Table 2. Regression Results for the Pooled OLS, the Fixed Effect Model, and the Panel FGLS Method on the 3:2:1 Crack Spread
Pooled OLS Regression |
Fixed Effect Model with AR(1) |
Panel FGLS Method | ||||
Variable |
Estimate |
Std. Err. |
Estimate |
Std. Err. |
Estimate |
Std. Err. |
Oil stock |
4.61e-6*** |
9.53e-7 |
7.27e-7*** |
3.19e-7 |
1.7e-6 |
1.18e-6 |
Gasoline stock |
-4.56e-6*** |
1.26e-6 |
1.13e-6 |
7.55e-7 |
0.000011*** |
3.48e-6 |
Refinery capacity |
-0.000015*** |
0.000032 |
-0.000063*** |
0.000012 |
-0.00039* |
0.00022 |
Utilization rate |
-0.015*** |
0.00032 |
-0.000066 |
0.00073 |
-0.00087 |
0.0019 |
Ethanol production |
-0.000091*** |
4.49e-6 |
-0.000073*** |
0.000011 |
-0.000077*** |
0.000014 |
Supply disruption |
0.32*** |
0.12 |
0.23* |
0.13 |
0.13* |
0.071 |
Gasoline import |
-0.000062*** |
4.41e-6 |
-3.3e-6 |
6.0e-6 |
5.19e-6 |
3.53e-6 |
HHI |
0.00026*** |
0.000069 |
-0.000027 |
0.000036 |
0.000079 |
0.00024 |
January |
-0.058 |
0.06 |
0.00099 |
0.046 |
-0.075*** |
0.028 |
February |
-0.075 |
0.06 |
0.022 |
0.059 |
-0.036 |
0.036 |
March |
0.13** |
0.062 |
0.14** |
0.067 |
0.095** |
0.039 |
April |
0.30*** |
0.063 |
0.22*** |
0.072 |
0.18*** |
0.044 |
May |
0.39*** |
0.063 |
0.23*** |
0.07 |
0.19*** |
0.046 |
June |
0.36*** |
0.063 |
0.24*** |
0.074 |
0.20*** |
0.046 |
July |
0.31*** |
0.062 |
0.17** |
0.073 |
0.15*** |
0.045 |
August |
0.28*** |
0.062 |
0.16** |
0.07 |
0.18*** |
0.043 |
September |
0.23*** |
0.061 |
0.12* |
0.066 |
0.18*** |
0.039 |
October |
0.19*** |
0.061 |
0.099* |
0.059 |
0.18*** |
0.034 |
November |
0.0022 |
0.060 |
-0.03 |
0.044 |
0.02 |
0.025 |
Constant |
4.04*** |
0.33 |
2.06*** |
0.13 |
2.53*** |
0.10 |
~R2 Adjusted R2 |
0.6196 0.6101 |
ρ = 0.87 F test |
3.98 |
*** 1% significance; ** 5% significance;* 10% significance level.
More intriguing information
1. Happiness in Eastern Europe2. WP 1 - The first part-time economy in the world. Does it work?
3. The name is absent
4. AGRICULTURAL PRODUCERS' WILLINGNESS TO PAY FOR REAL-TIME MESOSCALE WEATHER INFORMATION
5. Alzheimer’s Disease and Herpes Simplex Encephalitis
6. The name is absent
7. Expectation Formation and Endogenous Fluctuations in Aggregate Demand
8. Nach der Einführung von Arbeitslosengeld II: deutlich mehr Verlierer als Gewinner unter den Hilfeempfängern
9. The name is absent
10. The name is absent