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Do firms sell forward for strategic reasons? : an application to the wholesale market for natural gas
Eijkel, Remco van; Moraga-González, José Luis - 2010
empirical strategy to test whether oligopolistic frms use forward contracts for strategic motives, for risk-hedging, or for both …. An increase in the number of players weakens the incentives to sell forward for risk-hedging reasons.However, if …
Persistent link: https://www.econbiz.de/10011380799
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Multiple uncertainty, forward-futures markets and international trade
Viaene, Jean-Marie; Zilcha, Itzhak - 1995
Persistent link: https://www.econbiz.de/10000915617
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Do firms sell forward for strategic reasons? : an application to the wholesale market for natural gas
Eijkel, Remco van; Moraga-González, José Luis - 2010
Persistent link: https://www.econbiz.de/10003985259
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More hedging instruments may destablize markets
Brock, William A.; Hommes, Cars H.; Wagener, Florian … - 2008
This paper formalizes the idea that more hedging instruments may destabilize markets when traders are heterogeneous and …
Persistent link: https://www.econbiz.de/10011349702
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Is power production flexibility a substitute for storability? : evidence from electricity futures prices
Kilic, Mehtap; Huisman, Ronald - 2010
in line with the theory of storage. We find the opposite; futures prices from markets with flexible power supply behave … according to the expectations theory. The implicit view from futures prices is that flexibility is not a substitute for …
Persistent link: https://www.econbiz.de/10011381018
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Viewing the relative efficiency of IV estimators in models with lagged and instantaneous feedbacks
Joseph, Agnes S.; Kiviet, J. F. - 2004
We examine the asymptotic efficiency of OLS and IV estimators in a simple dynamic structural model with a constant and two explanatory variables: the lagged dependent variable and an explanatory variable, which is also autoregressive and may include lagged or instantaneous feedbacks from the...
Persistent link: https://www.econbiz.de/10011335214
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Dynamic correlation or tail dependence hedging for portfolio selection
Elkamhi, Redouane; Stefanova, Denitsa - 2011
Persistent link: https://www.econbiz.de/10008907847
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More hedging instruments may destabilize markets
Brock, William A.; Hommes, Cars H.; Wagener, Florian … - 2006
Persistent link: https://www.econbiz.de/10003382994
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Daily exchange rate behaviour and hedging of currency risk
Bos, Charles S.; Mahieu, Ronald J.; Dijk, Herman K. van - 1999
disturbancedensities) are investigated in relation to the hedging decision strategies.Consequently, we can make a distinction between …
Persistent link: https://www.econbiz.de/10011302131
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On the variation of hedging decisions in daily currency risk management
Bos, Charles S.; Mahieu, Ronald J.; Dijk, Herman K. van - 2001
currency hedging strategies, for a series of 7 models,using Bayesian inference and decision analysis. The models differ in the … comparethe hedging decisions and financial returns and utilities as they result from the modellingassumptions and the attitudes …
Persistent link: https://www.econbiz.de/10011313920