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Articles 1 - 6 of 6
Full-Text Articles in Finance and Financial Management
Price Discontinuities In The Market For Rins, Charles F. Mason, Neil A. Wilmot
Price Discontinuities In The Market For Rins, Charles F. Mason, Neil A. Wilmot
Charles F Mason
No abstract provided.
The Ghana National Economic Forum In May 2014, Another Implementation Curse?, George E. Ekeha
The Ghana National Economic Forum In May 2014, Another Implementation Curse?, George E. Ekeha
George E Ekeha
More than one year after the above consensus was developed and read to the whole world, which was subsequently followed by the full report, many are of the view that little efforts have been done to implement the consensus. In this article, I decided to choose just about five of the Senchi Consensus that in my opinion can change the country very much and place her on the international radar for reckoning when implemented with the seriousness that they deserve. It is my strongest belief that many Ghanaians and other development partners are aware of many issues raised in this …
Jumps In Natural Gas Prices: Implications For Infrastructure, Charles F. Mason, Neil A. Wilmot
Jumps In Natural Gas Prices: Implications For Infrastructure, Charles F. Mason, Neil A. Wilmot
Charles F Mason
No abstract provided.
Jump Processes In The Market For Crude Oil, Neil Wilmot, Charles Mason
Jump Processes In The Market For Crude Oil, Neil Wilmot, Charles Mason
Charles F Mason
In many commodity markets, the arrival of new information leads to unexpectedly rapid changes—or jumps—in commodity prices. Such arrivals suggest the assumption that log-return relatives are normally distributed may hold. Combined with time-varying volatility, the possibility of jumps offers a potential explanation for fat tails in oil price returns. This article investigates the potential presence of jumps and time-varying volatility in the spot price of crude oil and in futures prices. The investigation is carried out over three data frequencies (Monthly, Weekly, Daily), which allows for an investigation of temporal properties. Employing likelihood ratio tests to compare among four stochastic …
On Equilibrium In Resource Markets With Scale Economies And Stochastic Prices, Charles Mason
On Equilibrium In Resource Markets With Scale Economies And Stochastic Prices, Charles Mason
Charles F Mason
In this paper, I show the existence and the characteristics of equilibrium in a non-renewable resource market where extraction costs are non-convex and market price is subject to stochastic shocks, an empirically relevant setting. In my model firms may be motivated to hold inventories to facilitate production smoothing, which allows them to continue producing at a smooth pace at any instant when extraction ceases, e.g. when reserves are exhausted. This aspect of the model then supports a competitive equilibrium in the presence of non-convex costs. Casual empirical evidence is provided that supports the central features of my model for a …
Economic Co-Optimization Of Enhanced Oil Recovery And Carbon Sequestration, Andrew Leach, Charles Mason, Klaas Van 'T Veld
Economic Co-Optimization Of Enhanced Oil Recovery And Carbon Sequestration, Andrew Leach, Charles Mason, Klaas Van 'T Veld
Charles F Mason
In this paper, we present an economic analysis of CO2-enhanced oil recovery (EOR). This technique entails injection of CO2 into mature oil fields in a manner that reduces the oil’s viscosity, thereby enhancing the rate of extraction. As part of this process, significant quantities of CO2 remain sequestered in the reservoir. If CO2 emissions are regulated, oil producers using EOR should therefore be able to earn revenues from sequestration as well as from oil production. We develop a theoretical framework that analyzes the dynamic co-optimization of oil extraction and CO2 sequestration, through the producer’s choice of the fraction of CO2 …