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Estimating the speed of adjustment to target levels: the case of energy prices

Narayan, Seema and Narayan, Paresh Kumar 2016, Estimating the speed of adjustment to target levels: the case of energy prices, Energy economics, In Press, pp. 1-9, doi: 10.1016/j.eneco.2016.08.016.

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Title Estimating the speed of adjustment to target levels: the case of energy prices
Author(s) Narayan, Seema
Narayan, Paresh Kumar
Journal name Energy economics
Season In Press
Start page 1
End page 9
Total pages 9
Publisher Elsevier
Place of publication Amsterdam, The Netherlands
Publication date 2016-08-24
ISSN 0140-9883
Keyword(s) price adjustment
energy prices
bubbles
Summary In this paper, we propose a model that estimates the speed of energy price adjustment to its target level. We also explain the source of price adjustment. Moreover, we extract energy price bubbles and show that bubbles help explain price adjustment. Since ours is the first paper that develops an energy price adjustment model and links it to bubbles, several avenues for future research have emerged from our analysis. The first is to provide a theoretical framework for the bubbles and price adjustment mechanism. The second direction of research will be to continue the search for other potential determinants of price adjustment.
Language eng
DOI 10.1016/j.eneco.2016.08.016
Field of Research 150202 Financial Econometrics
1402 Applied Economics
0913 Mechanical Engineering
0906 Electrical And Electronic Engineering
Socio Economic Objective 919999 Economic Framework not elsewhere classified
HERDC Research category C1 Refereed article in a scholarly journal
ERA Research output type C Journal article
Copyright notice ©2016, Elsevier
Persistent URL http://hdl.handle.net/10536/DRO/DU:30089212

Document type: Journal Article
Collection: School of Accounting, Economics and Finance
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