Jarrell (1978) found that electricity prices rose in states that adopted state regulation before 1917, suggesting that regulators were "captured" by the interests of the regulated electric utilities. An alternative explanation is that state regulation more credibly protected specialized utility...

This paper investigates price volatility and spillover effects in the Nordic electricity wholesale markets, comprising Sweden, Finland, Denmark, and Norway. Utilizing both the Time-Varying Parameter Vector Autoregressive (TVP-VAR) and Rolling Window-based VAR (RW-VAR) approaches, we analyze the...