IDEAS home Printed from https://ideas.repec.org/a/tpe/jtecpo/v41y2007i2p247-256.html
   My bibliography  Save this article

Term Risk Premia in Shipping Markets: Reconciling the Evidence

Author

Listed:
  • Graham Wright

Abstract

Past research into the term structure of freight rates has generally proved unsuccessful in its attempts to establish the expectations hypothesis as applicable to shipping markets. Recent work has provided a possible explanation for such failures by identifying time-varying term risk premia in shipping markets. However, one interesting additional result of this work was to identify contradictory attitudes to term risk between shipping and financial markets. This paper reconsiders the theoretical background for such work and, instead of relying on contradictory attitudes to term risk, reconciles the results by developing an alternative approach to the conventional methodology on term structure. © 2007 LSE and the University of Bath

Suggested Citation

  • Graham Wright, 2007. "Term Risk Premia in Shipping Markets: Reconciling the Evidence," Journal of Transport Economics and Policy, University of Bath, vol. 41(2), pages 247-256, May.
  • Handle: RePEc:tpe:jtecpo:v:41:y:2007:i:2:p:247-256
    as

    Download full text from publisher

    File URL: http://www.catchword.com/cgi-bin/cgi?ini=bc&body=linker&reqidx=0022-5258(20070501)41:2L.247;1-
    Download Restriction: Access to full text is restricted to subscribers.

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Haugh, David & Hazledine, Tim, 1999. "Oligopoly Behaviour in the Trans-Tasman Air Travel Market: TheCase of Kiwi International," Working Papers 195, Department of Economics, The University of Auckland.
    2. Hooper, Paul, 2002. "Privatization of airports in Asia," Journal of Air Transport Management, Elsevier, vol. 8(5), pages 289-300.
    3. Gerald Granderson, 2000. "Regulation, Open-Access Transportation, and Productive Efficiency," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 16(3), pages 251-266, May.
    4. Windle, Robert & Dresner, Martin, 1999. "Competitive responses to low cost carrier entry," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 35(1), pages 59-75, March.
    5. Barrett, Sean D, 2000. "Airport competition in the deregulated European aviation market," Journal of Air Transport Management, Elsevier, vol. 6(1), pages 13-27.
    6. Francis, Graham & Fidato, Alessandro & Humphreys, Ian, 2003. "Airport–airline interaction: the impact of low-cost carriers on two European airports," Journal of Air Transport Management, Elsevier, vol. 9(4), pages 267-273.
    7. David Starkie, 2001. "Reforming UK Airport Regulation," Journal of Transport Economics and Policy, University of Bath, vol. 35(1), pages 119-135, January.
    8. Jean-Jacques Laffont & Patrick Rey & Jean Tirole, 1998. "Network Competition: I. Overview and Nondiscriminatory Pricing," RAND Journal of Economics, The RAND Corporation, vol. 29(1), pages 1-37, Spring.
    9. Avinash Dixit, 1979. "A Model of Duopoly Suggesting a Theory of Entry Barriers," Bell Journal of Economics, The RAND Corporation, vol. 10(1), pages 20-32, Spring.
    10. Tae Hoon Oum & Anming Zhang & Yimin Zhang, 2004. "Alternative Forms of Economic Regulation and their Efficiency Implications for Airports," Journal of Transport Economics and Policy, University of Bath, vol. 38(2), pages 217-246, May.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:tpe:jtecpo:v:41:y:2007:i:2:p:247-256. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Christopher F. Baum). General contact details of provider: http://www.bath.ac.uk/e-journals/jtep .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.