Pastarųjų metų pokyčiai šalies ekonominėje aplinkoje – lėtėjantis BVP augimas, infliacijos tempų pokytis, didėjančios TUI, nedarbo mastai, pasireiškiantys tam tikrais ūkio raidos dėsningumais ir tendencijomis, įtakoja ūkio subjektų sprendimus ir veiksmus gamtinių dujų...

El aumento de la inversión en industrias extractivas durante los noventa generó importantes beneficios macroeconómicos para el país. Sin embargo, éstos no han logrado traducirse en un mayor desarrollo y bienestar económico de las regiones y localidades. Esta situación, que se repite en...

In many futures markets, trading is concentrated in the front contract and positions are rolled-over until the strategy horizon is attained. In this paper, a pair-wise comparison between the conventional risk premium and the accrued risk premium in rolled-over positions in the front contract is...

In this study, the informational efficiency of the European natural gas market is analyzed by empirically investigating price formation and arbitrage efficiency between spot and futures markets. Econometric approaches are specified that explicitly account for nonlinearities and the low...

This paper is the first to discuss the design of futures hedging strategies in European natural gas markets (NBP, TTF and Zeebrugge). A common feature of energy prices is that conditional mean and volatility are driven by seasonal trends due to weather, demand, and storage level seasonalities....