This chapter develops a no-arbitrage, futures equilibrium cost-of-carry model to demonstrate that the existence of cointegration between spot and futures prices in the New York Mercantile Exchange (NYMEX) crude oil market depends crucially on the time-series properties of the underlying model....

The Bureau of Economic Analysis (BEA) regularly publishes data on the current state and anticipated future of the domestic economy. This information is frequently used, mainly in a qualitative sense, by policymakers and other economic agents to assess the direction of economic activity. This...

Economic interdependence between nations has been the focus of considerable research. A particular avenue of international interrelationship that has received a great deal of recent attention is the integration of international stock markets. Increased trade between nations implies that domestic...