strong impact on both world and European energy markets. In particular, lower U.S. gas and coal prices have changed relative … energy prices both at home and abroad. Finally, competitiveness impacts in some (sub)sectors will be considerable. These …

While fossil energy dependency has declined and energy supply has grown in the postwar world economy, future resource … scarcity could cast its shadow on world economic growth soon if energy markets are forward looking. We develop an endogenous … growth model that reconciles the current aggregate trends in energy use and productivity growth with the intertemporal …

In this paper we investigate the time-varying relationship between oil and natural gas in the UK. We develop a model … endogenously accounts for periods where oil and natural gas temporarily decouple due to gas specific pricing. We show that gas … the time of the year. Most of the reversion back to oil occurs in spring and summer when demand for gas to heating and …

technical progress in the energy sector. We evaluate a range of innovation policies, both as a stand-alone instrument and in …

effects. Furthermore, we find that the standard tends to reduce total fuel (i.e., oil plus biofuels) consumption initially …

When natural gas prices are subject to periodic decoupling from oil prices, for instance due to peak-load pricing … address these issues. Our regime switching model uses price data to infer whether pricing is oil-driven (integrated) or gas …-specific (decoupled). We find that UK natural gas (ICE) and oil (Brent) are cointegrated for the majority of the sample considered (1997 …