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Refereed essays Web of Science
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; it thus complements other papers in the EMF 23 study that focus on prices and international natural gas trade. We test the theoretical proposition that in integrating markets ...
In:
The Energy Journal
(2009), Special Issue, S. 187-200
| Anne Neumann
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Diskussionspapiere 869 / 2009
This paper proposes a partial equilibrium model to describe the global crude oil market. Pricing on the global crude oil market is strongly influenced by price indices such as WTI (USA) and Brent (Northwest Europe). Adapting an approach for pool-based electricity markets, the model captures the particularities of these benchmark price indices and their influence on the market of physical oil. This ...
2009| Daniel Huppmann, Franziska Holz
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Weitere externe Aufsätze
In:
Anna Creti (Ed.) ,
The Economics of Natural Gas Storage
Berlin [u.a.] : Springer
S. 13-29
| Anne Neumann, Georg Zachmann
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Diskussionspapiere 898 / 2009
This paper examines the interactions between money, consumer prices and commodity prices at a global level from 1970 to 2008. Using aggregated data for major OECD countries and a cointegrating VAR framework, we are able to establish long run and short run relationships among these variables while the process is mainly driven by global liquidity. According to our empirical findings, different price ...
2009| Ansgar Belke, Ingo G. Bordon, Torben W. Hendricks
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Diskussionspapiere 911 / 2009
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
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Other refereed essays
This paper provides an empirical analysis linking two theories of firms' strategic behavior. We analyze corporate strategies in the emerging global market for liquefied natural gas. First, following Porter, we identify three strategic target market positions: chain optimization, flexibility strategy, and national oil companies (NOCs). Each target market position is supported by an underlying resource ...
In:
Journal of Institutional Economics
5 (2009), 1, S. 47-64
| Sophia Rüster, Anne Neumann
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Weekly Report 12 / 2009
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
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Weekly Report 22 / 2009
In spite of the sharp decline of crude oil prices since the fall of 2008, the current price level of approximately $65 per barrel is significantly higher than the long-term average. The market power of the Organization of Petroleum Exporting Countries (OPEC), which is partially responsible for this price level, remains strong. While market prices for commodities such as coal are typically reflecting ...
2009| Christian von Hirschhausen, Franziska Holz, Daniel Huppmann, Claudia Kemfert
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Weekly Report 20 / 2009
According to conservative calculations, over $580 billion was spent worldwide on environmental goods and services and renewable energy technologies1 in 2004. So-called "green spending" is set for strong growth in the future on account of the long-term expansion of the global economy and mounting environmental challenges. Significant opportunities for growth and employment in Germany are also offered ...
2009| Jürgen Blazejczak, Frauke G. Braun, Dietmar Edler
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Weekly Report 23 / 2009
In recent years, CO2 emissions have become the leading basis of assessment for car taxes in most European countries. In July 2009, with a view to pursuing climate policy goals, also Germany began using this factor to assess taxation on cars. The DIW Berlin has carried out a systematic and quantitative comparison of car taxation in Europe.1 The results reveal high tax rates in over ten countries that ...
2009| Dominika Kalinowska, Kerim Keser, Uwe Kunert