The logarithmic flow models generate elasticity estimates for prices that generally exceed estimates of recent studies both for the short run and the long run. This holds true over gasoline, diesel, and total motorfuel models. The linear gasoline results for price elasticity are in the range of previous estimates. In the logarithmic stock-flow models, estimates of gasoline price elasticity exceed both short- and long-run estimates of previous studies. The liner stock-flow model generates a price elasticity that is no different than zero (statistically) and an income elasticity that appears to be large in the short-run.
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