Seminar: Detailed data and changes in market structure: The move to unmanned gasoline service stations
Tuesday November 18th, Adriaan Soetevent (RUG) will present "Detailed data and changes in market structure: The move to unmanned gasoline service stations".
Time: 13.00-14.00 hours
Location: CPB-office, Van Stolkweg 14, The Hague
Presentation: Adriaan Soetevent (RUG)
Discussant: TBA
Language: English
Registration: Please register by sending an email to seminars@cpb.nl.
Abstract subject
We illustrate the impact of detailed data in empirical economic research by considering how the increased data availability has changed the scope and focus of studies on retail gasoline pricing. We show how high-volume, high-frequency price data help to identify and explain long-term trends using original data for the Dutch retail gasoline market. We find that 22% of the observed increase in the highway/off-highway price gap can be explained by the trend towards more unmanned stations; another 13% can be explained by major-to-nonmajor re-brandings. In one of the first applications of event study analysis to non-financial price data, we show that the adjustment to the new, lower price level is almost immediate in case of manned-to-unmanned conversions but takes one to two months in case of major-to-non-major re-brandings. The impact of both events is asymmetric with no measurable price impact of changes in the opposite direction.
Seminars
CPB organises seminars for researchers. During these seminars, always held on Tuesday from 1.00 pm. to 2.00 pm., academic papers are presented and discussed. Read here how to subscribe (or unsubscribe) to our alert service (CPB Calendar).
Policy seminars
CPB also organises Policy seminars for policy makers, researchers and other stakeholders. These Policy seminars focus on policy implications. Policy seminars are held on Thursday from 1.00 pm. to 2.00 pm. Read here how to subscribe (or unsubscribe) to our alert service (CPB Calendar).