{"product_id":"risk-management-in-commodity-markets-9780470694251","title":"Risk Management in Commodity Markets","description":"\u003cb\u003eBook Synopsis\u003c\/b\u003e\u003cbr\u003eThe last few years have been a watershed for the commodities, cash and derivatives industry.   New regulations and products have led to an explosion in the commodities markets, creating a new asset for investors that includes hedge funds as well as university endowments, and has resulted in substantial growth in spot derivative trading.\u003cbr\u003e\u003cbr\u003e\u003cb\u003eTrade Review\u003c\/b\u003e\u003cbr\u003e\"...the wide range of issues covered in different ways should mean there is something for everyone.\" (Supply Management, February 5th 2009)\u003cbr\u003e\u003cbr\u003e\u003cb\u003eTable of Contents\u003c\/b\u003e\u003cbr\u003ePreface.  \u003cp\u003eAbout the Editor.\u003c\/p\u003e \u003cp\u003eAbout the Contributors.\u003c\/p\u003e \u003cp\u003e\u003cb\u003e1. Structural Models of Commodity Prices (Craig Pirrong).\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e1.1 Introduction.\u003c\/p\u003e \u003cp\u003e1.2 A Commodity Taxonomy.\u003c\/p\u003e \u003cp\u003e1.3 Fundamental Models for Storable Commodities.\u003c\/p\u003e \u003cp\u003e1.4 Non-Storable Commodities.\u003c\/p\u003e \u003cp\u003e1.5 Summary.\u003c\/p\u003e \u003cp\u003e1.6 References.\u003c\/p\u003e \u003cp\u003e\u003cb\u003e2. Forward Curve Modelling in Commodity Markets (Svetlana Borovkova, Universiteit Amsterdam, and Helyette Geman).\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e2.1 Introduction.\u003c\/p\u003e \u003cp\u003e2.2 Forward Curve Models for Non-Seasonal Commodities.\u003c\/p\u003e \u003cp\u003e2.3 The Seasonal Forward Curve Model and its Extensions.\u003c\/p\u003e \u003cp\u003e2.4 Principal Component Analysis of a Forward Curve.\u003c\/p\u003e \u003cp\u003e2.5 Forward Curve Indicators.\u003c\/p\u003e \u003cp\u003e2.6 Conclusions.\u003c\/p\u003e \u003cp\u003e2.7 References.\u003c\/p\u003e \u003cp\u003e\u003cb\u003e3. Integrating Physical and Financial Risk Management in Supply\u003c\/b\u003e \u003cb\u003eManagement (Paul R. Kleindorfer).\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e3.1 Introduction.\u003c\/p\u003e \u003cp\u003e3.2 A Primer On Previous Supply Management Contracting Literature.\u003c\/p\u003e \u003cp\u003e3.3 A Moddeling Framework and a Simple Illustrative Case.\u003c\/p\u003e \u003cp\u003e3.4 Recent Contributions to the Optimal Contracting Literature.\u003c\/p\u003e \u003cp\u003e3.5 Some Open Research Questions and Implications for Practice.\u003c\/p\u003e \u003cp\u003e3.6 References.\u003c\/p\u003e \u003cp\u003e\u003cb\u003e4. The Design of New Derivative Markets (Giovanni Barone-Adesi).\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e4.1 Introduction.\u003c\/p\u003e \u003cp\u003e4.2 Determinants of Success of New Derivative Markets.\u003c\/p\u003e \u003cp\u003e4.3 Price Discovery.\u003c\/p\u003e \u003cp\u003e4.4 Trading, Clearing and Margining.\u003c\/p\u003e \u003cp\u003e4.5 Market Integrity.\u003c\/p\u003e \u003cp\u003e4.6 Market Recovery.\u003c\/p\u003e \u003cp\u003e4.7 Market Oversight.\u003c\/p\u003e \u003cp\u003e4.8 Case Studies.\u003c\/p\u003e \u003cp\u003e4.9 Conclusion.\u003c\/p\u003e \u003cp\u003e4.10 References.