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Long Term Contracts in International Trade

Amann, Erwin; Marin, Dalia - C.E.P.R. Discussion Papers - 1990

Countertrade agreements in international trade refer to a practice in which an exporter agrees to purchase in the future, from the importer, commodities proportional to his original export sale. The paper analyzes why it might be efficient for agents to undertake trade through a reciprocal...

Persistent link: https://www.econbiz.de/10005791831

What Do We Learn from the Price of Crude Oil Futures?

Alquist, Ron; Kilian, Lutz - C.E.P.R. Discussion Papers - 2007

Based on a two-country, two-period general equilibrium model of the spot and futures markets for crude oil, we show that there is no theoretical support for the common view that oil futures prices are good predictors of the spot price in the mean-squared error sense; yet under certain conditions...

Persistent link: https://www.econbiz.de/10005792183

The Role of Speculation in Oil Markets: What Have We Learned So Far?

Fattouh, Bassam; Kilian, Lutz; Mahadeva, Lavan - C.E.P.R. Discussion Papers - 2012

A popular view is that the surge in the price of oil during 2003-08 cannot be explained by economic fundamentals, but was caused by the increased financialization of oil futures markets, which in turn allowed speculation to become a major determinant of the spot price of oil. This interpretation...

Persistent link: https://www.econbiz.de/10011084244

Does Regulatory Harmonization Increase Bilateral Asset Holdings?

Vlachos, Jonas - C.E.P.R. Discussion Papers - 2004

By combining new data on bilateral asset holdings with data on securities regulation in an empirical gravity model, it … is found that bilateral differences in securities regulation lead to decreased portfolio holdings. Hence, regulatory … the exogenous component of asset holdings to be associated with larger differences in securities regulation. This might …

Persistent link: https://www.econbiz.de/10005124356