Format:
13, 4 S.
,
graph. Darst.
Series Statement:
National Bureau of Economic Research 〈Cambridge, Mass.〉: NBER working paper series 11033
Content:
"This paper examines the relationship between spot and futures prices for energy commodities (crude oil, gasoline, heating oil markets and natural gas). In particular, we examine whether futures prices are (1) an unbiased and/or (2) accurate predictor of subsequent spot prices. We find that while futures prices are unbiased predictors of future spot prices, with the exception those in the natural gas markets at the 3-month horizon. Futures do not appear to well predict subsequent movements in energy commodity prices, although they slightly outperform time series models"--National Bureau of Economic Research web site.
Additional Edition:
Erscheint auch als Online-Ausgabe
Language:
English
Subjects:
Economics
URL:
Volltext
(kostenfrei)
Author information:
Chinn, Menzie David
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