, conventional linear models of price dynamics such as the Vector Error Correction Model (VECM) can lead to erroneous inferences … about cointegration relationships, price adjustments and relative values. We propose the use of regime-switching models to … address these issues. Our regime switching model uses price data to infer whether pricing is oil-driven (integrated) or gas …

. Equity, commodity, and distillate markets positively price returns, and equity market risk and returns are higher than for …

became physically integrated. The oil-linked Continental gas price became dominant, due to both the large volume of the … opening up of the Interconnector (1998) the UK gas market had neither government price regulation nor a physical Continental … oil and electricity, took place. Using monthly price data, we find a highly integrated market where wholesale demand seems …

shocks have large and persistent price effects, while output effects tend to be moderate. The 2022 natural gas price spike … winter. Counterfactual simulations of an embargo on natural gas imports from Russia indicate similar positive price and …

document a statistically significant positive relationship between oil price developments and cost overruns, with shocks or … surprises to the oil price during the project implementation having a larger impact on cost overruns than the oil price level …

exports, and on the global price of crude oil. First, I investigate the extent to which this oil boom has caused Arab oil … article quantifies by how much increased U.S. tight oil production has lowered the global price of oil. Using a novel … econometric methodology, it is shown that in mid-2014, for example, the Brent price of crude oil was lower by $10 than it would …

substantial price differences between gas from different export countries, and do prices move together? Time series of Norwegian … prices for gas to Germany move proportionally over time, indicating an integrated gas market (the Law of One Price holds). We …. Among the explanatory factors for price discrepancies are differences in volume flexibility (swing) and perceived political …