| Abstract: | ARIMA time series model building techniques are used to construct fifty-one state gasoline demand models based on monthly data for the period of January, 1975 to July, 1960. Statistically satisfactory models are obtained for all states. Price elasticity estimates are >0 for all states. All but four are statistically significant at the 0.05 level. The significant price elasticity estimates range from ?0.138 to ?0.377, with most clustering about ?0.2. Estimates of state gasoline supply shortages for May, June, and July, 1979 are also presented which range from 0 to 8 percent of normal consumption for the three-month-period. |
