Do events in the natural gas market cause repercussions in the crude oil market? This paper studies linkages between the two markets using high-frequency, intraday oil and gas futures prices. By analyzing the effect of weekly oil and gas inventory announcements on price volatility, we show a...

The ‘Masters Hypothesis’ is the claim that long-only index investment was a major driver of the 2007–2008 spike in commodity futures prices and energy futures prices in particular. Index position data compiled by the CFTC are carefully compared. In the energy markets, index position...

An interconnector is an asset that gives the owner the option to transmit electricity between two locations. In financial terms, the value of an interconnector is the same as a strip of real options written on the spread between power prices in two markets. We model the spread based on a:...

This paper shows that extreme energy price changes, located in the 10% tails of the distribution, cluster across energy futures markets during the boom–bust cycle of 2006 to 2012. Using multinominal logit regressions, we find that the coincidence of such tail events cannot be explained solely...

An interconnector is an asset that gives the owner the option to transmit electricity between two locations. In financial terms, the value of an interconnector is the same as a strip of real options written on the spread between power prices in two markets. We model the spread based on a...

This study brings fresh data to the highly-charged debate about the price impact of long-only index investment in energy futures markets. We use high frequency daily position data for NYMEX crude oil, heating oil, RBOB gasoline, and natural gas that are available from a representative large...

With myriads of policy options being considered to alleviate energy poverty, the financial inclusion-energy poverty nexus has received little attention despite its potential. Using two rounds of living standards survey data from Ghana, this study examines the effect of financial inclusion on...

Among the many reasons policy makers across the world have sought to supplement fuel supplies with ethanol-blended fuels are the cited environmental benefits that come with replacing a fossil-fuel with a cleaner burning alternative. Dual-blend ethanol mandates, in which multiple ethanol blends...

The focus of this paper is on the modeling and estimation of quarterly state-level gasoline demand in the United States. The existing literature may not appropriately evaluate the price elasticity and income elasticity of gasoline demand. Most studies fail to address the possible heterogeneity...

We use a translog cost function to model production in the Irish manufacturing sector over the period from 1991 to 2009. We estimate both own- and cross-price elasticities and Morishima elasticities of substitution between capital, labour, materials and energy. We find that capital and energy...