Riva, Fabrice; Lautier, Delphine - Université Paris-Dauphine (Paris IX) - 2004
This article focuses on the impact of derivative markets on the American crude oil market. It first analyses the depth and liquidity of the market, and shows that there is a huge increase in activity from 1989 to 2003. Then the study focuses on prices volatility. The latter is separated into two...