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Article

Changes in Human Mobility under the COVID-19 Pandemic and the Tokyo Fuel Market

Graduate School of Humanities and Social Sciences, Saitama University, 255 Shimo-Okubo, Sakura-ku, Saitama 338-8570, Japan
Academic Editor: Michael McAleer
J. Risk Financial Manag. 2021, 14(4), 163; https://0-doi-org.brum.beds.ac.uk/10.3390/jrfm14040163
Received: 14 March 2021 / Revised: 30 March 2021 / Accepted: 4 April 2021 / Published: 5 April 2021
(This article belongs to the Special Issue The Impact of COVID-19 on Economy, Energy, and Environment)
The study identifies the impact of the changes in human mobility due to the announcement of the state of emergency to cope with the COVID-19 pandemic on the Tokyo gasoline, diesel, and kerosene markets. Indices reflecting the movements in the visits to transit stations and workplaces were used to capture the changes in human mobility from February 2020 to February 2021. The linear and nonlinear ARDL (NARDL) models were applied to investigate the relationship between the changes in human mobility indices and fuel prices. Although only the kerosene price received an impact from the human mobility changes in the linear ARDL model, the NARDL model revealed that when human mobility was increasing, the fuel price was affected positively and the negative shocks in the mobility had an adverse influence on the fuel price. The results of the study imply the importance of providing subsidies when a state of emergency reduces fuel demands due to the decline in human mobility and negatively affects the fuel retail industry. View Full-Text
Keywords: human mobility; gasoline; diesel; kerosene; ARDL; NARDL human mobility; gasoline; diesel; kerosene; ARDL; NARDL
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MDPI and ACS Style

Aruga, K. Changes in Human Mobility under the COVID-19 Pandemic and the Tokyo Fuel Market. J. Risk Financial Manag. 2021, 14, 163. https://0-doi-org.brum.beds.ac.uk/10.3390/jrfm14040163

AMA Style

Aruga K. Changes in Human Mobility under the COVID-19 Pandemic and the Tokyo Fuel Market. Journal of Risk and Financial Management. 2021; 14(4):163. https://0-doi-org.brum.beds.ac.uk/10.3390/jrfm14040163

Chicago/Turabian Style

Aruga, Kentaka. 2021. "Changes in Human Mobility under the COVID-19 Pandemic and the Tokyo Fuel Market" Journal of Risk and Financial Management 14, no. 4: 163. https://0-doi-org.brum.beds.ac.uk/10.3390/jrfm14040163

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