\u003c\/p\u003e \u003cp\u003e\u003cb\u003e5 Risk Premia of Electricity Futures: A Dynamic Equilibrium Model (Wolfgang Bühler, University of Mannheim, and Jens Müller-Merbach).\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e5.1 Introduction.\u003c\/p\u003e \u003cp\u003e5.2 The Dynamic Equilibrium Model.\u003c\/p\u003e \u003cp\u003e5.3 Comparative Statics.\u003c\/p\u003e \u003cp\u003e5.4 Empirical Study.\u003c\/p\u003e \u003cp\u003e5.5 Conclusion.\u003c\/p\u003e \u003cp\u003e5.6 References.\u003c\/p\u003e \u003cp\u003e\u003cb\u003e6. Measuring Correlation Risk for Energy Derivatives (Roza Galeeva, Jiri Hoogland and Alexander Eydeland).\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e6.1 Introduction.\u003c\/p\u003e \u003cp\u003e6.2 Correlation.\u003c\/p\u003e \u003cp\u003e6.3 Perturbing the Correlation Matrix.\u003c\/p\u003e \u003cp\u003e6.4 Correlation VaR.\u003c\/p\u003e \u003cp\u003e6.5 Some Examples.\u003c\/p\u003e \u003cp\u003e6.6 Discussion and Conclusions.\u003c\/p\u003e \u003cp\u003e6.7 References.\u003c\/p\u003e \u003cp\u003e\u003cb\u003e7. Precaution and a Dismal Theorem: Implications for Climate Policy a\u003c\/b\u003e\u003cb\u003end Climate Research (Gary W. Yohe, Wesleyan University and Richard S. J. Tol).\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e7.1 Introduction.\u003c\/p\u003e \u003cp\u003e7.2 A New Source of Concern: Weitzman’s Dismal Theorem.\u003c\/p\u003e \u003cp\u003e7.3 Implications of the \"Dismal Theorem\".\u003c\/p\u003e \u003cp\u003e7.4 Some Concluding Remarks.\u003c\/p\u003e \u003cp\u003e7.5 References.\u003c\/p\u003e \u003cp\u003e\u003cb\u003e8. Incentives for Investing in Renewables (Falbo Paolo, Felletti Daniele and Stefani Silvana).\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e8.1 Introduction and Background.\u003c\/p\u003e \u003cp\u003e8.2 Subsidies for Energy.\u003c\/p\u003e \u003cp\u003e8.3 The Model.\u003c\/p\u003e \u003cp\u003e8.4 Statistical Estimations.\u003c\/p\u003e \u003cp\u003e8.5 Risk Analysis.\u003c\/p\u003e \u003cp\u003e8.6 Conclusions.\u003c\/p\u003e \u003cp\u003e8.7 References.\u003c\/p\u003e \u003cp\u003e\u003cb\u003e9. Hedging the Risk of an Energy Futures Portfolio (Carol Alexander).\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e9.1 Mapping Portfolios to Constant Maturity Futures.\u003c\/p\u003e \u003cp\u003e9.2 The Portfolio and its Key Risk Factors.\u003c\/p\u003e \u003cp\u003e9.3 Identifying the Key Risk Factors.\u003c\/p\u003e \u003cp\u003e9.4 Hedging the Portfolio Risk.\u003c\/p\u003e \u003cp\u003e9.5 Conclusions.\u003c\/p\u003e \u003cp\u003e9.6 References.\u003c\/p\u003e \u003cp\u003e\u003cb\u003e10. Spark Spread Options when Commodity Prices are Represented as Time Changed Processes (Elisa Luciano).\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e10.1 Spark Spread Options.\u003c\/p\u003e \u003cp\u003e10.2 Time Change in a Nutshell.\u003c\/p\u003e \u003cp\u003e10.3 Time Change and Commodity Prices.\u003c\/p\u003e \u003cp\u003e10.4 An Application to PJM Electricity and NYMEX Natural Gas.\u003c\/p\u003e \u003cp\u003e10.5 Conclusions and Further Research.\u003c\/p\u003e \u003cp\u003e10.6 Appendix A: Modelling Specification in the Multivariate Case.\u003c\/p\u003e \u003cp\u003e10.7 Appendix B: Alternative Modelling Specifications in the Univariate Case.\u003c\/p\u003e \u003cp\u003e10.8 References.