spot-futures spread), confirming that spot prices mean-revert and normally exceed discounted futures. However, these … percent of daily returns, suggesting other factors are important, too. In this paper, I specify a structural oil-market model …. In addition, I find reversion of spot to futures prices only when backwardation is severe. Convenience yield behaves …

"Gas Market Integration in the Southern Cone" is part of a larger effort by the Inter-American Development Bank (IDB … analysis of the gas industry's evolution in the region, highlighting the drivers of and obstacles to regional market …

market control, have often led to reduced levels of competition. Competition Policy in Regulated Industries identifies …

sidestep the difficult issues related to estimating future prices and demand. This theoretical framework is used to test the … hypothesis of collusive Organization of the Petroleum Exporting Countries (OPEC) behavior between 1983 and 1991. …

oil revenues and the budget process, market mechanisms to hedge against oil price volatility, and a strengthened planning …