Many jurisdictions around the world have deregulated utilities and opened retail markets to competition. However … residential electricity market, we document evidence of consumer inertia. We estimate an econometric model of retail choice to …

. Economic liberalizations are measured by a widely used indicator that captures the scope of the market in the economy, and in …

reflected systematically in the price of gold and, hence, that gold price movements, under the maintained hypothesis, should … of gold prices on exchange rates conditional on other monetary and real macroeconomic variables, and applies the …

From 1836 to 2011, the average real rate of price change for gold in the United States is 1.1% per year and the … gold's real rate of price change with consumption and GDP growth rates are small and statistically insignificantly … different from zero. These negligible covariances suggest that gold's expected real rate of return--which includes an unobserved …

While gold objects have existed for thousands of years, gold's role in diversified portfolios is not well understood …. We critically examine popular stories such as 'gold is an inflation hedge'. We show that gold may be an effective hedge … if the investment horizon is measured in centuries. Over practical investment horizons, gold is an unreliable inflation …

known price and one asset, gold, with a random rice in terms of the numeraire. Under these assumptions, it is found that the … portfolio in U.S. dollars. Because of the covariance of exchange rates and gold, the exclusion of the latter generates …

We compare the resumption of convertibility into gold by the United States in 1879 and Britain in 1925 to ascertain the …