<div class="csl-bib-body">
<div class="csl-entry">Winkler, V. E. (2023). <i>What drives drilling up and prices down? A structural vector autoregressive model of the U.S. Natural Gas Market</i> [Diploma Thesis, Technische Universität Wien]. reposiTUm. https://doi.org/10.34726/hss.2023.108666</div>
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dc.identifier.uri
https://doi.org/10.34726/hss.2023.108666
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dc.identifier.uri
http://hdl.handle.net/20.500.12708/187620
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dc.description
Abweichender Titel nach Übersetzung der Verfasserin/des Verfassers
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dc.description.abstract
This study uses a structural vector autoregressive (SVAR) model to examine the relationships between the intensity of drilling activity (i.e. investment) for natural gas production, natural gas withdrawals, economic activity, and natural gas prices in the United States. The results show that the reaction of drilling to an unexpected change in natural gas prices depends on the source of the price change. Specifically, I find that the reaction of drilling is significantly stronger after an economic activity shock than after a gas demand shock (e.g. due to oil price fluctuations). In addition, it is shown that demand-side factors were more important than supply-side factors in explaining the 85% drop in natural gas prices from June 2008 to April 2012. This contradicts prevailing explanations focused on shale gas development and should dampen the expectations of policymakers seeking to rapidly expand shale gas production in order to obtain similar cheap energy as the U.S. after 2008.
en
dc.language
English
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dc.language.iso
en
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dc.rights.uri
http://rightsstatements.org/vocab/InC/1.0/
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dc.subject
SVAR
de
dc.subject
Energiemarkt
de
dc.subject
Energie und Makroökonomie
de
dc.subject
SVAR
en
dc.subject
Energy Market
en
dc.subject
Energy and the Macroeconomy
en
dc.title
What drives drilling up and prices down? A structural vector autoregressive model of the U.S. Natural Gas Market
en
dc.title.alternative
Was treibt das Drilling nach oben und die Preise nach unten? Ein strukturelles autoregressives Vektormodell des US-Erdgasmarktes
de
dc.type
Thesis
en
dc.type
Hochschulschrift
de
dc.rights.license
In Copyright
en
dc.rights.license
Urheberrechtsschutz
de
dc.identifier.doi
10.34726/hss.2023.108666
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dc.contributor.affiliation
TU Wien, Österreich
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dc.rights.holder
Valentin Elias Winkler
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dc.publisher.place
Wien
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tuw.version
vor
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tuw.thesisinformation
Technische Universität Wien
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tuw.publication.orgunit
E105 - Institut für Stochastik und Wirtschaftsmathematik
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dc.type.qualificationlevel
Diploma
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dc.identifier.libraryid
AC16908122
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dc.description.numberOfPages
62
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dc.thesistype
Diplomarbeit
de
dc.thesistype
Diploma Thesis
en
dc.rights.identifier
In Copyright
en
dc.rights.identifier
Urheberrechtsschutz
de
tuw.advisor.staffStatus
staff
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tuw.advisor.orcid
0000-0001-6043-7181
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item.openaccessfulltext
Open Access
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item.grantfulltext
open
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item.cerifentitytype
Publications
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item.mimetype
application/pdf
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item.openairecristype
http://purl.org/coar/resource_type/c_bdcc
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item.languageiso639-1
en
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item.openairetype
master thesis
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item.fulltext
with Fulltext
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crisitem.author.dept
E105-03 - Forschungsbereich Ökonomie
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crisitem.author.parentorg
E105 - Institut für Stochastik und Wirtschaftsmathematik