This paper analyzes the role of price discovery of Shanghai fuel oil futures market by using methods, such as unit root test, co-integration test, error correction model, Granger causality test, impulse-response fimct...This paper analyzes the role of price discovery of Shanghai fuel oil futures market by using methods, such as unit root test, co-integration test, error correction model, Granger causality test, impulse-response fimction and variance decomposition. The results showed that there exists a strong relationship between the spot price of Huangpu fuel oil spot market and the futures price of Shanghai fuel oil futures market. In addition, the Shanghai fuel oil futures market exhibits a highly effective price discovery function.展开更多
Ladies and Gentlemen,Dear friends,I’m delighted to attend the roundtable discussion jointly held by the Chinese Association for International Understanding (CAFIU) and Jean Jaurès Foundation of France,and have e...Ladies and Gentlemen,Dear friends,I’m delighted to attend the roundtable discussion jointly held by the Chinese Association for International Understanding (CAFIU) and Jean Jaurès Foundation of France,and have exchanges with you in person who have been supportive展开更多
文摘This paper analyzes the role of price discovery of Shanghai fuel oil futures market by using methods, such as unit root test, co-integration test, error correction model, Granger causality test, impulse-response fimction and variance decomposition. The results showed that there exists a strong relationship between the spot price of Huangpu fuel oil spot market and the futures price of Shanghai fuel oil futures market. In addition, the Shanghai fuel oil futures market exhibits a highly effective price discovery function.
文摘Ladies and Gentlemen,Dear friends,I’m delighted to attend the roundtable discussion jointly held by the Chinese Association for International Understanding (CAFIU) and Jean Jaurès Foundation of France,and have exchanges with you in person who have been supportive
