상세검색
최근 검색어 전체 삭제
다국어입력
즐겨찾기0
아태비즈니스연구 제14권 제1호.jpg
KCI등재 학술저널

국제 유가 변동성이 국내 휘발유 가격 비대칭성에 미치는 영향

An Effect of Volatility of Crude Oil Price on Asymmetry of Domestic Gasoline Price Adjustment

DOI : 10.32599/apjb.14.1.202303.351
  • 71

Purpose - This study examines the effects of Dubai oil price and the volatility on the asymmetry of domestic gasoline price adjustment. Additionally, the study investigates the effects of “Altteul” gas-station and tax-cut policies on asymmetry. Design/methodology/approach - Firstly, the study calculates proxies for asymmetry and volatility of each window(every 3-month) by error-correction model and GARCH(1, 1) using daily domestic gas price and Dubai oil price from 2008/04/15 to 2022/12/31. Secondly, the study investigates the effects of the increasing rate of Dubai oil price, volatility, “Altteul” gas-station and tax-cut policies on asymmetry. The autoregressive distributed lag regression model is employed for estimations. Findings - The study finds that changes in the increasing rate of Dubai oil price and both types of volatility of Dubai oil price increase asymmetry. While “Altteul” gas-station and tax-cut policies decrease asymmetry. Additionally, the study fails to find that asymmetry in the Korean gasoline market in the estimation with total observations. Research implications or Originality - An increase in Dubai oil price volatility means an increase in cost uncertainty for gas-station owners. Since cost uncertainty is a kind of financial risk, the increase in volatility reinforces the asymmetry. The study provides supporting evidence for the idea.

Ⅰ. 서론

Ⅱ. 모형 및 자료

Ⅲ. 추정결과

Ⅳ. 결론

References

로딩중