Asymmetric Price Transmission and Impulse Responses between Crude Oil, Jet Fuel, and Diesel

2021 ◽  
Author(s):  
Wenbei Zhang ◽  
Marty Luckert ◽  
Feng Qiu
2012 ◽  
Vol 78 (3) ◽  
pp. 468-478 ◽  
Author(s):  
YUTARO SAKAI ◽  
TORU NAKAJIMA ◽  
TAKAHIRO MATSUI ◽  
NOBUYUKI YAGI

10.5109/17821 ◽  
2010 ◽  
Vol 55 (1) ◽  
pp. 181-189
Author(s):  
Shi Zheng ◽  
Douglas J. Miller ◽  
Susumu Fukuda

2018 ◽  
Vol 22 (4) ◽  
Author(s):  
Kristofer Månsson ◽  
Pär Sjölander ◽  
Ghazi Shukur

AbstractBased on a panel wavelet efficiency analysis, we conclude that there is a systematic pattern of positive asymmetric price transmission inefficiencies in the interest rates of the largest Swedish mortgage lenders. Thus, there seems to be a higher propensity for mortgage lenders to swiftly increase their customers’ mortgage interest rates subsequent to an increase in its borrowing costs, than to decrease their customers’ mortgage rates subsequent to a corresponding decrease in the cost of borrowing. A unique contribution is our proposed wavelet method which enables a robust detection of positive asymmetric price transmission effects at various time-frequency scales, while simultaneously controlling for non-stationary trends, autocorrelation, and structural breaks. Since traditional time-series analysis methods essentially implies that several wavelet time scales are aggregated into one single time series, the blunt traditional error correction analysis totally failed to discover APT effects for this data set. In summary, using the wavelet method we show that even though the customers in the end finally will benefit from decreases in the mortgage lenders’ financing costs, the lenders wait disproportionally long before the customers’ mortgage rates are decreased.


2020 ◽  
pp. 1-20
Author(s):  
XIANCHUN LIAO ◽  
JUNGHO BAEK

As the world’s second-largest crude oil consumer, China depends on imports for approximately 60% and domestic production for approximately 40%, of its oil demand. Therefore, it is very interesting to assess the pass-through effects of both domestic and international crude oil prices to gasoline and diesel prices. After the short- and long-run investigations using the nonlinear autoregressive distributed lag (ARDL) methodology of Shin et al. [Shin, Y, BC Yu and M Greenwood-Nimmo (2014). Modelling asymmetric cointegration and dynamic multipliers in a nonlinear ARDL framework” Festschrift in Honor of Peter Schmidt: Econometric Methods and Applications, R Sickels and W Horrace (eds.), pp. 281–314. Springer.], we find overwhelming evidence supporting the asymmetric price transmission mechanism between crude oil prices and gasoline prices in both the short- and long-run. In the case of diesel prices, on the other hand, the asymmetry effects seem likely to be a long-run phenomenon.


Author(s):  
Fitrotul Laili ◽  
Wiwit Widyawati ◽  
Putri Budi Setyowati

Agribusiness ◽  
2016 ◽  
Vol 33 (1) ◽  
pp. 85-97 ◽  
Author(s):  
Said Tifaoui ◽  
Stephan von Cramon-Taubadel

2017 ◽  
Vol 2017 (1) ◽  
pp. 2017328
Author(s):  
Xinzhi Xue ◽  
Joseph Katz

Subsurface oil well blowouts create buoyant, immiscible jets and plumes. Turbulent breaks jets into oil droplets with sizes ranging from several millimeters to sub-microns. The fate of oil droplets largely depends on their sizes. The physics of single thread of fluid breaks into several smaller droplets in low Reynolds number and Ohnesorge number can be well explained by Plateau-Rayleigh instability. However, when Reynolds number and Ohnesorge number are high, namely the atomization regime, the physics of high-speed jet fragments into a wide range of droplets is not well understood. Because of the opaque nature of crude oil, it is difficult to visualize and optically quantify the process of initial jet breakup and droplet generation within the zone of flow establishment (less than 10 nozzle diameters downstream). In order to overcome this issue, in this experimental study, two immiscible fluids (silicone oil, 64% v/v sugar water solution) with a matching index of refraction of nD=1.4015 are used as surrogates of crude oil and seawater. High speed visualization and particle image velocimetry (PIV) are implemented to study vertical turbulent oil jets of varying Reynolds and Ohnesorge numbers, all falling in the atomization range. The refractive index match enables light to pass through the test sample region with little refraction, thus providing undistorted images for flow visualization and quantitative measurements. The kinematic viscosity ratio voil/vaq = 5.64, density ratio ρoil/ρaq = 0.83, and interfacial tension σ = 28.8 mN/m between silicone oil and sugar water solution are closely matched with those of crude oil and seawater. Entrainment of the aqueous phase by the high speed oil jet can be clearly shown by PIV. Using fluorescent dye in the oil phase, jet fragmentation morphology can be captured simultaneously with PIV images.


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