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576 results, from 461
  • Diskussionspapiere 911 / 2009

    A Simple Model of an Oil Based Global Savings Glut: The "China Factor" and the OPEC Cartel

    The purpose of this contribution is to illustrate the mechanism by which higher oil prices might lead to lower interest rates in the context of a simple model that takes into account the global external savings equilibrium. The simple model has interesting implications for how one views the huge US current account deficit and how the emergence of China's savings surplus and oil supply shocks impact ...

    2009| Ansgar Belke, Daniel Gros
  • Externe Monographien

    An Analysis of Methane Mitigation as a Response to Climate Change

    Frederiksberg: Copenhagen Consensus Center, 2009, 38 S.
    (Copenhagen Consensus of Climate)
    | Claudia Kemfert, Wolf-Peter Schill
  • Weitere externe Aufsätze

    Climate Protection Requirements: The Economic Impact of Climate Change

    In: Andreas Bausch, Burkhard Schwenker (Eds.) , Handbook Utility Management
    Berlin [u.a.] : Springer
    S. 725-739
    | Claudia Kemfert
  • Refereed essays Web of Science

    Does the European Natural Gas Market Pass the Competitive Benchmark of the Theory of Storage? Indirect Tests for Three Major Trading Points

    This paper presents the first comparative analysis of the relationship between natural gas storage utilization and price patterns at three major European trading points. Using two indirect tests developed by (Fama and French, 1987) and (Fama and French, 1988) that are applied in other commodity markets, we impose the no arbitrage condition to model the efficiency of the natural gas market. The results ...

    In: Energy Policy 37 (2009), 12, S. 5432-5439 | Marcus Stronzik, Margarethe Rammerstorfer, Anne Neumann
  • Weekly Report 12 / 2009

    Baltic Sea Pipeline: The Profits Will Be Distributed Differently

    In late 2005, the German energy companies E.ON and Wintershall and Russian Gazprom reached an agreement to build a new huge pipeline Nord Stream through the Baltic Sea. This pipeline will provide Russia for the first time ever with the direct access to its Western European customers. This pipeline will contribute to the security of the Western Europe's energy supply through creating an alternative ...

    2009| Franz Hubert, Irina Suleymanova
  • Diskussionspapiere 821 / 2008

    Theory of Storage: An Empirical Assessment of the European Natural Gas Market

    We analyze the relation between European natural gas storage facilities and price patterns at major trading points, considering the theory of storage to derive a testable hypothesis imposed by the non-arbitrage condition. To model the efficiency of the natural gas market, we apply two indirect tests absent the scarcity of European inventory data. We find that operators of storage facilities realize ...

    2008| Marcus Stronzik, Margarethe Rammerstorfer, Anne Neumann
  • Diskussionspapiere 822 / 2008

    Linking Natural Gas Markets: Is LNG Doing Its Job?

    The increase in liquefied natural gas trade has accelerated the integration of previously segmented markets in North America, Europe, and Asia. This paper provides evidence on the integration of the transatlantic natural gas market. We test the theoretical proposition that in integrating markets commodity prices should move closer than before. Using 2,059 pairs of daily spot prices for natural gas ...

    2008| Anne Neumann
  • Diskussionspapiere 818 / 2008

    Analysis of the World Market for Steam Coal Using a Complementarity Model

    With its resource availability and the prospect of climate friendly technology, coal continues to play an important role in the global energy sector. We develop a complementarity model of the international market for steam coal. We want to analyze the level of competition in this market which is strategic for the importers' security of energy supply. In a spatial equilibrium framework, we assume the ...

    2008| Clemens Haftendorn, Franziska Holz
  • Diskussionspapiere 823 / 2008

    Perspectives of the European Natural Gas Markets until 2025

    We apply the EMF 23 study design to simulate the effects of the reference case and the scenarios to European natural gas supplies to 2025. We use GASMOD, a strategic severallayer model of European gas supply, consisting of upstream natural gas producers, traders in each consuming European country (or region), and final demand. Our model results suggest rather modest changes in the overall supply situation ...

    2008| Franziska Holz, Christian von Hirschhausen, Claudia Kemfert
  • Nicht-referierte Aufsätze

    10 Years of Natural Gas Sector Regulation in Germany - with Special Focus on Self Regulation through Association Agreements ("Verbändevereinbarungen")

    In: Zeitschrift für Energiewirtschaft (2008), 3, S. 171-176 | Georg Meran, Christian von Hirschhausen
576 results, from 461