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Evidence of a Shift in the Short-Run Price Elasticity of Gasoline Demand

By Jonathan E. Hughes, Christopher R. Knittel and Daniel Sperling

Abstract

Understanding the sensitivity of gasoline demand to changes in prices and income has important implications for policies related to climate change, optimal taxation and national security. The short-run price and income elasticities of gasoline demand in the United States during the 1970s and 1980s have been studied extensively. However, transportation analysts have hypothesized that behavioral and structural factors over the past several decades have changed the responsiveness of U.S. consumers to changes in gasoline prices. We compare the price and income elasticities of gasoline demand in two periods of similarly hig

Year: 2008
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