In this study, we examine whether the key findings in Tang and Xiong (2012) hold in the
more recent sample years after their publication. We also explore the impact of …

The participation of financial actors is a key design issue in all emissions allowance markets.
Although financials perform several necessary market functions, excessive speculation may …

Financial markets have a central role in allocating resources in modern economies. One of
the main functions of financial markets is the discovery of information. This information in …

This paper employed wavelet coherence and partial wavelet coherence to investigate the
time‐frequency effect of global economic policy uncertainty on the comovement of five …

This paper reviews the more recent literature addressing different facets of speculation in
commodity markets, including the role of speculators and the impact that financialization in …

We develop a benchmark model to study the equilibrium consequences of indexing in a
standard rational expectations setting. Individuals incur costs to participate in financial …

We empirically examine the effects of index investing using predictions derived from a
Grossman-Stiglitz framework. An exogenous increase in index investing leads to lower …

More than 12 years after the historical oil price spike, the financialization of commodities and
the interaction among different types of commodity investors remain a hot topic. We review …

We use a Markov-switching vector autoregressive model to examine the impact of financial
stress on the volatility of commodity prices, including energy volatility. An increase in …

Scholars seek to understand the role of agents in physical commodity trading as vehicles of
information. COVID-19 provides an opportunity to examine whether energy markets are …