Arbeitspapier
Elasticities of supply for the US natural gas market
In this paper we investigate natural gas producer's reactions to changes in market prices. We estimate price elasticities of aggregated supply in the most competitive market for natural gas: the United States. Using monthly time series data form 1987 to 2012 our analysis is based on an Autoregressive Distributed Lag (ARDL) Bound Cointegration approach to obtain short and long-run elasticities of natural gas supply. Results suggest that natural gas producers in a competitive market are not able to react to prices in the very short-run but respond inelastic in the long-run. These findings are not only of great value for policy makers but also for gas market modelers.
- Sprache
-
Englisch
- Erschienen in
-
Series: DIW Discussion Papers ; No. 1372
Klassifikation
Wirtschaft
Gas Utilities; Pipelines; Water Utilities
Energy: Demand and Supply; Prices
Single Equation Models; Single Variables: Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes
Multiple or Simultaneous Equation Models: Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes; State Space Models
Gas Utilities; Pipelines; Water Utilities
Energy: Demand and Supply; Prices
Single Equation Models; Single Variables: Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes
Multiple or Simultaneous Equation Models: Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes; State Space Models
Thema
elasticity of supply
natural gas
ARDL
ECM
competitive markets
natural gas
ARDL
ECM
competitive markets
Ereignis
Geistige Schöpfung
(wer)
Ponce, Micaela
Neumann, Anne
Neumann, Anne
Ereignis
Veröffentlichung
(wer)
Deutsches Institut für Wirtschaftsforschung (DIW)
(wo)
Berlin
(wann)
2014
- Handle
- Letzte Aktualisierung
-
12.07.2024, 13:23 MESZ
Objekttyp
- Arbeitspapier
Beteiligte
- Ponce, Micaela
- Neumann, Anne
- Deutsches Institut für Wirtschaftsforschung (DIW)
Entstanden
- 2014
Ähnliche Objekte (12)
Enflasyon dinamiklerindeki değişim: Döviz kuru geçişkenliği güçleniyor mu?
Why has broad money demand been more stable in the euro area than in other economies? A literature review
Import Price Formation and Pricing to Market: A Test on Norwegian Data
Is the demand for euro area M3 stable?
FCVARmodel.m: A matlab software package for estimation and testing in the fractionally cointegrated VAR
Cinema demand in Germany
A markup model of inflation for the euro area
Price convergence and information efficiency in German natural gas markets
The Dynamic Effects of Aggregate Demand, Supply and Oil Price Shocks
Modelling the Demand for Imports and Domestic Output
A Markov switching model of the merit order to compare British and German price formation
VC - A method for estimating time-varying coefficients in linear models
Enflasyon dinamiklerindeki değişim: Döviz kuru geçişkenliği güçleniyor mu?
Why has broad money demand been more stable in the euro area than in other economies? A literature review
Import Price Formation and Pricing to Market: A Test on Norwegian Data
Is the demand for euro area M3 stable?
FCVARmodel.m: A matlab software package for estimation and testing in the fractionally cointegrated VAR
Cinema demand in Germany
A markup model of inflation for the euro area
Price convergence and information efficiency in German natural gas markets
The Dynamic Effects of Aggregate Demand, Supply and Oil Price Shocks
Modelling the Demand for Imports and Domestic Output
A Markov switching model of the merit order to compare British and German price formation
VC - A method for estimating time-varying coefficients in linear models
Enflasyon dinamiklerindeki değişim: Döviz kuru geçişkenliği güçleniyor mu?
Why has broad money demand been more stable in the euro area than in other economies? A literature review
Import Price Formation and Pricing to Market: A Test on Norwegian Data
Is the demand for euro area M3 stable?
FCVARmodel.m: A matlab software package for estimation and testing in the fractionally cointegrated VAR
Cinema demand in Germany
A markup model of inflation for the euro area
Price convergence and information efficiency in German natural gas markets
The Dynamic Effects of Aggregate Demand, Supply and Oil Price Shocks
Modelling the Demand for Imports and Domestic Output
A Markov switching model of the merit order to compare British and German price formation