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The security of energy supply is a key geopolitical factor in the relationship between the European Union and the southern neighborhood countries of the Middle East and North Africa region. We study the response of eight Mediterranean economies to exogenous oil supply shocks. We focus on the...
Persistent link: https://www.econbiz.de/10011438640
This study investigates the effects of oil price shocks on volatility of selected agricultural and metal commodities. To achieve this goal, we decompose an oil price shock to its underlying components, including macroeconomics and oil specific shocks. The applied methodology is the structural...
Persistent link: https://www.econbiz.de/10011438674
In this paper, decisions regarding production in oil exporting countries are studied by means of theoretical analysis and empirical investigation. Under the assumptions of exogenous oil prices and world oil demand, we are able to describe the relationship between oil production levels and...
Persistent link: https://www.econbiz.de/10009231652
Energy Price Reform in ChinaThe Chinese leadership has determined to assign the market a decisive role in allocating resources. To have the market to play that role, getting the energy prices right is crucial because this sends clear signals to both producers and consumers of energy. While the...
Persistent link: https://www.econbiz.de/10011850316
This paper studies the relevance of strategic trade effects in the environmental policy for the European electricity sector. The production, investment and trade of electricity are modelled for four European countries. Three market regimes are distinguished: perfect competition, price regulation...
Persistent link: https://www.econbiz.de/10011600320
to incorporating the RFH in predictive models for the prices of gasoline and diesel. We show that the RFH is useless for … the price of crude oil to the price of gasoline is asymmetric. Although there have been many contributions documenting … forecasting performance of econometric models incorporating asymmetric price transmission from crude oil to gasoline. In this …
Persistent link: https://www.econbiz.de/10010251557
of gasoline. Relative to the previous literature, the distinguishing features of the present paper are: i) use of updated … and comparable data to carry out an international comparison of gasoline markets; ii) two-stage modeling of the … transmission of oil price shocks to gasoline prices (first refinery stage and second distribution stage), in order to assess …
Persistent link: https://www.econbiz.de/10011596079
This paper is one of the limited studies to investigate rebound effects in sectoral electricity consumption and the specific case of New Zealand. New Zealand, like other OECD economies, has aimed for energy efficiency improvements and reduced electricity consumption from 9.2 MWh per capita in...
Persistent link: https://www.econbiz.de/10012255110
Crude oil prices have been fluctuating over time and by a large range. It is the disorganization of oil price series that makes it difficult to deduce the changing trends of oil prices in the middle- and long-terms and predict their price levels in the short-term. Following a price-state...
Persistent link: https://www.econbiz.de/10008903424
China had been singled out by Western politicians and media for dragging its feet on international climate negotiations at Copenhagen, the accusations previously always targeted on the U.S. To put such a criticism into perspective, this paper provides some reflections on China's stance and...
Persistent link: https://www.econbiz.de/10008732053