Yun, Won-Cheol; Jae Kim, Hyun - In: Energy Policy 38 (2010) 5, pp. 2404-2408
This study analyzes the hedging effectiveness of different hedge type and period by Korean oil traders. Both crude oil price and exchange rate risks are considered. Theoretical models are formulated to estimate the hedge ratios by separate and complex hedge types. The hedging period covers 1-12...