The hedging efficiency of crude oil markets
This paper considers the measurement of hedging efficiency. It is argued that conventional measures of the efficiency of risk management operations my be unreliable in commodities where the available hedge represents the value of the commodity for forward, rather than prompt, delivery. Considerable...
| Autori principali: | , , |
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| Natura: | Working paper |
| Lingua: | English |
| Pubblicazione: |
Oxford Institute for Energy Studies
1995
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