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The Predictive Content of Energy Futures : An Update on Petroleum, Natural Gas, Heating Oil and Gasoline
Chinn, Menzie D. - 2005
This paper examines the relationship between spot and futures prices for energy commodities (crude oil, gasoline …
Persistent link: https://www.econbiz.de/10012467654
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Effects of Index-Fund Investing on Commodity Futures Prices
Hamilton, James D. - 2014
The last decade brought substantial increased participation in commodity markets by index funds that maintain long positions in the near futures contracts. Policy makers and academic studies have reached sharply different conclusions about the effects of these funds on commodity futures prices....
Persistent link: https://www.econbiz.de/10012458772
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Do Gasoline Prices Respond Asymmetrically to Crude Oil Price Changes?
Borenstein, Severin - 1992
Our empirical investigation confirms the common belief that retail gasoline prices react more quickly to increases in … competitive spot market for gasoline, perhaps reflecting inventory costs. Wholesale gasoline prices, however, exhibit no asymmetry … this probably reflects short run market power among retail gasoline sellers …
Persistent link: https://www.econbiz.de/10012474832
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Risk Premia in Crude Oil Futures Prices
Hamilton, James D. - 2013
If commercial producers or financial investors use futures contracts to hedge against commodity price risk, the arbitrageurs who take the other side of the contracts may receive compensation for their assumption of nondiversifiable risk in the form of positive expected returns from their...
Persistent link: https://www.econbiz.de/10012459606
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The Predictive Content of Commodity Futures
Chinn, Menzie D. - 2010
This paper examines the relationship between spot and futures prices for a broad range of commodities, including energy, precious and base metals, and agricultural commodities. In particular, we examine whether futures prices are (1) an unbiased and/or (2) accurate predictor of subsequent spot...
Persistent link: https://www.econbiz.de/10012462821
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Are Commodity Futures Prices Barometers of the Global Economy?
Hu, Conghui - 2013
This paper analyzes whether commodity futures prices traded in the United States reveal information relevant to stock prices of East Asian economies including China, Japan, Hong Kong, South Korea, and Taiwan. We find significant and positive predictive powers of overnight futures returns of...
Persistent link: https://www.econbiz.de/10012458956
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Predicting the Oil Market
Calomiris, Charles W.; Melek, Nida Çakır; Mamaysky, Harry - National Bureau of Economic Research - 2021
We study the performance of many traditional and novel, text-based variables for in-sample and out-of-sample forecasting of oil spot, futures, and energy company stock returns, and changes in oil volatility, production, and inventories. After controlling for small-sample biases, we find evidence...
Persistent link: https://www.econbiz.de/10012660057
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Designing Fuel-Economy Standards in Light of Electric Vehicles
Gillingham, Kenneth - National Bureau of Economic Research - 2021
Electric vehicles are declining in cost so rapidly that they may claim a large share of the vehicle market by 2030. This paper examines a set of practical regulatory design considerations for fuel-economy standards or greenhouse gas standards in the context of highly uncertain electric vehicle...
Persistent link: https://www.econbiz.de/10012599357
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Automobile Prices and Quality : Did the Gasoline Price Increase Change Consumer Tastes in the U.S.?
Ohta, Makoto - 1983
Did the 1973 and 1979 gasoline price rises change consumer views about the relative quality of different cars? This … hedonic model that takes gasoline costs into account is developed and some of its theoretical implications are outlined … to analyze the prices of U.S. passenger cars in the used market during 1970-1981. If one does not take gasoline costs …
Persistent link: https://www.econbiz.de/10012477888
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Why Are Prices Sticky? The Dynamics of Wholesale Gasoline Prices
Davis, Michael C. - 2003
this prediction is broadly consistent with the behavior of 9 Philadelphia gasoline wholesalers. We nevertheless reject the …
Persistent link: https://www.econbiz.de/10012468957