This study examines the time series properties of inflation in order to emphasize the nature of the shocks to the process. In particular, we offer evidence that US inflation may be characterized by low frequency permanent shocks, as opposed to the high frequency permanent shocks that is commonly...

This study investigates the relation between petroleum futures spread variability, trading volume, and open interest in an attempt to uncover the source(s) of variability in futures spreads. The study finds that contemporaneous (lagged) volume and open interest provide significant explanation...