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Gasoline Demand, Pricing Policy and Social Welfare in the Islamic Republic of Iran

Ahmadian, M, Chitnis, M and Hunt, LC (2007) Gasoline Demand, Pricing Policy and Social Welfare in the Islamic Republic of Iran OPEC Review, 31 (2). pp. 105-124.

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Abstract

This study estimates the gasoline demand function for the Islamic Republic of Iran, using the structural time series model over the period 1968-2002, and uses it to estimate the change in social welfare for 2003 and 2004, of a higher gasoline price policy. It is found that short- and long-run demand price elasticities are inelastic, although the response is greater in the long run. Hence, social welfare is estimated to fall because of the higher gasoline price (ceteris paribus). However, allowing all variables in the model to change, social welfare is estimated to increase since the changes in the other variables more than compensate for the negative effects of the policy.

Item Type: Article
Subjects : Economics
Divisions : Faculty of Arts and Social Sciences > School of Economics
Authors :
AuthorsEmailORCID
Ahmadian, MUNSPECIFIEDUNSPECIFIED
Chitnis, MUNSPECIFIEDUNSPECIFIED
Hunt, LCUNSPECIFIEDUNSPECIFIED
Date : June 2007
Identification Number : https://doi.org/10.1111/j.1468-0076.2007.00179.x
Copyright Disclaimer : © 2007 Organization of the Petroleum Exporting Countries
Depositing User : Symplectic Elements
Date Deposited : 08 Nov 2016 13:34
Last Modified : 08 Nov 2016 13:34
URI: http://epubs.surrey.ac.uk/id/eprint/812784

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