Abstract

http://ssrn.com/abstract=1974165
 


 



Gasoline Prices, Transport Costs, and the U.S. Business Cycles


Hakan Yilmazkuday


Florida International University

June 1, 2014


Abstract:     
The effects of gasoline prices on the U.S. business cycles are investigated. In order to distinguish between gasoline supply and gasoline demand shocks, the price of gasoline is endogenously determined through a transportation sector that uses gasoline as an input of production. The model is estimated for the U.S. economy using five macroeconomic time series, including data on transport costs and gasoline prices. The results show that although standard shocks in the literature (e.g., technology shocks, monetary policy shocks) have significant effects on the U.S. business cycles in the long run, gasoline supply and demand shocks play an important role in the short run.

Number of Pages in PDF File: 28

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Date posted: December 20, 2011 ; Last revised: June 2, 2014

Suggested Citation

Yilmazkuday, Hakan, Gasoline Prices, Transport Costs, and the U.S. Business Cycles (June 1, 2014). Available at SSRN: http://ssrn.com/abstract=1974165 or http://dx.doi.org/10.2139/ssrn.1974165

Contact Information

Hakan Yilmazkuday (Contact Author)
Florida International University ( email )
Miami, FL 33199
United States
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