This paper examines the market efficiency of oil spot and futures prices by using both mean-
variance (MV) and stochastic dominance (SD) approaches. Based on the West Texas …

In this article, we examine whether WTI and Brent crude oil spot and futures prices (at 1, 3
and 6 months to maturity) contain a unit root with one and two structural breaks, employing …

The paper develops an oil price forecasting technique which is based on the present value
model of rational commodity pricing. The approach suggests shifting the forecasting problem …

The correct identification of the time series path of non-renewable energy resources has far
reaching consequences for economists and policymakers alike. This study builds on the …

This study investigates the degree of persistence in monthly Brent crude oil spot and futures
prices (at one, two and three months to maturity). The main finding from the full sample …

This paper documents the existence of a significant forecast error on crude oil futures. We
interpret it as a risk premium, which, in part, could have been explained by means of a real …

This paper discusses theories that can explain the zig-zags of oil prices in general and in
particular the recent jump. More precisely, the following explanations are discussed: Homo …

This paper contributes to the literature on crude oil risk premiums by providing ex-ante
measures of these premiums using survey oil price expectations over an extended period …

We study the impact of analyst forecasts on prices to determine whether investors learn
about analyst accuracy. The straight‐forward relationship between supply and price, the …

Stock market efficiency has been one of the most investigated topics of the last century.
Knowing the efficiency of a market has major implications for both investors and …