This study tests causal hypotheses emanating from theories of futures markets by utilizing methods appropriate for disproving causal relationships with observational data. The hedging pressure theory of futures markets risk premiums, the generalized version of the normal backwardation theory of Keyn
Undated futures markets
โ Scribed by Adam K. Gehr Jr.
- Publisher
- John Wiley and Sons
- Year
- 1988
- Tongue
- English
- Weight
- 648 KB
- Volume
- 8
- Category
- Article
- ISSN
- 0270-7314
No coin nor oath required. For personal study only.
โฆ Synopsis
his article discusses the mechanics, economics, advantages, and disadvan-*The author would like to thank Fredrick Chin Tan for calling this subject to his attention and two anonymous reviewers of this journal for their helpful comments.
'The information about the Chinese Gold and Silver Exchange Society in this paper was gleaned from "A Survey of the Hong Kong Gold Market" by Sun Hing Kai Securities Ltd. March 1981. A briefer, albeit livelier, account of the market can be found in Green (1981).
๐ SIMILAR VOLUMES
## Abstract Trading amongst dealers on the floor of the futures exchange is examined. Since there is only one trading venue, the common floor area, trading between dealers is carried on in the presence of trades involving customer orders as well, offering a unique setting for testing the effect of