Papers on Economics of Energy & Resource Markets


This is a listing of my papers on energy and natural resources.
  1. A. De Vany and W. D. Walls.  "Pipeline access and market integration in the natural gas industry: Evidence from cointegration tests."  The Energy Journal, 1993.  http://ideas.repec.org/a/aen/journl/1993v14-04-a01.html 
  2. W. D. Walls.  "Competition, prices, and efficiency in the deregulated gas pipeline network: A multivariate cointegration analysis."  Journal of Energy and Development, 1993.
  3. W. D. Walls.  "A note on the natural gas futures market."  Pacific and Asian Journal of Energy, 1993.
  4. W. D. Walls.  "A cointegration rank test of market linkages with an application to the US natural gas industry."  Review of Industrial Organization, 1994. http://dx.doi.org/10.1007/BF01035658
  5. A. De Vany and W. D. Walls.  "Open access and the emergence of a competitive natural gas market."  Contemporary Economic Policy, 1994.  http://dx.doi.org/10.1111/j.1465-7287.1994.tb00425.x
  6. A. De Vany and W. D. Walls.  "Natural gas industry transformation, competitive institutions and the role of regulation:  Lessons from open access in US natural gas markets."  Energy Policy, 1994.    http://dx.doi.org/10.1016/0301-4215(94)90051-5
  7. W. D. Walls.  "Price convergence across natural gas fields and city markets."  The Energy Journal, 1994. http://ideas.repec.org/a/aen/journl/1994v15-04-a03.html
  8. A. De Vany and W. D. Walls.  "Network connectivity and price convergence: Gas pipeline deregulation."  Research in Transportation Economics, 1994.
  9. W. D. Walls.  "An econometric analysis of the market for natural gas futures."  The Energy Journal, 1995.  http://ideas.repec.org/a/aen/journl/1995v16-01-a05.html
  10. A. De Vany and W. D. Walls.  The Emerging New Order in Natural Gas: Markets versus Regulation.  Quorum Books, 1995.  http://www.greenwood.com/books/printFlyer.aspx?sku=Q944
  11. W. D. Walls.  "Vehicle controls and petrol demand in Hong Kong."  Journal of Energy and Development, 1996.  [Preprint version of paper.]
  12. A. De Vany and W. D. Walls.  "The law of one price in a network:  Arbitrage and price dynamics in natural gas city gate markets."  Journal of Regional Science, 1996.  http://dx.doi.org/10.1111/j.1467-9787.1996.tb01118.x 
  13. W. D. Walls.  "Recent developments in Hong Kong's water heating and cooking fuel market." Energy Exploration & Exploitation, 1996.
  14. W. D. Walls.  "Take-or-pay contracts and efficiency."  Asian Economic Review, 1998.
  15. W. D. Walls.  "Energy policy and energy price dispersion."  Energy Exploration & Exploitation, 1998.
  16. A. De Vany and W. D. Walls.  "Price dynamics in a network of decentralized power markets."  Journal of Regulatory Economics, 1999.   http://dx.doi.org/10.1023/A:1008083026348
  17. W. D. Walls.  "Volatility, volume, and maturity in electricity futures."  Applied Financial Economics, 1999.  http://dx.doi.org/10.1080/096031099332357
  18. F. Rusco and W. D. Walls.  "Competition in a repeated spatial auction market with an application to timber sales."  Journal of Regional Science, 1999.  http://dx.doi.org/10.1111/0022-4146.00143
  19. A. De Vany and W. D. Walls.  "Cointegration analysis of spot electricity prices: Insights on transmission efficiency in the western US."  Energy Economics, 1999.  http://dx.doi.org/10.1016/S0140-9883(99)00019-5
  20. C. Bausell, F. Rusco, and W. D. Walls.  "Lifting the Alaskan oil export ban: An intervention analysis."  The Energy Journal, 2001.  http://ideas.repec.org/a/aen/journl/2001v22-04-a04.html
  21. W. D. Walls, editor.  Regional Transmission Organizations: Restructuring Electricity Transmission in Canada.  The Van Horne Institute, Calgary, 2003.
