Gasoline prices and purchases of new automobiles
Journal Article
·
· South. Econ. J.; (United States)
A conditional logit estimation method is applied to measure the impact of gasoline prices on the mix of new-automobile purchases. The results show a strong cross-elasticity of small-car demand with respect to the price of gasoline. Adjustment of the automobile stock should be a significant component of the total response to rising prices. The Federal government is currently intervening directly in the new-car market by requiring minimum fuel-economy standards. An implication of the analysis is that a continued gasoline-price increase would lessen the upward pressure on large-car prices as a result of the Federal mandates. Demand for small cars can also be credited to the increase of multi-car and multi-earner households. 12 references, 5 tables.
- Research Organization:
- Bureau of Labor Statistics, Washington, DC
- OSTI ID:
- 5142047
- Journal Information:
- South. Econ. J.; (United States), Journal Name: South. Econ. J.; (United States) Vol. 47:1; ISSN SECJA
- Country of Publication:
- United States
- Language:
- English
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Related Subjects
29 ENERGY PLANNING, POLICY, AND ECONOMY
290200* -- Energy Planning & Policy-- Economics & Sociology
32 ENERGY CONSERVATION, CONSUMPTION, AND UTILIZATION
320203 -- Energy Conservation
Consumption
& Utilization-- Transportation-- Land & Roadway
AUTOMOBILES
AUTOMOTIVE FUELS
DEMAND FACTORS
ECONOMIC ELASTICITY
ECONOMIC IMPACT
FUEL ECONOMY
FUELS
GASOLINE
LIQUID FUELS
MARKET
PETROLEUM PRODUCTS
PRICES
VEHICLES
290200* -- Energy Planning & Policy-- Economics & Sociology
32 ENERGY CONSERVATION, CONSUMPTION, AND UTILIZATION
320203 -- Energy Conservation
Consumption
& Utilization-- Transportation-- Land & Roadway
AUTOMOBILES
AUTOMOTIVE FUELS
DEMAND FACTORS
ECONOMIC ELASTICITY
ECONOMIC IMPACT
FUEL ECONOMY
FUELS
GASOLINE
LIQUID FUELS
MARKET
PETROLEUM PRODUCTS
PRICES
VEHICLES