Most US consumers are charged a near-constant retail price for electricity, despite substantial hourly variation in the …-time pricing" for electricity and increase price elasticity of demand. This paper simulates the effects of this increased demand … elasticity using counterfactual simulations in a structural model of the Pennsylvania-Jersey-Maryland electricity market. The …

This paper examines the relationship between spot and futures prices for a broad range of commodities, including energy … and/or (2) accurate predictor of subsequent spot prices. While energy futures prices are generally unbiased predictors of …

hedging their oil price risk. …

instruments can explain much of the in-sample variation in borrowing spreads, this fails to materialize in hedging strategies that … and innovation costs could justify the limited interest for this type of hedging in practice …

passive versus active hedging. In addition, it outlines a set of widely accepted best practices in managing currency risk and … presents some of the main hedging instruments in the OTC and exchange-traded markets. The paper also provides some data on the … use of financial derivatives instruments, and hedging practices by U.S. firms. …

This paper uses a dynamic optimization model to estimate the welfare gains of hedging against commodity price risk for … commodity-exporting countries. The introduction of hedging instruments such as futures and options enhances domestic welfare …