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http://hdl.handle.net/10419/57827
  

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dc.contributor.authorBöckers, Veiten_US
dc.contributor.authorHeimeshoff, Ulrichen_US
dc.date.accessioned2012-05-07en_US
dc.date.accessioned2012-05-09T11:40:22Z-
dc.date.available2012-05-09T11:40:22Z-
dc.date.issued2012en_US
dc.identifier.isbn978-3-86304-049-9en_US
dc.identifier.urihttp://hdl.handle.net/10419/57827-
dc.description.abstractThis paper analyzes the convergence process of Central-West European wholesale electricity markets from 2004 to the beginning of 2011. Jevon's law of price indifference is scrutinized using price correlation, parametric and nonparametric tests of price-differences and cointegration analysis. As a unique identifaction strategy national bank holidays are used as exogenous system shocks to trace the degree of market integration before the advent of the so-called market coupling of European power markets. In order to avoid overestimation of the degree of market integration, we specifically control for seasonal effects and common input factors. While the overall degree of integration between Germany and its neighbours has increased in the course of time, results suggest that only Austria and Germany already constitute a joint price area and that market coupling increases the convergence of markets at least between its participants.en_US
dc.language.isoengen_US
dc.publisherDICE Düsseldorfen_US
dc.relation.ispartofseriesDICE Discussion Paper 50en_US
dc.subject.jelC32en_US
dc.subject.jelL1en_US
dc.subject.jelL40en_US
dc.subject.jelL94en_US
dc.subject.jelQ40en_US
dc.subject.ddc330en_US
dc.subject.keywordMarket Structureen_US
dc.subject.keywordSpatial Market Delineationen_US
dc.subject.keywordTime Series Econometricsen_US
dc.subject.keywordEnergy Data, Electricityen_US
dc.subject.keywordEuropeen_US
dc.titleThe extent of European power marketsen_US
dc.typeWorking Paperen_US
dc.identifier.ppn715314424en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
dc.identifier.repecRePEc:zbw:dicedp:50-
Appears in Collections:DICE Discussion Paper, Düsseldorf Institute for Competition Economics (DICE)

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