Evidence from American Time-Use Data” Bisakha Sen, 2012, Vol. The results indicate that higher gasoline prices are associated with an increase in both participation in and time spent on overall moderately energy intense physical activity. Abstract: “I find evidence of a negative association between gasoline prices and body weight using a fixed effects model with several robustness checks. Interestingly, although rising gasoline prices lead to an immediate deterioration in subjective well-being, analyses of lagged prices suggest that well-being almost fully rebounds one year later and changes very little each year thereafter. The effects of gasoline prices and alcohol consumption are stronger on drunk-driving crashes than on all crashes. Abstract: “This study utilizes data for 144 countries from 1991 to 2010 to present the first international estimates of the gasoline price elasticity of road fatalities.
Specifically, while higher gasoline prices show some associations with increases in recreational walking, bicycling and running, and in walking and bicycling to errands, the category of activity that show the strongest increases when gasoline prices increase is at least moderately energy intensive housework. I also show that increases in gas prices are associated with additional walking and a reduction in the frequency with which people eat at restaurants, explaining their effect on weight. Our contemporaneous estimates imply that rising gasoline prices generate well-being losses comparable to faltering labor market conditions, and likely offset some of the physical health benefits found in previous research.” Driving behavior “Gasoline Prices and Their Relationship to Drunk-driving Crashes” Guangqing Chi, Xuan Zhou, Timothy E. The findings do not vary much across different demographic groups. We instrument each country’s gasoline price with that country’s oil reserves and the yearly international crude oil price to address potential endogeneity concerns.
We show how corrections for endogenous market shares and utilization, measurement error and different gasoline price forecasts affect the results. To address the potential for simultaneity bias, we use both a country’s oil reserves and the international crude oil price as instruments for a country’s average gasoline pump price. One determinant of people’s willingness to support investments in mass transit may be the price of fuel for transit’s principal competition, the private automobile. The results indicate a small but consistently significant amount of transit ridership fluctuation is due to gasoline prices.
We also provide unique evidence of sticky information: vehicle markets respond to changes in gasoline prices with up to a six-month delay.” “Gasoline Prices, Gasoline Consumption and New-vehicle Fuel Economy: Evidence for a Large Sample of Countries” Paul J. We obtain estimates of the long-run price elasticity of gasoline demand of between −0.2 and −0.5. In this paper, I examine the relationship between the cost of gasoline and stated willingness to invest public money in mass transit improvements. Repeated lags of gasoline prices of up to 13 months are influential on ridership.
Because gas prices play such an omnipresent role in contemporary society, their fluctuations have been the subject of enormous academic study, across many facets of life and economic measures — from public health and driving behavior to business economics and public policy. Excerpt: “The findings from this study indicate that higher gasoline prices are associated with increased participation in and increased time spent on certain physical activities. For example, since 144 EU represents regular walking at ≥4 hours/week (≥240 minutes/week), 9.9 EU translates to about 7% of 144 EU or 240 minutes × 7% = 17 minutes walking per week, a substantial population-level impact. Using rich data from the DDB Worldwide Communications Life Style survey, we document a negative relationship between gasoline prices and self-reported life satisfaction over the period 1985-2005. Results from negative binomial regression models show that when gas prices are higher, there are fewer drunk-driving crashes, particularly among property-damage-only crashes.
The following is a representative sample of research: _______ Health “Is There an Association Between Gasoline Prices and Physical Activity? Hence, they lend conditional support to the hypothesis that increasing gasoline prices may reduce certain [obesity-causing] behaviors. We also observed some evidence of substitution of home-based physical activity (e.g., jogging, walking and non-strenuous sports) as opposed to physical activities that require driving to a particular location (e.g., bowling and racket sports).” “Pain at the Pump: Gasoline Prices and Subjective Well-being” Casey Boyd-Swan; Chris M. The estimated reduction in well-being, moreover, is found to be nearly twice as large among groups of likely car owners. When alcohol consumption levels are higher, there are more drunk-driving crashes, particularly fatal and injury crashes.
But higher gas prices affect more than just the cost to fill up at the gas station; higher gas prices have an effect on the broader economy. Big oil companies aren't to blame for high prices.
Check out Retailers A very basic side effect of high gas prices is that discretionary spending goes down.
Using newly available data for a sub-sample of 43 countries, we also find that higher gasoline prices induce consumers to substitute to vehicles that are more fuel-efficient, with an estimated elasticity of 0.2. I hypothesize that fuel price volatility — in addition to price itself — is a determinant of support for more mass transit funding, controlling for other factors. Every 10% increase in gasoline prices can lead to ridership increases of up to 4% per significant lag for bus and 8% for rail.
As the price of gasoline becomes more uncertain, the public should, all else equal, support investment in mass transportation, a form of transportation that may provide some measure of protection from the price of fuel. There is considerable variability across cities in the magnitude of the effect on transit ridership, the impact by mode and temporal variability.