We show that, since the inception of energy futures markets, prices have on average exhibited backwardation. Normal backwardation has also been the norm, but, because of the low power of the standard tests, most…
This paper analyses the level of relative specialisation in terms of gross fixed capital formation in EU regions for the period between 1985 and 1994. Controlling for heteroscedasticity and potential…
The fast growing EU market for investment funds is still characterised by a continuing relevance of national borders. This papers assesses this market’s degree of integration, the potential benefits from more…