摘要：Despite of international evidence of asymmetric price adjustments in many markets, particularly in gasoline markets, the literature on this issue with Brazilian data is very scarce. Thus, the aim of this paper is to fill this gap and investigate the asymmetry in price transmission of wholesale diesel (refineries and distributors) to final consumers. In fact, price adjustments are asymmetric both in the short and long run. While retailer prices tend to respond to wholesale price increases in the same month, complete response to wholesale price reductions may take ten months. The results are robust to the presence of structural breaks and shocks of 1% in the wholesale rice mean transfer of at least R$ 2.1 billion a year from consumers to retailers.
其他摘要：Despite of international evidence of asymmetric price adjustments in many markets, particularly in gasoline markets, the literature on this issue with Brazilian data is very scarce. Thus, the aim of this paper is to fill this gap and investigate the asymmetry in price transmission of wholesale diesel (refineries and distributors) to final consumers. In fact, price adjustments are asymmetric both in the short and long run. While retailer prices tend to respond to wholesale price increases in the same month, complete response to wholesale price reductions may take ten months. The results are robust to the presence of structural breaks and shocks of 1% in the wholesale ricemean transfer of at least R$ 2.1 billion a year from consumers to retailers.
关键词：Assimetria; Modelo de Correção de Erros; Cointegração; Preços do Óleo Diesel;Assimetria;Modelo de Correção de Erros;Cointegração;Preços do Óleo Diesel
其他关键词：Assimetria, Modelo de Correção de Erros, Cointegração, Preços do Óleo Diesel
