Static vs. dynamic impacts of unbundling - electricity markets in South America


Schober, Dominik


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URL: https://ub-madoc.bib.uni-mannheim.de/33796
URN: urn:nbn:de:bsz:180-madoc-337961
Document Type: Working paper
Year of publication: 2013
The title of a journal, publication series: ZEW Discussion Papers
Volume: 13-033
Place of publication: Mannheim
Publication language: English
Institution: Sonstige Einrichtungen > ZEW - Leibniz-Zentrum für Europäische Wirtschaftsforschung
MADOC publication series: Veröffentlichungen des ZEW (Leibniz-Zentrum für Europäische Wirtschaftsforschung) > ZEW Discussion Papers
Subject: 330 Economics
Classification: JEL: L42 , L51 , L52 , L94,
Keywords (English): (De)regulation , dynamic panel data analysis , electricity markets , market organization , unbundling , non-discriminatory (third party) access
Abstract: Ownership unbundling and third party access are discussed as two options of unbundling in both the literature and political discussions. Focusing on the South American electricity sector, I contrast static and dynamic impacts of ownership unbundling and third party access regimes on customer prices. Substantially different results are found using dynamic rather than static analysis. In particular, negative short term effects of ownership unbundling found in static models are approximately cancelled out by subsequent positive impacts in the dynamic model. Third party access seems to allow for similar benefits while avoiding the (restructuring) costs of ownership unbundling. Previously estimated static models thus appear to suffer from either omitted variable biases or endogeneity problems of static non-difference models.

Das Dokument wird vom Publikationsserver der Universitätsbibliothek Mannheim bereitgestellt.




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Schober, Dominik (2013) Static vs. dynamic impacts of unbundling - electricity markets in South America. Open Access ZEW Discussion Papers Mannheim 13-033 [Working paper]
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