Asche, Frank; Oglend, Atle; Osmundsen, Petter - CESifo - 2013
In this paper we investigate the time-varying relationship between oil and natural gas in the UK. We develop a model … endogenously accounts for periods where oil and natural gas temporarily decouple due to gas specific pricing. We show that gas … the time of the year. Most of the reversion back to oil occurs in spring and summer when demand for gas to heating and …