Energy
8 years ago

Gasoline demand in Korea highly responsive to price changes, study finds.

Energy Sources Part B Economics Planning and Policy
Short-run and long-run elasticities of gasoline demand: The case of Korea
Kyung‐Min Lim, Seung‐Hoon Yoo

Paper Summary

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Energy
8 years ago

Gasoline demand in Korea highly responsive to price changes, study finds.

Rebound Effect
Environmental Impact
Oil Price Shocks
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The study looked at how the demand for gasoline in Korea changes with price and income from 1991 to 2010. They found that people in Korea are sensitive to changes in gasoline prices and income, with demand being more responsive to price. This means that policies focusing on controlling prices could be effective in managing gasoline demand in Korea.