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Trade in Energy Services: GATS and India

Mukherjee, Arpita; Goswami, Ramneet - 2009

Energy plays a vital role in the development of any economy and given its unequal distribution trade in energy, especially fossil fuels, is an important component of international trade. In the past, due to its public good characteristics, energy-related services were mostly supplied by the...

Persistent link: https://www.econbiz.de/10011807637

It’s So Hot in Here: Information Avoidance, Moral Wiggle Room, and High Air Conditioning Usage

d’Adda, Giovanna; Gao, Yu; Golman, Russell; Tavoni, … - 2018

Environmental policies based on information provision are widespread, but have often proven ineffective. One possible explanation for information’s low effectiveness is that people actively avoid it. We conduct an online field experiment on air conditioning usage to test the theory of moral...

Persistent link: https://www.econbiz.de/10011816768

The transition to electronic trading in the secondary treasury market

Mizrach, Bruce; Neely, Christopher J. - 2006

This article reviews the history of the recent shift to electronic trading in equity, foreign ex- change and fixed-income markets. We analyze a new data set: the eSpeed (Cantor Fitzgerald) electronic Treasury network. We contrast the market microstructure of eSpeed with the tradi- tional voice...

Persistent link: https://www.econbiz.de/10010266349

Risk premia in electricity wholesale spot markets: empirical evidence from Germany

Pietz, Matthäus - 2009

This paper contributes to the ongoing discussion on price formation in electricity markets. For this, we conduct an analysis of the German electricity wholesale spot market which is located at the European Energy Exchange (EEX). Our dataset covers three spot market segments, namely the intraday...

Persistent link: https://www.econbiz.de/10010305694

Risk premia in the German electricity futures market

Pietz, Matthäus - 2009

The mechanism behind price formation in electricity futures markets is still under discussion. Theory suggests that hedging pressure caused by deviating risk preferences is the most promising approach. This paper contributes to this discussion through an empirical investigation of electricity...

Persistent link: https://www.econbiz.de/10010305696

A tale of four tails: Inflation, the policy rate, longer-term rates, and stock prices

Anene, Dominic; D'Amico, Stefania - 2017

We analyze empirical links between the perceived tail-risk of inflation, the policy rate, longer-term interest rates, and equity prices in the U.S. Their simultaneous changes enable us to distinguish between a systematic and "exogenous" response to monetary-policy news. And, those tail...

Persistent link: https://www.econbiz.de/10012030329

Are stock markets really like beauty contests? - Empirical evidence of higher order belief's impact on asset prices

Monnin, Pierre - Institut für Schweizerisches Bankwesen <Zürich>; … - 2004

order belief", on asset price volatility. The paper shows that heterogeneous expectations induce higher order beliefs and … that heterogeneous expectation asset pricing models thoretically generate more volatility than rational expectation models … results shows that a model with higher order beliefs generates a level of volatility in line with the price volatility …

Persistent link: https://www.econbiz.de/10005857785

‘When There is no Place to Hide’: Correlation Riskand the Cross-Section of Hedge Fund Returns

Buraschi, Andrea; Kosowski, Robert; Trojani, Fabio - Swiss National Centre of Competence in Research North … - 2010

This paper analyzes the relation between correlation risk and the cross-section of hedge fund returns.Legal framework and investment mandate imply that hedge funds can be severely exposed tocorrelation risk: Hedge funds ability to enter long-short positions can be useful to reduce marketbeta,...

Persistent link: https://www.econbiz.de/10009248845

Non-Institutional Market Making Behavior: The Dalian Futures Exchange

Jordá, Oscar; Liu, Holly; Williams, Jeffrey - 2002

This paper contains three useful contributions: (1) it collects a new data-set of electronic transaction data on soybean futures from the Dalian Futures Exchange in China that records, not only the usual elements of each transaction (such as price and size) but also identifies broker and...

Persistent link: https://www.econbiz.de/10010318591

Deterministic Seasonal Volatility in a Small and Integrated Stock Market: The Case of Sweden.

Berg, Lennart - 2000

seasonal pattern for the conditional volatility for the Swedish stock market has been found. The daily turnover in the Swedish … stock market has an impact on and eliminates to some extent seasonal patterns in conditional volatility. The daily turnover … correlated. We can also conclude that a feedback from the US stock market to the conditional volatility in the Swedish market …

Persistent link: https://www.econbiz.de/10010321733