Some economics of seasonal gas storage
We propose a model of seasonal gas markets which is flexible enough to include supply and demand shocks while also considering exhaustibility. The relative performances of alternative policies based on price caps and associated measures or tariffs are discussed. We illustrate with structural estimates on US data how this theory can be used to give insights into the intertemporal incidence of policy instruments.
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Peter Helmberger & Rob Weaver, 1977. "Welfare Implications of Commodity Storage under Uncertainty," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 59(4), pages 639-651.
- Williams,Jeffrey C. & Wright,Brian D., 2005.
"Storage and Commodity Markets,"
Cambridge University Press, number 9780521023399, September.
- Williams,Jeffrey C. & Wright,Brian D., 1991. "Storage and Commodity Markets," Cambridge Books, Cambridge University Press, number 9780521326162, September.
- Paul W. MacAvoy & Robert S. Pindyck, 1973. "Alternative Regulatory Policies for Dealing with the Natural Gas Shortage," Bell Journal of Economics, The RAND Corporation, vol. 4(2), pages 454-498, Autumn.
- MacAvoy, Paul W. & Pindyck, Robert S., 1973. "Alternative regulatory policies for dealing with the natural gas shortage," Working papers 659-73., Massachusetts Institute of Technology (MIT), Sloan School of Management.
- Just, Richard & Lutz, Ernst & Schmitz, Andrew & Turnovsky, Stephen, 1978. "The distribution of welfare gains from price stabilization : An international perspective," Journal of International Economics, Elsevier, vol. 8(4), pages 551-563, November.
- Darrell Hueth & Andrew Schmitz, 1972. "International Trade in Intermediate and Final Goods: Some Welfare Implications of Destabilized Prices," The Quarterly Journal of Economics, Oxford University Press, vol. 86(3), pages 351-365.
- Modjtahedi, Bagher & Movassagh, Nahid, 2005. "Natural-gas futures: Bias, predictive performance, and the theory of storage," Energy Economics, Elsevier, vol. 27(4), pages 617-637, July.
- David J. Teece, 1990. "Structure and Organization of the Natural Gas Industry: Differences between the United States and the Federal Republic of Germany and Implications for the Carrier Status of Pipelines," The Energy Journal, International Association for Energy Economics, vol. 0(Number 3), pages 1-36.
- Rocío Uría & Jeffrey Williams, 2007. "The Supply of Storage for Natural Gas in California," The Energy Journal, International Association for Energy Economics, vol. 0(Number 3), pages 31-50.
- Uria, Rocio & Williams, Jeffrey C., 2005. "The "supply-of-storage" for natural gas in California," 2005 Annual meeting, July 24-27, Providence, RI 19288, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
- Richard E. Just & Ernst Lutz & Andrew Schmitz & Stephen Tumovsky, 1977. "The Distribution of Welfare Gains from International Price Stabilization under Distortions," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 59(4), pages 652-661.
- Hirschhausen, Christian von, 2008. "Infrastructure, regulation, investment and security of supply: A case study of the restructured US natural gas market," Utilities Policy, Elsevier, vol. 16(1), pages 1-10, March.
- Holbrook Working, 1948. "Theory of the Inverse Carrying Charge in Futures Markets," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 30(1), pages 1-28.
- Amundsen, Eirik Schroder, 1991. "Seasonal fluctuations of demand and optimal inventories of a non-renewable resource such as natural gas," Resources and Energy, Elsevier, vol. 13(3), pages 285-306, September.
- S. Devadoss, 1992. "Market Interventions, International Price Stabilization, and Welfare Implications," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 74(2), pages 281-290.
- Benton F. Massell, 1969. "Price Stabilization and Welfare," The Quarterly Journal of Economics, Oxford University Press, vol. 83(2), pages 284-298.
- Brian D. Wright & Jeffrey C. Williams, 1982. "The Roles of Public and Private Storage in Managing Oil Import Disruptions," Bell Journal of Economics, The RAND Corporation, vol. 13(2), pages 341-353, Autumn.
- Mark Lowry & Joseph Glauber & Mario Miranda & Peter Helmberger, 1987. "Pricing and Storage of Field Crops: A Quarterly Model Applied to Soybeans," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 69(4), pages 740-749.
- Wilson, Robert B, 1989. "Efficient and Competitive Rationing," Econometrica, Econometric Society, vol. 57(1), pages 1-40, January.
- Pyatt, Graham, 1978. "Marginal Costs, Prices and Storage," Economic Journal, Royal Economic Society, vol. 88(352), pages 749-762, December. Full references (including those not matched with items on IDEAS)
When requesting a correction, please mention this item's handle: RePEc:eee:enepol:v:36:y:2008:i:11:p:4235-4246. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Dana Niculescu)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.