This article discusses the influence of speculators in the futures market on crude oil prices. The results suggest the dispersion in beliefs influences both crude oil prices and price volatility. -- Crude oil market ; futures market ; speculation

Bis zum Amtsantritt von Gary Gensler ging die US Commodity Futures Trading Commission von einem geringen Einfluss der Spekulanten auf den Rohölpreis aus, während nun eine Neubewertung stattfindet.Dieser Artikel misst die Aktivität der Spekulanten mit Hilfe von Variablen der wöchentlichen...

Das EU Emissions Trading Scheme (ETS) ist als erstes Emissionshandelssystem auf metastaatlicher Ebene implementiert worden. Die USA haben schon vor Beginn der Präsidentschaft Barack Obamas ebenfalls mit den Planungen eines solchen Systems auf Bundesebene begonnen. Der entsprechende...

Changes in communication technology have allowed for the expansion of data collection modes in survey research. The proliferation of the computer has allowed the creation of web and computer assisted auto-interview data collection modes. Virtual worlds are a new application of computer...

Despite abundant empirical evidence on the merits and limits of early-warning systems for banking crises the day-to-day use of such systems seems to be limited. Reluctance to use such systems may partly be explained by the difficulties to operationalise the proposed models, which are often...

This paper presents a novel theoretical and empirical approach to the analysis of long-run economic growth. It shows that most traditional theoretical models share the feature of pair-wise cointegration among the main variables. An augmented Kaldor model is proposed in contrast to the standard...