Liu, B. and Geman, Hélyette (2017) World coal markets: still weakly integrated and moving east. Journal of Commodity Markets 5 , pp. 63-76. ISSN 2405-8513.
|
Text
18925.pdf - Author's Accepted Manuscript Download (517kB) | Preview |
Abstract
In December 2016, the prominent New York Mercantile Exchange CAPP coal future contract was delisted by the CME, owner of the NYMEX. At that time, all four giant US coal miners were under the protection of Chapter 11. These events illustrate the collapse of coal consumption in the US and the loss of relevance of the Appalachian coal index whose futures were used as a hedging instrument across the world. Our goal in this paper is to revisit the problem of integration of coal markets and to exhibit through multiple perspectives, including a lead/lag analysis of pairs of major indexes, that the world coal market is moving East.
Metadata
| Item Type: | Article |
|---|---|
| Keyword(s) / Subject(s): | Coal indexes, Cointegration, Lead and lag analysis, US miners' equities |
| School: | Birkbeck Faculties and Schools > Faculty of Business and Law > Birkbeck Business School |
| Depositing User: | Administrator |
| Date Deposited: | 29 Jun 2017 10:53 |
| Last Modified: | 02 Aug 2023 17:33 |
| URI: | https://eprints.bbk.ac.uk/id/eprint/18925 |
Statistics
Additional statistics are available via IRStats2.
Archive Staff Only (login required)
