New York mark-ups on petroleum products

Szymon Wlazlowski, Birger Nilsson, Jane Binner, Monica Giulietti, Nathan Joseph

Research output: Contribution to journalArticlepeer-review


In this paper we analyse rigidities in the behaviour of the mark-up on regular, midgrade and premium varieties of petrol in the New York area using a set of weekly frequency data and a methodology that analyses the pricing process using deterministic and stochastic techniques. The results are consistent across methodologies and indicate that the speeds of adjustment to the long-run equilibrium mark-up differ across varieties of petrol with margins of the premium variety falling faster than they rise, contrary to the popular claim of welfare-decreasing asymmetries in price transmission. © 2012 The Authors. The Manchester School © 2012 Blackwell Publishing Ltd and The University of Manchester.
Original languageEnglish
Pages (from-to)145-171
Number of pages27
JournalManchester School
Issue number2
Publication statusPublished - Mar 2012
Externally publishedYes


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