文章基本信息

标题：Fuel Demand Elasticities in Brazil: A Panel Data Analysis with Instrumental Variables
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作者：Frederico Uchôa ; Cleiton Silva de Jesus ; Leonardo Chaves Borges Cardoso 等
期刊名称：International Journal of Energy Economics and Policy
电子版ISSN：2146-4553
出版年度：2020
卷号：10
期号：2
页码：450-457
DOI：10.32479/ijeep.8787
出版社：EconJournals
摘要：The aim of this paper is to provide demand elasticities for the three main fuels used in Brazil: gasoline, ethanol and diesel. We used a panel data approach at municipal level for the period between 2007 and 2016. The innovation in this study is in its introduction of a new instrumental variable for prices, combining three taxes and municipal distance from state capital. The main results are as follows: i) the gasoline, ethanol and diesel demands are price elastic, meaning that all own-price elasticities are greater than one; ii) ethanol consumption is more elastic when the CNG price is added as an explanatory variable, but this does not apply to gasoline; iii) an increase in GDP positively affects the demand for gasoline and diesel (less than proportionally), but does not affect demand for ethanol; iv) fleet size impacts the consumption of all fuels, except when the CNG price is excluded from the ethanol model; v) the ethanol-to-gasoline price ratio is a relevant variable for the demand of both gasoline and ethanol.
关键词：Fuel demand;Causal inference;Panel data analysis;price elasticity;cross price elasticity.