\u003c\/p\u003e \u003cp\u003e\u003cb\u003e11. Freight Derivatives and Risk Management: A Review (Manolis G. Kavussanos and Ilias D. Visvikis).\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e11.1 Introduction.\u003c\/p\u003e \u003cp\u003e11.2 Forward Freight Agreements.\u003c\/p\u003e \u003cp\u003e11.3 Freight Futures.\u003c\/p\u003e \u003cp\u003e11.4 \"Hybrid\" (Cleared) FFAs.\u003c\/p\u003e \u003cp\u003e11.5 Freight Options.\u003c\/p\u003e \u003cp\u003e11.6 Empirical Research on Freight Derivatives.\u003c\/p\u003e \u003cp\u003e11.7 Conclusion.\u003c\/p\u003e \u003cp\u003e11.8 References.\u003c\/p\u003e \u003cp\u003e\u003cb\u003e12. Mean-Reversion and Structural Breaks in Crude Oil, Copper, and Shipping (H. Geman and S. Ohana).\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e12.1 Introduction.\u003c\/p\u003e \u003cp\u003e12.2 Fundamentals of Copper, Crude Oil, and Shipping.\u003c\/p\u003e \u003cp\u003e12.3 Defining Mean-Reversion.\u003c\/p\u003e \u003cp\u003e12.4 Dataset and Unit Root Tests.\u003c\/p\u003e \u003cp\u003e12.5 Conclusion.\u003c\/p\u003e \u003cp\u003e12.6 References.\u003c\/p\u003e \u003cp\u003e\u003cb\u003e13. Managing Agricultural Price Risk in Developing Countries (Julie Dana and Christopher L. Gilbert).\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e13.1 The Liberalization Context.\u003c\/p\u003e \u003cp\u003e13.2 Incidence of Risk Exposure.\u003c\/p\u003e \u003cp\u003e13.3 Instruments and Problems.\u003c\/p\u003e \u003cp\u003e13.4 Price Risk Management in the Developing Country Supply Chain.\u003c\/p\u003e \u003cp\u003e13.5 Concluding Comments.\u003c\/p\u003e \u003cp\u003e13.6 References.\u003c\/p\u003e \u003cp\u003e\u003cb\u003e14. Gaining Exposure to Emerging Markets in Institutional Portfolios: The Role of Commodities (George A. Martin and Richard Spurgin).\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e14.1 Introduction.\u003c\/p\u003e \u003cp\u003e14.2 Asset Markets and Economic Growth.\u003c\/p\u003e \u003cp\u003e14.3 Are Emerging Markets Equity Markets and Commodity Markets Integrated?\u003c\/p\u003e \u003cp\u003e14.4 Implications for the Investment Policy of Institutional Investors.\u003c\/p\u003e \u003cp\u003e14.5 Conclusion.\u003c\/p\u003e \u003cp\u003e14.6 References.\u003c\/p\u003e \u003cp\u003e\u003cb\u003e15. Case Studies and Risk Management in Commodity Derivatives Trading (Hilary Till).\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e15.1 Introduction.\u003c\/p\u003e \u003cp\u003e15.2 Institutional Risk Management.\u003c\/p\u003e \u003cp\u003e15.3 Proprietary-Trading Risk Management.\u003c\/p\u003e \u003cp\u003e15.4 Hedge Fund Risk Management.\u003c\/p\u003e \u003cp\u003e15.5 Fund-of-Hedge-Funds Diversification.\u003c\/p\u003e \u003cp\u003e15.6 Market Risk Management.\u003c\/p\u003e \u003cp\u003e15.7 Conclusion.\u003c\/p\u003e \u003cp\u003e15.8 References.\u003c\/p\u003e \u003cp\u003eIndex.\u003c\/p\u003e","brand":"John Wiley \u0026 Sons Inc","offers":[{"title":"Default Title","offer_id":49402412958039,"sku":"9780470694251","price":79.8,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0817\/1739\/5799\/files\/9780470694251.jpg?v=1730480326","url":"https:\/\/bookcurl.com\/products\/risk-management-in-commodity-markets-9780470694251","provider":"Book Curl","version":"1.0","type":"link"}