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Hedging and Vertical Integration in Electricity Markets
Aïd, René; Chemla, Gilles; Porchet, Arnaud; Touzi, Nizar - C.E.P.R. Discussion Papers - 2011
This paper analyzes the interactions between competitive (wholesale) spot, retail, and forward markets and vertical … forward hedging and vertical integration are two separate mechanisms for demand and spot price risk diversification that both … the impact of forward markets and vertical integration on prices, risk premia and retail market shares. We point out that …
Persistent link: https://www.econbiz.de/10008925710
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Forward Hedging and Vertical Integration in Electricity Markets.
Chemla, Gilles; Porchet, Arnaud; Touzi, Nizar; Aïd, René - Université Paris-Dauphine
This paper analyzes the interactions between vertical integration and (wholesale) spot, forward and retail markets in … and forward hedging are two separate levers for demand and spot price risk diversification. We show that they are … highly risk averse downstream agents, vertical integration may be a better way to diversify risk than spot, forward and …
Persistent link: https://www.econbiz.de/10009370236
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Revisiting the forward—spot relation: an application of the nonparametric long-run correlation coefficient
Kanas, Angelos; Ioannidis, Christos - In: Journal of Economics and Finance 36 (2012) 1, pp. 148-161
Persistent link: https://www.econbiz.de/10010998978
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Forward Hedging and Vertical Integration in Electricity Markets
Chemla, Gilles; Porchet, Arnaud; Touzi, Nizar; Aïd, René - Université Paris-Dauphine (Paris IX) - 2009
This paper analyzes the interactions between vertical integration and (wholesale) spot, forward and retail markets in … and forward hedging are two separate levers for demand and spot price risk diversification. We show that they are … highly risk averse downstream agents, vertical integration may be a better way to diversify risk than spot, forward and …
Persistent link: https://www.econbiz.de/10011073085
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Czech Koruna and Polish Zloty; Spot and Currency Option Volatility Patterns
Morales, Armando Méndez - International Monetary Fund (IMF) - 2001
Exchange rate flexibility has facilitated an impressively fast insertion of the Czech koruna and the Polish zloty into the global currency market. However, exchange rate volatility patterns differ: Lower volatility is observed for the koruna against the euro relative to the U.S. dollar, while...
Persistent link: https://www.econbiz.de/10005826189
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Domestic and foreign announcements on unconventional monetary policy and exchange rates
Diez, Federico J.; Presno, Ignacio - In: Public Policy Brief (2013)
, refinancing operations, and forward guidance) have on nominal exchange rates. To this end, the authors use high-frequency intra …
Persistent link: https://www.econbiz.de/10010744732
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Currency Wars Yesterday and Today
Brahmbhatt, Milan; Canuto, Otaviano; Ghosh, Swati - In: World Bank - Economic Premise (2010) 43, pp. 1-6
An energetic debate on the danger of a global currency war has flared up in recent months, stoked by a renewed move to “quantitative easing” in the United States, resurgent capital flows to developing countries and strong upward pressure on emerging market currencies. This Economic Premise...
Persistent link: https://www.econbiz.de/10008837659
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India’s Recent Macroeconomic Performance: An Assessment and Way Forward
Kapur, Muneesh; Mohan, Rakesh - International Monetary Fund (IMF) - 2014
The macroeconomic policy response in India after the North Atlantic financial crisis (NAFC) was rapid. The overshooting of the stimulus and its gradual withdrawal sowed seeds for inflationary and BoP pressures and growth slowdown, then exacerbated by domestic policy bottlenecks and volatility in...
Persistent link: https://www.econbiz.de/10011142116
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Managing Financial Crises; Recent Experience and Lessons for Latin America
Kincaid, G. Russell; Collyns, Charles - International Monetary Fund (IMF) - 2003
This paper seeks to draw lessons from the IMF’s experience in handling financial crises around the globe over the past ten years that are relevant to the challenges faced by countries in Latin America, especially in the wake of the recent crisis in Argentina. Experience suggests that...
Persistent link: https://www.econbiz.de/10005824823
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Stabilization and Reforms in Latin America; A Macroeconomic Perspective of the Experience Since the 1990s
Belaisch, Agnes; Collyns, Charles; Masi, Paula De; … - International Monetary Fund (IMF) - 2005
This study examines external and domestic influences on Latin America’s economic performance over the past decade and a half. It notes that over the past few years, macroeconomic policies have strengthened and structural reforms have been implemented. Together with a favorable external...
Persistent link: https://www.econbiz.de/10005824870