{"title":"The Effects of Climate and Oil Prices on Residential Natural Gas Prices: With an Application to 11 OECD Countries","authors":"","doi":"10.46544/ams.v27i3.11","DOIUrl":null,"url":null,"abstract":"This study examines the effects of climate and oil prices on residential natural gas prices in selected 11 OECD countries by using panel data for the period 1992-2016. After applying the panel unit root tests, the parameters are estimated using Common Correlated Effects Pooled (CCEP) method. Moreover, Emirmahmutoglu-Kose (2011) test is used to test the panel causality between the variables. The results revealed that in the long run, the heating degree days have a statistically significant and negative effect on natural gas prices used in the residential sector in selected OECD countries, while there is an insignificant relationship between oil prices and natural gas prices used in the residential sector in these countries. It is also found to be a causality of heating degree days to natural gas prices.","PeriodicalId":50889,"journal":{"name":"Acta Montanistica Slovaca","volume":" ","pages":""},"PeriodicalIF":2.2000,"publicationDate":"2022-12-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Acta Montanistica Slovaca","FirstCategoryId":"89","ListUrlMain":"https://doi.org/10.46544/ams.v27i3.11","RegionNum":4,"RegionCategory":"地球科学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q2","JCRName":"GEOSCIENCES, MULTIDISCIPLINARY","Score":null,"Total":0}
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Abstract
This study examines the effects of climate and oil prices on residential natural gas prices in selected 11 OECD countries by using panel data for the period 1992-2016. After applying the panel unit root tests, the parameters are estimated using Common Correlated Effects Pooled (CCEP) method. Moreover, Emirmahmutoglu-Kose (2011) test is used to test the panel causality between the variables. The results revealed that in the long run, the heating degree days have a statistically significant and negative effect on natural gas prices used in the residential sector in selected OECD countries, while there is an insignificant relationship between oil prices and natural gas prices used in the residential sector in these countries. It is also found to be a causality of heating degree days to natural gas prices.
期刊介绍：
Acta Montanistica Slovaca publishes high quality articles on basic and applied research in the following fields:
geology and geological survey;
mining;
Earth resources;
underground engineering and geotechnics;
mining mechanization, mining transport, deep hole drilling;
ecotechnology and mineralurgy;
process control, automation and applied informatics in raw materials extraction, utilization and processing;
other similar fields.
Acta Montanistica Slovaca is the only scientific journal of this kind in Central, Eastern and South Eastern Europe.
The submitted manuscripts should contribute significantly to the international literature, even if the focus can be regional. Manuscripts should cite the extant and relevant international literature, should clearly state what the wider contribution is (e.g. a novel discovery, application of a new technique or methodology, application of an existing methodology to a new problem), and should discuss the importance of the work in the international context.
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