  22. W. D. Walls and W. Zhang.  "Using extreme value theory to model electricity price risk with an application to the Alberta power market."  Energy Exploration & Exploitation, 2005.   http://dx.doi.org/10.1260/014459805775992690
  23. W. D. Walls, editor.  Research in Energy and Transport Markets.  The Van Horne Institute, Calgary, 2005. 
  24. W. D. Walls and L. Yuan.  "Property rights, labour policy, and worker safety in China's coal mining industry."  In P. Huang, Y. Wang, S. Li, C. Zheng and Z. Mao, editors, Progress in Safety Science and Technology, Science Press, New York, Volume V, pp. 1502-1506, 2006. 
  25. W. Schrade and W. D. Walls.  "Holding companies, market liquidity, and the development of the electric power industry."  Journal of Energy and Development, 32(1):1-14, Autumn 2006.  
  26. W. D. Walls and A. Hollis, editors.  The Alberta Power Market.  The Van Horne Institute, Calgary, 2007.
  27. W. D. Walls and F. Rusco.  "Price effects of boutique motor fuels:  Federal environmental standards, regional fuel choices, and local gasoline prices."  The Energy Journal,  28(3):145-163, July 2007.   http://ideas.repec.org/a/aen/journl/2007v28-03-a08.html
  28. W. D. Walls, F. Rusco, and J. Ludwigson.  "Power plant investment in restructured markets."  ENERGY---The International Journal, 32(8):1403-1413, August 2007.  http://dx.doi.org/10.1016/j.energy.2006.11.002
  29. W. D. Walls.  "Energy industry."  In W. Darity, editor, International Encyclopedia of the Social Sciences, second edition, Macmillan Reference USA, New York, pp. 588-591, 2008.
  30. F. Rusco and W. D. Walls.  "Per-unit bidding rules and buyer under-performance in natural resource sales."  Applied Economics Letters, 15(2):79-83, February 2008.  http://dx.doi.org/10.1080/13504850600705901
  31. W. D. Walls.  "Natural gas and electricity markets."  In L. Hunt and J. Evans, editors, International Handbook on the Economics of Energy, Chapter 20, pp. 456-470, Edward Elgar, 2009.  http://www.e-elgar.co.uk/Bookentry_main.lasso?id=12764
  32. W. D. Walls.  "Petroleum refining industry in China."  Energy Policy, 38(5):2110-2115, May 2010.   http://dx.doi.org/10.1016/j.enpol.2009.06.002
  33. M. Kendix and W. D. Walls.  "Oil industry consolidation and refined product prices:  Evidence from US gasoline terminals."  Energy Policy, 38(7):3498-3507, July 2010.  http://dx.doi.org/10.1016/j.enpol.2010.02.023
  34. M. Kendix and W. D. Walls.  "Estimating the impact of refinery outages on petroleum product prices."  Energy Economics, 32(6):1291-1298, November 2010.  http://dx.doi.org/10.1016/j.eneco.2010.05.016
  35. M. Kendix, F. Rusco and W. D. Walls.  "Biofuels policy and the US market for motor fuels: Empirical analysis of ethanol splashing."  Energy Policy, 39(7):3999-4006, July 2011.  http://dx.doi.org/10.1016/j.enpol.2010.12.045
  36. G. Leung, R. Li and W. D. Walls.  "Transitions in the Chinese market for refined petroleum products."  OPEC Energy Review, 36(3):349-373, September 2012.  http://dx.doi.org/10.1111/j.1753-0237.2012.00215.x
  37. A. Zavaleta, W. D. Walls and F. W. Rusco.  "Refining for export and the convergence of petroleum product prices." Energy Economics, 47:206-214, January 2015.  http://dx.doi.org/10.1016/j.eneco.2014.11.007
  38. W. D. Walls and X. Zheng.  "Shale oil boom and the profitability of U.S. petroleum refiners."  OPEC Energy Review, 40(4):337--353, December 2016.  https://doi.org/10.1111/opec.12089
  39. W. D. Walls and X. Zheng.. "Pipeline capacity rationing and crude oil price differentials: The case of western Canada."  The Energy Journal, 41(1): forthcoming January 2020..
  40. W. D. Walls and A. During.  "Presidential amnesty and Nigerian oil production: A disaggregate econometric analysis."  OPEC Energy Review, forthcoming.  
  41. W. D. Walls and X. Zheng.  "Environmental regulation and safety outcomes: Evidence from Canadian energy pipelines."  Working paper, July 2019.
  42. W. D. Walls and X. Zheng.  "Fracking and structural shifts in oil supply."  Working paper, revised August 2019.
  43. W. D. Walls and L. Yuan.  "Pipeline interconnection and tariff competition ."  In progress.

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