Data for: Modeling gasoline demand in the United States: A flexible semiparametric approach

Abstract of associated article: The focus of this paper is on the modeling and estimation of quarterly state-level gasoline demand in the United States. The existing literature may not appropriately evaluate the price elasticity and income elasticity of gasoline demand. Most studies fail to address the possible heterogeneity in gasoline demand elasticities that may arise from a variety of sources. The endogeneity issue of gasoline price has remained redundant throughout the literature. I address these challenges using a flexible demand model and a recently developed estimation technique. The econometric approach allows for functional coefficients to accommodate the heterogeneity in demand elasticities. Several instrumental variables are used to investigate the endogeneity of gasoline price. The estimation results provide strong evidence of heterogeneous gasoline demand elasticities across states and over time. Some state-level attributes along with income and macroeconomic shocks are the potential sources of heterogeneity.

关联论文摘要：本研究聚焦美国各州级层面的季度汽油需求建模与估算工作。现有相关研究或无法恰当地评估汽油需求的价格弹性与收入弹性：多数研究未能解决由多种潜在因素引发的汽油需求弹性异质性问题，且汽油价格的内生性问题在现有文献中始终未得到有效处理。本研究采用灵活需求模型与新近提出的估算方法应对上述挑战，该计量方法允许设置函数型系数以适配需求弹性的异质性特征，并通过多个工具变量对汽油价格的内生性问题展开分析。估算结果有力证明，各州级层面以及不同时期的汽油需求弹性均存在显著异质性，部分州级属性、收入水平与宏观经济冲击，正是引发此类异质性的潜在来源。