Search results for "PRICES"
showing 10 items of 68 documents
The 1430s: a cold period of extraordinary internal climate variability during the early Spörer Minimum with social and economic impacts in north-west…
2016
Changes in climate affected human societies throughout the last millennium. While European cold periods in the 17th and 18th century have been assessed in detail, earlier cold periods received much less attention due to sparse information available. New evidence from proxy archives, historical documentary sources and climate model simulations permit us to provide an interdisciplinary, systematic assessment of an exceptionally cold period in the 15th century. Our assessment includes the role of internal, unforced climate variability and external forcing in shaping extreme climatic conditions and the impacts on and responses of the medieval society in north-western and central Europe. Climate…
Forecasting the volatility of biofuel feedstock prices: the US evidence
2019
Given that, nowadays, 40% of the US corn crop is used for biofuel production, there is a growing concern that the rise in biofuel production might lead to an increase in food prices. However, it is also obvious that significant growth in biofuel use has minimized the demand for fossil fuel and has hence reduced the volume of carbon emissions. It is therefore crucial to model corn market volatility precisely because such an estimate could play a vital role in stabilizing food and biofuel market prices. For this purpose, we consider using the information content of the corn implied volatility (CIV) index to predict the corn futures market return volatility. Using symmetric and asymmetric GARC…
Housing market shocks in italy: A GVAR approach
2020
Abstract In this paper, we use a Global Vector Autoregression (GVAR) model to assess the spatio-temporal mechanism of house price spillovers, also known as “ripple effect”, among 93 Italian provincial housing markets, over the period 2004 − 2016 . In order to better capture the local housing market dynamics, we use data not only on house prices but also on transaction volumes. In particular, we focus on estimating, to what extent, exogenous shocks, interpreted as negative housing demand shocks, arising from 10 Italian regional capitals, impact on their house prices and sales and how these shocks spill over to neighbours housing markets. The negative housing market demand shock hitting the G…
The Interactions between COVID-19 Cases in the USA, the VIX Index and Major Stock Markets
2021
With this study, we aimed to determine (1) the effect of the daily new cases and deaths due to the COVID-19 pandemic in the United States on the CBOE volatility index (VIX index) and (2) the effect of the VIX index on the major stock markets during the early stage of the pandemic period. To do this, we collected and analysed the daily new cases and death numbers during the COVID-19 pandemic period in the United States and the country indexes of the USA (DJI), Germany (DAX), France (CAC40), England (FTSE100), Italy (MIB), China (SSEC) and Japan (Nikkei225) to determine the impact of the VIX index on the major stock markets. We then subjected this data to the Johansen co-integration test and …
Consumers of flowers and ornamental plants: an eploratory survey in the Italian «Mezzogiorno» regions
2010
This paper aims to provide further knowledge of purchase and consumption behaviours with regard to flowers and ornamental plants in the regions of Italian «Mezzogiorno», as an acknowledgement of the centrality of final demand in the chain process. The knowledge of consumption process is fundamental either to the firm – in order to improve commercial strategies – or to competition authorities – with the purpose of implementing more effective policies. From the analysis carried out it emerges that flowers and ornamental plants consumption in the «Mezzogiorno» regions is characterised by a high penetration index and – just with regard to some commodities – by a low purchase frequency. Purchase…
Determining IPO prices for innovative firms: the case of young French bio-medtech firms
2020
International audience; The large number of French biotech firms that have recently gone public prompts us to analyse the role and characteristics of their initial backers and their influence in determining the offer price at the time of the IPO. We assume the offer price is setso as to underprice companies in conjunction with the exit motives of their main shareholders and the nature and characteristics of the venture capital firms backing them. The paper characterizes listed bio-medtech firms, although the resultssometimes fail to reveal underpricing for the 39 bio-medtech firms that went public on Euronext Paris between 2010 and 2016.
Primary Commodity Prices: Co-movements, Common Factors and Fundamentals
2011
The behavior of commodities is critical for developing and developed countries alike. This paper contributes to the empirical evidence on the co-movement and determinants of commodity prices. Using nonstationary panel methods, we document a statistically significant degree of co-movement due to a common factor. Within a Factor Augmented VAR approach, real interest rate and uncertainty, as postulated by a simple asset pricing model, are both found to be negatively related to this common factor. This evidence is robust to the inclusion of demand and supply shocks, which both positively impact on the co-movement of commodity prices.
The Shaping of Public Economic Discourse in Postwar America: The 1947 Meat Shortage and Franco Modigliani’s Meat Plan
2015
Abstract This paper discusses the American debate over price controls and economic stabilization after World War II, when the transition from a war economy to a peace economy was characterized by bottlenecks in the productive system and shortages of food and other basic consumer goods, directly affecting the living standard of the population, the public opinion, and political discourse. Specifically, we will focus on the economist Franco Modigliani and his proposal for a “Plan to meet the problem of rising meat and other food prices without bureaucratic controls.” The plan prepared by Modigliani in October 1947 was based on a system of taxes and subsidies to foster a proper distribution of …
A Simple Operating Strategy of Small-Scale Battery Energy Storages for Energy Arbitrage under Dynamic Pricing Tariffs
2015
Price arbitrage involves taking advantage of an electricity price difference, storing electricity during low-prices times, and selling it back to the grid during high-prices periods. This strategy can be exploited by customers in presence of dynamic pricing schemes, such as hourly electricity prices, where the customer electricity cost may vary at any hour of day, and power consumption can be managed in a more flexible and economical manner, taking advantage of the price differential. Instead of modifying their energy consumption, customers can install storage systems to reduce their electricity bill, shifting the energy consumption from on-peak to off-peak hours. This paper develops a deta…