Effects of the structural change on transaction costs between North America natural gas spot markets
© 2016 Informa UK Limited, trading as Taylor & Francis Group. Threshold cointegration between market pairs before and after the potential structural break associated with the shale gas revolution is examined. Pairwise transaction costs differ between the pre- and post-break periods. During the...
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| Main Authors: | , |
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| Format: | Journal |
| Published: |
2017
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| Online Access: | https://www.scopus.com/inward/record.uri?partnerID=HzOxMe3b&scp=84979084985&origin=inward http://cmuir.cmu.ac.th/jspui/handle/6653943832/40740 |
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| Institution: | Chiang Mai University |
| Summary: | © 2016 Informa UK Limited, trading as Taylor & Francis Group. Threshold cointegration between market pairs before and after the potential structural break associated with the shale gas revolution is examined. Pairwise transaction costs differ between the pre- and post-break periods. During the post-break period, five of seven pairwise transaction costs decrease, while the remaining two pair-wise transaction costs increase relative to the pre-break period. Alterations in natural gas flows as the result of the shale gas revolution partially explain the changes in transaction costs. |
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