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In most IEA Member countries, natural gas demand varies strongly during the year, according to temperature. Flexibility is needed to cover seasonal swings and variations in gas demand, especially for household customers. This book analyses how new flexibility tools and mechanisms are developing with market liberalisation and with the evolution of supply and demand trends. It highlights differences in flexibility requirements and provisions among IEA Member countries.

Gas industry -- Europe. --- Gas industry == Europe. --- Natural gas -- Europe. --- Supply and demand. --- Natural gas --- Gas industry --- Supply and demand --- Business & Economics --- Industries --- Demand and supply --- Industrial production --- Law of supply and demand --- Gas, Natural --- Sour gas --- Economics --- Competition --- Exchange --- Overproduction --- Prices --- Value --- Gases, Asphyxiating and poisonous --- Hydrocarbons --- Natural Gas Market --- Gaz naturel --- Gaz --- Offre et demande --- Industrie

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This paper discusses issues relating to the domestic pricing of petroleum in oil-producing countries. It finds that in most major oil-exporting countries, government policies keep domestic prices below free-market levels, resulting in implicit subsidies that equaled 3.0 percent of GDP, on average, in 1999. Moreover, the paper argues, these petroleum subsidies are inefficient and inequitable-entailing substantial opportunity costs in terms of forgone revenue or productive spending-and also procyclical, complicating macroeconomic management. Nonetheless, the elimination of petroleum subsidies is often politically difficult, although countervailing measures and publicity campaigns can help engender support for reform.

Investments: Energy --- Macroeconomics --- Public Finance --- Allocative Efficiency --- Cost-Benefit Analysis --- Energy and the Macroeconomy --- Energy: Government Policy --- Energy: Demand and Supply --- Prices --- Energy: General --- Macroeconomics: Consumption --- Saving --- Wealth --- Investment & securities --- Energy industries & utilities --- Oil prices --- Oil --- Consumption --- Energy subsidies --- Fuel prices --- Commodities --- National accounts --- Expenditure --- Petroleum industry and trade --- Economics --- Expenditures, Public --- Ecuador

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This paper presents a theoretical and empirical investigation of the role on-the-job search plays in explaining shifts of the unemployment-vacancies relationship (the Beveridge curve). We show that the direction of the shift depends on the parameters of the matching model, regardless of the assumptions made on the relative search effectiveness of employed and unemployed searchers. We estimate a Beveridge Curve equation with a panel of British regions controlling for unobserved aggregate unemployment effects. We find evidence that the rise in on-the-job search in the 1980s has shifted the Beveridge Curve outwards.

Labor --- Mobility, Unemployment, and Vacancies: General --- Unemployment: Models, Duration, Incidence, and Job Search --- Demand and Supply of Labor: General --- Labor Force and Employment, Size, and Structure --- Employment --- Unemployment --- Wages --- Intergenerational Income Distribution --- Aggregate Human Capital --- Aggregate Labor Productivity --- Labour --- income economics --- Labor markets --- Labor force --- Unemployment rate --- Labor market --- Economic theory --- United Kingdom --- Income economics

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Real GDP growth and real effective exchange rate (REER) appreciation appear cointegrated with the current and financial accounts of the U.S. balance of payments. On this basis, we estimate reduced form equations showing that expected changes and shocks to real GDP, the REER, energy prices, and growth in emerging market economies and other industrial countries explain much of the short-term variation in the U.S. current account balance, with the balance worsening as real GDP, energy prices, and the REER increase. In addition, foreign direct investment rises with real growth, while stock market prices affect the composition of capital inflows.

Exports and Imports --- Foreign Exchange --- Public Finance --- Current Account Adjustment --- Short-term Capital Movements --- Energy: Demand and Supply --- Prices --- International economics --- Finance --- Currency --- Foreign exchange --- Energy industries & utilities --- Current account balance --- Financial account --- Current account --- Real effective exchange rates --- Energy pricing --- Balance of payments --- Expenditure --- International finance --- Expenditures, Public --- United States

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There was a surge in the number of employed people looking for another job in the United Kingdom in the 1980s. In this paper, we present a panel analysis of aggregate data and a cross-section analysis of individual data on on-the-job search in the United Kingdom. We find evidence that the availability of jobs and wage dispersion increase on-the-job search. The importance of these results is twofold. First, to the extent that on-the-job search responds to the tightness of the labor market, it can contribute to explaining the observed cyclical behavior of the unemployment outflow rate. Second, as shown in Fuentes (2002), to the extent that changes in on-the-job search can be explained by factors other than labor market tightness, such as wage dispersion, these shift the unemployment-vacancies relationship (the Beveridge curve) and therefore have a role to play in the determination of unemployment.

Labor --- Macroeconomics --- Unemployment: Models, Duration, Incidence, and Job Search --- Wages, Compensation, and Labor Costs: General --- Demand and Supply of Labor: General --- Labor Economics: General --- Employment --- Unemployment --- Wages --- Intergenerational Income Distribution --- Aggregate Human Capital --- Aggregate Labor Productivity --- Labour --- income economics --- Labor markets --- Unemployment rate --- Labor market --- Labor economics --- Economic theory --- United Kingdom --- Income economics