Cite JOURNAL ARTICLE
Rotterdamer Preise und Steuern als hauptsächliche Bestimmungsfaktoren der deutschen Mineralölpreise
Eine empirische Untersuchung für die Bundesrepublik Deutschland von 1980 bis 1990
Journal of Contextual Economics – Schmollers Jahrbuch, Vol. 114 (1994), Iss. 3 : pp. 379–404
This paper investigates how German prices for gasoline and light heating oil react to changes in taxes and in the corresponding Rotterdam prices. Monthly data from 1980 to 1990 are employed. Error correction models are estimated to separate long-run equilibrium relations and short-run adjustment processes. Within a short period, both changes in the Rotterdam prices and in taxes are completely transferred to domestic mineral oil prices. Thus, the results are compatible with the hypotheses that Germany is a 'small country' with respect to the world oil market and that German mineral oil markets are competitive.