基于VECM的汽柴油价格不对称性分析

Abstract

Abstract: As petroleum products prime raw material,the change of crude oil price must cause the change of refined oil price.From the reaction,we could understand the rationality of refined oil pricing.In this paper,the anti-symmetry of gasoline/diesel to crude oil price fluctuation is investigated by using anti-symmetry VECM.Results show that the responses to crude oil price increase are quicker and transient,to crude oil price decrease are delayed and lasting.This study provides scientific supports on how to properly elude the risk incurred by oil price hike,as well as how to perform thorough reformation of China's oil price system.

Key words: gasoline/diesel price, crude oil, anti-symmetry, Vector Error Correction Model(VECM)

CLC Number:

F224.9

JIAO Jian-ling, FAN Ying, WEI Yi-ming. VECM Based Analysis of Gasoline/Diesel Prices Anti-Symmetry[J]. Chinese Journal of Management Science, 2006, (3): 97-102.

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VECM Based Analysis of Gasoline/Diesel Prices Anti-Symmetry

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