Does It Matter Who Trades Energy Derivatives?
AbstractIn the past decade, financial institutions have assumed an ever greater role in energy derivatives (or “paper”) markets. Numerous recent studies provide novel evidence of this “financialization” and analyze the extent to which it helps explain an important aspect of the distribution of energy returns. In this paper, we summarize their findings, identify some questions that remain unanswered, and discuss what data or theoretical breakthroughs could shed light on those issues.
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Bibliographic InfoArticle provided by Fondazione Eni Enrico Mattei in its journal Review of Environment, Energy and Economics.
Volume (Year): (2012)
Issue (Month): (March)
Financial Institutions; Energy Derivatives; Speculation; Financialization; Cross-Market Linkages;
Find related papers by JEL classification:
- G10 - Financial Economics - - General Financial Markets - - - General (includes Measurement and Data)
- G12 - Financial Economics - - General Financial Markets - - - Asset Pricing; Trading Volume; Bond Interest Rates
- G13 - Financial Economics - - General Financial Markets - - - Contingent Pricing; Futures Pricing
- G23 - Financial Economics - - Financial Institutions and Services - - - Non-bank Financial Institutions; Financial Instruments; Institutional Investors
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- Gonzalo Cortazar & Ivo Kovacevic & Eduardo S. Schwartz, 2013. "Commodity and Asset Pricing Models: An Integration," NBER Working Papers 19167, National Bureau of Economic Research, Inc.
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