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Diskussionspapiere 1075 / 2010
We analyze the dynamic effect of prices and price volatility on current oil production, both on the level of country groups and the major individual producer countries. A comprehensive dataset at monthly frequency allows us to include a rich lag structure while controlling for key global and local determinants as well as seasonality. Our set of explanatory variables also includes real economic activity, ...
2010| Aleksandar Zaklan, Georg Zachmann, Anne Neumann
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Diskussionspapiere 1067 / 2010
Coal continues to be an important fuel in many countries' energy mix and, despite the climate change concerns, it is likely to maintain this position for the next decades. In this paper a numerical model is developed to investigate the evolution of the international market for steam coal, the coal type used for electricity generation. The main focus is on future trade ows and investments in production ...
2010| Clemens Haftendorn, Franziska Holz, Christian von Hirschhausen
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Diskussionspapiere 1034 / 2010
This paper looks into various models that address strategic behavior in the supply of gas by the Mexican monopoly Pemex. The paper has three very strong technical results. First, the netback pricing rule for the price of domestic natural gas (based on a Houston benchmark price) leads to discontinuities in Pemex's revenue function. Second, having Pemex pay for the gas it uses and the gas it flares increases ...
2010| Dagobert L. Brito, Juan Rosellón
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Refereed essays Web of Science
We provide the description, mathematical formulation and illustrative results of the World Gas Model, a multi-period complementarity model for the global natural gas market with explicit consideration of market power in the upstream market. Market players include producers, traders, pipeline and storage operators, LNG (liquefied natural gas) liquefiers and regasifiers as well as marketers. The model ...
In:
Energy
35 (2010), 10, S. 4016-4029
| Ruud Egging, Franziska Holz, Steven A. Gabriel
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Refereed essays Web of Science
Coal continues to play an important role in the global energy sector and with the increase in international trade a global market for steam coal has developed. We investigate market structure and recent price developments with a numerical modeling approach and develop two partial equilibrium models, a quantity based model and a model additionally incorporating energy values. We compare two possible ...
In:
The Energy Journal
31 (2010), 4, S. 205-229
| Clemens Haftendorn, Franziska Holz
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Diskussionspapiere 1030 / 2010
Boone (2008a) proposes a new competition measure based on Relative Profit Differences (RPD) with superior theoretical properties. However, the empirical applicability and robust-ness of the Boone-Indicator is still unknown. This paper aims to address that question. Using a rich, newly built, data set for German manufacturing enterprises, we test the empirical valid-ity of the Boone-Indicator using ...
2010| Alexander Schiersch, Jens Schmidt-Ehmcke
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Refereed essays Web of Science
This paper examines the effects of firm-level innovation in carbon-abatement technologies on optimal cap-and-trade schemes with and without price controls. We characterize optimal cap-and-trade regulation with a price cap and a price floor, and compare it to the special cases of pure taxation and a simple emissions cap. Innovation shifts the tradeoff between price- and quantity-based instruments towards ...
In:
Journal of Environmental Economics and Management
60 (2010), 2, S. 115-132
| Thomas A. Weber, Karsten Neuhoff
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Refereed essays Web of Science
We empirically demonstrate a practical approach of efficiency evaluation with limited data availability in some regulated industries. We apply PCA-DEA for radial efficiency measurement to U.S. natural gas transmission companies in 2007. PCA-DEA reduces dimensions of the optimization problem while maintaining most of the variation in the original data. Our results suggest that the methodology reduces ...
In:
Review of Network Economics
9 (2010), 2, Article 4
| Maria Nieswand, Astrid Cullmann, Anne Neumann
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Refereed essays Web of Science
In 1997, the Comision Reguladora de Energia of Mexico implemented a netback rule for linking the Mexican natural gas price to the Texas price. At that time, the Texas price reflected a reasonably competitive market. There have been dramatic increases in the demand for gas, and there are various bottlenecks in the supply of gas. As a result, the price of gas in Texas now reflects the quasi-rents created ...
In:
The Southern Economic Journal
76 (2010), 4, S. 1131-1136
| Dagobert L. Brito, Juan Rosellón
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Diskussionspapiere 1045 / 2010
It is increasingly observable that in different industries competitors jointly acquire and share customer data. We propose a modified Hotelling model with two-dimensional consumer heterogeneity to analyze the incentives for such agreements and their welfare implications. In our model the incentives of firms for data acquisition and sharing depend on the willingness of consumers to switch brands. Firms ...
2010| Nicola Jentzsch, Geza Sapi, Irina Suleymanova