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How does gasoline stations in Czech republic react to change of crude oil price on commodity exchange?
 Hrabalík, Ondřej ; Stroukal, Dominik (advisor) ; Vozárová, Pavla (referee)
Aim of this thesis was finding out whether there is asymmetry on gasoline market in Czech republic, which is common knowledge or if asymmetry is only illusion. With daily data about gasoline and diesel prices from CZ market and also daily Brent Crude Oil price, thesis tires to prove that there is no asymmetry on the market. Analysis was done with asymmetric error correction model and further testing of asymmetry with koeficients from ECM. Results yield that both gasoline and diesel markets show rather symmetrical reaction on entry price change. Asymmetry was proven only in few lags and final statement is that asymmetry on market in Czech republic is rather illusion then reality.
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