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Working Paper
Lower oil prices and state employment
Journal Article
The Southwest's stop-and-go economy
Journal Article
California's electricity woes: a vision of the future?
Journal Article
Southwest economy shows strength after second-quarter slowdown
Working Paper
Oil prices and inflation
Working Paper
Deliverability and regional pricing in U.S. natural gas markets
During the 1980s and early '90s, interstate natural gas markets in the United States made a transition away from the regulation that characterized the previous three decades. With abundant supplies and plentiful pipeline capacity, a new order emerged in which freer markets and arbitrage closely linked natural gas price movements throughout the country. After the mid-1990s, however, U.S. natural gas markets tightened and some pipelines were pushed to capacity. We look for the pricing effects of limited arbitrage through causality testing between prices at nodes on the U.S. natural gas ...
Journal Article
Natural gas pricing: do oil prices still matter?
Working Paper
Protecting social interest in free invention
Journal Article
The pricing of natural gas in U.S. markets
Stephen Brown and Mine Ycel examine how different natural gas users and the market institutions serving them affect the transmission of price changes throughout various markets for natural gas. Electrical utilities and industrial users buy much of their natural gas in a competitive spot market served by brokers and interstate pipeline companies. In contrast, most commercial and residential customers are dependent on local distribution companies, which earn a regulated rate of return and buy their gas under long-term contracts. ; Using time-series methods, Brown and Ycel find that even in the ...