Gasoline price as social phenomenon

Kossov, Vladimir and Kossova, Elena (2013): Gasoline price as social phenomenon.

Abstract

The gasoline price transform into the social phenomenon by its role in economy. For the state, it is a source of budget revenue through indirect taxes, which in majority of countries make up most of the price. The upper bound of a gasoline price is limited by risk of mass protests. For the citizens a gasoline price affects the cost of living. The lower bound of this price is limited to possibility of the authorities to subsidize it. Balances of interests of the authorities and citizens are estimated for the gasoline prices deviating from the normal. Normal gasoline prices are offered as standard, with respect to which of the actual prices can distinguish high and low. We propose an econometric model for the estimation of the normal price. The analysis of the results of estimation is presented for 97 countries and the data for 2000, 2004 and 2006. Showing the problems emerging in Russia

• Item Type: MPRA Paper
• Language: English
• Keywords: gasoline price; normal price; budget revenue; oil rent; benefits and loses; mass protests
• Subjects: C - Mathematical and Quantitative Methods > C2 - Single Equation Models ; Single Variables; C - Mathematical and Quantitative Methods > C2 - Single Equation Models ; Single Variables > C23 - Panel Data Models ; Spatio-temporal Models; D - Microeconomics > D4 - Market Structure, Pricing, and Design; D - Microeconomics > D4 - Market Structure, Pricing, and Design > D49 - Other; E - Macroeconomics and Monetary Economics > E3 - Prices, Business Fluctuations, and Cycles > E31 - Price Level ; Inflation ; Deflation; H - Public Economics > H2 - Taxation, Subsidies, and Revenue; H - Public Economics > H2 - Taxation, Subsidies, and Revenue > H21 - Efficiency ; Optimal Taxation

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