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| 1 |
ID:
176799
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| Summary/Abstract |
A major concern with electricity market restructuring has been the possibility that fuel price volatility may leak into electricity prices. This view is credible if electricity price – fuel costs relation is stronger in restructured than in non-restructured states. We examine the validity of this view using panel data on for industrial, residential and commercial sectors in US states. The analysis accounts for cross-sectional dependency, cross-state heterogeneity, and interdependency of state fuel markets. The common correlated effects mean-group estimates suggest that (1) coal and natural gas costs Granger-cause electricity prices for industrial and commercial customers in both non-restructured and restructured states; (2) both fuel costs also Granger-cause electricity prices for residential customers in non-restructured states but only natural gas costs cause electricity prices in restructured states; (3) the long-run impacts of fuel costs on electricity prices are higher in non-restructured than restructured states; and (4) electricity prices exhibit lower persistence in non-restructured than in restructured states. These results are do not support the view of higher integration between input costs and electricity prices in restructured markets. Policymakers should be aware of the differences in electricity price response in alternative market structures when implementing new federal policies.
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| 2 |
ID:
112293
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| Publication |
2012.
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| Summary/Abstract |
Rising and sometimes volatile fuel prices pose a challenge for rural organizations reliant on long distance transport. To understand the coping mechanisms used by such organizations, we survey rural business strategies in Israel, where fuel prices are high and urban development is concentrated in the country's geographic center. The businesses surveyed are operated by kibbutzim, historically collective communities that are now in various stages of privatization. Analysis of the 'transport strategies' employed by nearly 100 organizations in three regions of varying remoteness and isolation shows that firms rely on distinct strategies such as localization and high value density. Localization was found to be prevalent in all regions, as it requires little capital investment. Strategies exploiting high value density, including information-based services, were prevalent in remote and isolated regions where sensitivity to transport costs is acute. Non-remote firms were less inclined toward strategic adaptation, preferring non-disruptive changes such as cheaper shipping modes. The development implications of these transport strategies are consistent with rural economic trends observed throughout the developed world. If transport costs continue to rise, rural firms may shrink the radius of their sales and labor pools, or search for more lucrative products to reduce their relative transport costs.
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| 3 |
ID:
087407
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| Publication |
New York, Praeger, 1981.
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| Description |
xiii, 199p.
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Copies: C:1/I:0,R:0,Q:0
Circulation
| Accession# | Call# | Current Location | Status | Policy | Location |
| 028477 | 338.47621480973/FEN 028477 | Main | On Shelf | General | |
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