European Gas Markets, Trading Hubs, and Price Formation: A Network Perspective

We apply network theory to analyse the interactions of trading hub prices, and to assess the harmonisation of the European gas market. We construct dynamic networks, where the nodes correspond to the twelve EU trading hubs, and where the edges weight the causality between the variations of the respective gas prices. Network density dynamically calculates the aggregate quantity of causal interactions recorded within the system, which provides information pertaining to the integration of the European gas network. We document a number of spikes in network density, suggesting short periods of improved connectivity of European gas markets. We argue that these results appear to be driven by exogenous factors, such as unseasonal weather patterns, seismic activity and pipeline capacity reductions or outages. The findings elucidate the time varying nature of European gas market dynamics, and the importance of continual monitoring of market evolution

Recovering from Violent Conflict : Regeneration and (Re-)Integration as Elements of Peacebuilding

Argues that (re-)integration of refugees and displaced persons is one of the main challenges and a precondition for conflict transformation. In this process, joint efforts are needed that combine development, economic perspectives and empowerment of local actors for civil-society engagement, peace education and social work. Lessons from the Balkans illustrate that coordination of activities is crucial