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

Version 2 2024-06-17, 21:36
Version 1 2016-11-23, 13:11
journal contribution
posted on 2024-06-17, 21:36 authored by S Narayan, PK Narayan
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.

History

Journal

Energy economics

Volume

62

Pagination

419-427

Location

Amsterdam, The Netherlands

ISSN

0140-9883

Language

eng

Publication classification

C Journal article, C1 Refereed article in a scholarly journal

Copyright notice

2016, Elsevier

Publisher

Elsevier