Die Entwicklung in den vergangenen Jahren hat gezeigt, dass die Öl- und Gaspreise beträchtlichen Schwankungen unterliegen. Dabei ist klar geworden, dass langfristig die Knappheit der Ressourcen die Preise der fossilen Energieträger dramatisch steigern wird. Die Ressourcen sind begrenzt, aber...

Die Entwicklung in den vergangenen Jahren hat gezeigt, dass die Öl- und Gaspreise beträchtlichen Schwankungen unterliegen. Dabei ist klar geworden, dass langfristig die Knappheit der Ressourcen die Preise der fossilen Energieträger dramatisch steigern wird. Die Ressourcen sind begrenzt, aber...

This paper develops a Bayesian VAR model to identify three structural shocks driving the European gas market: demand, supply and inventory shocks. We document how gas price fluctuations have a heterogeneous pass-through to euro area prices depending on the underlying shock driving them. The...

The gas price shock has been a major contributor to inflation in Germany. In this context, Dullien and Weber (2022a, b, c) proposed a two-tier pricing scheme for natural gas in the spring of 2022 that lowers the price for a base quota through a subsidy while maintaining high market prices on the...

Price levels and movements on gasoline and diesel markets are heavily debated among consumers, policy-makers, and competition authorities alike. In this paper, we empirically investigate how and why price levels differ across gasoline stations in Germany, using eight months of data from a novel...

One of the more remarkable properties of commodity markets is the capability of their nominal prices to be negative numbers. This flexibility to violate the zero bound can appear in outright flat prices, spreads, and net unit costs. The principal driver is typically overwhelming supply relative...