منابع مشابه
The Price of Oil Risk
We solve a Pareto risk-sharing problem with heterogeneous agents with recursive utility over multiple goods. We use this optimal consumption allocation to derive a pricing kernel and the price of oil and related futures contracts. This gives us insight into the dynamics of risk premia in commodity markets for oil. As an example, in a calibrated version of our model we show how rising oil prices...
متن کاملRisk Management: Evidence from Oil Price Hedging in Highway Procurement
There is little empirical evidence about risk management heterogeneity across firm types. I evaluate a policy that shifts oil price risk in highway procurement from the private sector to the government, reducing the cost of hedging to zero. In a tripledifferences design using data from Kansas and Iowa, I show that firms value hedging oil price risk between the auction and commencement of work. ...
متن کاملOil Price Shocks and Inflation
The historical record Figure 1 plots the price of oil relative to the core personal consumption expenditures price index (PCEPI) together with the core PCEPI inflation rate. (Core measures of inflation exclude food and energy prices.) The figure shows that the price of oil jumped sharply twice in the 1970s, as did inflation. But this relationship appears to have deteriorated over the latter par...
متن کاملCrude Oil Price Determinants
Based on monthly observations, I specify an econometric model capturing the driving forces behind the crude oil price series in recent years. A large set of covariates, such as supply and demand variables as well as futures market variables, is used to test the impact on the crude oil price. Current price movements are a result of scarce refining capacity and speculators betting on higher price...
متن کاملIndoor Smoke Exposure and Risk of Anthracosis
The association between indoor smoke exposure due to traditional baking (baking homemade bread) and anthracosis has rarely been investigated. The aim of the present study is to quantify such association among the Iranian population. A hospital based case-control study was carried out on 83 anthracotic cases and 155 controls (83 individuals with non-anthracotic pulmonary disorders from the pulmo...
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ژورنال
عنوان ژورنال: Finance Research Letters
سال: 2020
ISSN: 1544-6123
DOI: 10.1016/j.frl.2020.101882