc.sourceTransportation Research: Part D Transport and Environment
dc.subjectKeywords: Australia; Dynamic demand models; Gasoline demand; Habit formation; Income elasticities; Moving averages; Ordinary least squares; Single-equation demand analysis; Unobservable; Elasticity; Estimation; Gasoline; Mathematical models; demand elasticity; inco Gasoline demand elasticity; Habit formation; Single-equation demand analysis
dc.titleShould single-equation dynamic gasoline demand models include moving average terms?
dc.typeJournal article
local.bibliographicCitation.issue6
local.bibliographicCitation.lastpage477
local.bibliographicCitation.startpage474
local.contributor.affiliationBreunig, Robert, College of Business and Economics, ANU
local.contributor.authoruidBreunig, Robert, u9809765
local.description.embargo2037-12-31
local.description.notesImported from ARIES
local.identifier.absfor140217 - Transport Economics
local.identifier.absfor140302 - Econometric and Statistical Methods
local.identifier.absseo889899 - Environmentally Sustainable Transport not elsewhere classified
local.identifier.ariespublicationf2965xPUB1832
local.identifier.citationvolume16
local.identifier.doi10.1016/j.trd.2011.04.006
local.identifier.scopusID2-s2.0-79957957430
local.identifier.thomsonID000292353100009
local.type.statusPublished Version

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