The message in North American energy prices

Authors
Serletis, A Herbert, J
Citation
A. Serletis et J. Herbert, The message in North American energy prices, ENERG ECON, 21(5), 1999, pp. 471-483
Citations number
11
Categorie Soggetti
Economics
Journal title
ENERGY ECONOMICS
ISSN journal
01409883 → ACNP
Volume
21
Issue
5
Year of publication
1999
Pages
471 - 483
Database
ISI
SICI code
0140-9883(199910)21:5<471:TMINAE>2.0.ZU;2-T
Abstract
How similar is the price behavior of North American natural gas, fuel oil, and power prices? Using current state-of-the-art econometric methodology, w e explore the degree of shared trends across North American energy markets. Across these markets, there appear to be effective arbitraging mechanisms for the price of natural gas and fuel oil, but not for the price of electri city. (C) 1999 Elsevier Science B.V. All rights reserved. JEL classificatio ns: C22; C32; Q4.