Showing 1 - 5 of 5
A frequently encountered problem in import demand estimation is how to account for competition between imports and domestic production. Traditionally, use of the Armington model has been a way to handle this problem. This is a disaggregate model which distinguishes commodities by country of...
Persistent link: https://www.econbiz.de/10005327296
In this paper we investigate the time-varying relationship between oil and natural gas in the UK. We develop a model where relative prices can move between pricing-regimes; markets switch between being decoupled and integrated. Our model endogenously accounts for periods where oil and natural...
Persistent link: https://www.econbiz.de/10010721610
During the last two decades there has been a tremendous growth in the production of intensively farmed fish. This growth has been accompanied by a substantial reduction in prices. As this enhances the competitiveness of farmed fish, concerns are often raised with respect to the market impact of...
Persistent link: https://www.econbiz.de/10008546942
This paper investigates the economic value of trade when prices of transportation services are endogenous to cross-market price spreads. This is relevant for liquefied natural gas (LNG) exports. LNG transportation capacity is limited in the short-run, and long lead-times are involved in...
Persistent link: https://www.econbiz.de/10011164346
When natural gas prices are subject to periodic decoupling from oil prices, for instance due to peak-load pricing, conventional linear models of price dynamics such as the Vector Error Correction Model (VECM) can lead to erroneous inferences about cointegration relationships, price adjustments...
Persistent link: https://www.econbiz.de/10011194232