, 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 …

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 …

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 …

transfer scheme called "gas price brake." A unique feature of this energy price relief measure is that both households and the … industry receive a transfer that increases in one's actual gas price. In a formal model, we show that such a transfer scheme … overcome this adverse effect of the gas price brake. An equivalent critique applies to the electricity price brake that is to …

This paper aims to assess the role of expectations as a determinant of the real price of natural gas. To measure … expectations, especially when measured as functional shocks, lead to strong and persistent increases in the real price of natural … gas. A shock decomposition exercise shows that the price of natural gas responds primarily to changes in the curvature of …

markets and the factors determining national and cross-national transmission of price signals in Sub-Saharan Africa. We use a …