This study revisits risk management in the German power market, specifically focusing on conventional thermal power generation. The subsidizing and prioritizing of electricity produced from renewable energy sources (RES) by means of the Renewable Energy Sources Act (EEG) has changed the market's...

In this paper, we present an innovative electricity spot price model, wherein the prices explicitly depend on the realized wind power production. The proposed arithmetic multi-factor approach captures numerous stylized facts of empirical spot price behavior like seasonal variations,...

In this paper we investigate the spillover effects of FOREX and equity markets for USA, Brazil, Italy, Germany and Canada on the basis of daily data. We test for contagion co-movements for the period 2010-2018 post global financial crisis, using the trivariate AR-diagonal BEKK model. The...

This textbook deals with money markets and capital markets along with the management of retirement portfolios. It places a particular focus on interest rate formation, interest rate structure, interest models, and the evaluation of interest-bearing securities