Asymmetric Error Correction Models for the Oil-Gasoline Price Relationship

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Modelling Asymmetric Cointegration and Dynamic Multipliers in a Nonlinear ARDL Framework (2013, unknown): “…the NARDL model was used to investigate to the so-called ‘rocketsand-feathers’ hypothesis associated with Bacon (1991), which describes how retail gasoline prices tend to react asymmetrically to changes in the price of crude oil (an exhaustive survey is provided by Grasso and Manera 2007).”
Taxation and the Asymmetric Adjustment of Selected Retail Energy Prices in the UK (2013, background): “Specifically, gasoline prices may react asymmetrically to changes in the price of crude oil, which is the key upstream input into gasoline production; an authoritative survey is provided by Grasso and Manera (2007).”
Asymmetric and nonlinear pass-through of crude oil prices to gasoline and natural gas prices (2014, unknown): “…interaction, initially discovered by Bacon (1991) as the “rockets and feathers” effects, then more or less confirmed by various studies (e.g., Borenstein et al., 1997; Bachmeier and Griffin, 2003; Chen et al., 2005; Grasso and Manera, 2007; Blair and Rezek, 2008; Meyler, 2009; Honarvar, 2009).”