We propose a joint modeling of spot electricity prices, forwards prices and other derivative prices, using recent developments in discrete time asset pricing methods based on the notions of stochastic discount factor and of compound autoregressive (or affine) stochastic processes. We show that...

For many years, African countries have experienced slow economic growth. A major policy tool used to address this issue has been preferential market access whereby, certain developed countries have lowered and sometimes eliminated tariffs on imports from Africa. Despite this special treatment,...