[英文文献] Impact of Ethanol Production on U.S. and Regional Gasoline Prices and On th... [推广有奖]

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平均消费倾向644 发表于 2006-1-1 06:34:14 |AI写论文

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英文文献：Impact of Ethanol Production on U.S. and Regional Gasoline Prices and On the Profitability of U.S. Oil Refinery Industry-乙醇生产对美国和地区汽油价格的影响，以及对美国炼油厂盈利能力的影响
英文文献作者：Du, Xiaodong,Hayes, Dermot J.
英文文献摘要：
Using pooled regional time-series data and panel data estimation, we quantify the impact of monthly ethanol production on monthly retail regular gasoline prices. This analysis suggests that the growth in ethanol production has caused retail gasoline prices to be $0.29 to $0.40 per gallon lower than would otherwise have been the case. The analysis shows that the negative impact of ethanol on gasoline prices varies considerably across regions. The Midwest region has the biggest impact, at $0.39/gallon, while the Rocky Mountain region had the smallest impact, at $0.17/gallon. The results also indicate that ethanol production has significantly reduced the profit margin of the oil refinery industry. The results are robust with respect to alternative model specifications.

使用混合的区域时间序列数据和面板数据估计，我们量化了每月乙醇生产对每月零售常规汽油价格的影响。这一分析表明，乙醇生产的增长导致汽油零售价格每加仑下降了0.29美元至0.40美元。分析显示，乙醇对汽油价格的负面影响在不同地区差别很大。中西部地区受影响最大，为0.39美元/加仑，落基山脉地区受影响最小，为0.17美元/加仑。研究结果还表明，乙醇生产大大降低了炼油行业的利润率。结果是稳健的，相对于替代的模型规范。