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The rapid advancement in encryption and network computing gave
birth to new tools and products that have influenced the local and
global economy alike. One recent and notable example is the
emergence of virtual currencies, also known as cryptocurrencies or
digital currencies. Virtual currencies, such as Bitcoin, introduced
a fundamental transformation that affected the way goods, services,
and assets are exchanged. Virtual currencies are experiencing an
increasing popularity in the financial markets and in portfolio
management as can be classified as financial asset or commodities
on a scale from pure medium of exchange advantages to pure store of
value advantages. As a result of its distributed ledgers based on
blockchain, cryptocurrencies offer some unique advantages to the
economy, investors, and consumers, but also pose considerable risks
to users and challenges for regulators when fitting the new
technology into the old legal framework. Bitcoin for example may be
useful in risk management and ideal for risk-averse investors in
anticipation of negative shocks to the market. The core objective
of this proposed book is to provide a comprehensive discussion on
the important issues related to cryptocurrencies ranging from
pricing, financial, legal to technological aspects.
This book provides an up-to-date series of advanced chapters on
applied financial econometric techniques pertaining the various
fields of commodities finance, mathematics & stochastics,
international macroeconomics and financial econometrics.
International Financial Markets: Volume I provides a key repository
on the current state of knowledge, the latest debates and recent
literature on international financial markets. Against the
background of the "financialization of commodities" since the 2008
sub-primes crisis, section one contains recent contributions on
commodity and financial markets, pushing the frontiers of applied
econometrics techniques. The second section is devoted to exchange
rate and current account dynamics in an environment characterized
by large global imbalances. Part three examines the latest research
in the field of meta-analysis in economics and finance. This book
will be useful to students and researchers in applied econometrics;
academics and students seeking convenient access to an unfamiliar
area. It will also be of great interest established researchers
seeking a single repository on the current state of knowledge,
current debates and relevant literature.
This book provides an up-to-date series of advanced chapters on
applied financial econometric techniques pertaining the various
fields of commodities finance, mathematics & stochastics,
international macroeconomics and financial econometrics. Financial
Mathematics, Volatility and Covariance Modelling: Volume 2 provides
a key repository on the current state of knowledge, the latest
debates and recent literature on financial mathematics, volatility
and covariance modelling. The first section is devoted to
mathematical finance, stochastic modelling and control
optimization. Chapters explore the recent financial crisis, the
increase of uncertainty and volatility, and propose an alternative
approach to deal with these issues. The second section covers
financial volatility and covariance modelling and explores
proposals for dealing with recent developments in financial
econometrics This book will be useful to students and researchers
in applied econometrics; academics and students seeking convenient
access to an unfamiliar area. It will also be of great interest
established researchers seeking a single repository on the current
state of knowledge, current debates and relevant literature.
This book provides an up-to-date series of advanced chapters on
applied financial econometric techniques pertaining the various
fields of commodities finance, mathematics & stochastics,
international macroeconomics and financial econometrics. Financial
Mathematics, Volatility and Covariance Modelling: Volume 2 provides
a key repository on the current state of knowledge, the latest
debates and recent literature on financial mathematics, volatility
and covariance modelling. The first section is devoted to
mathematical finance, stochastic modelling and control
optimization. Chapters explore the recent financial crisis, the
increase of uncertainty and volatility, and propose an alternative
approach to deal with these issues. The second section covers
financial volatility and covariance modelling and explores
proposals for dealing with recent developments in financial
econometrics This book will be useful to students and researchers
in applied econometrics; academics and students seeking convenient
access to an unfamiliar area. It will also be of great interest
established researchers seeking a single repository on the current
state of knowledge, current debates and relevant literature.
This book presents research related to energy and environmental
technologies in the context of market liberalization and global
warming. It focuses on the development and efficient use of
alternative energy sources, implementation of sustainable energy
policies, power generation, and energy finance. Advances in
Managing Energy and Climate Risks provides readers with the
necessary information to use energy sources more efficiently,
discover cleaner energy sources and their applications, and urge
consumers and producers to make changes to reach a carbon-neutral
economy through financial, technological, regulatory and tax
incentives.
The link between commodities prices and the business cycle,
including variables such as real GDP, industrial production,
unemployment, inflation, and market uncertainty, has often been
debated in the macroeconomic literature. To quantify the impact of
commodities on the economy, one can distinguish different modeling
approaches. First, commodities can be represented as the pinnacle
of cross-sectional financial asset prices. Second, price
fluctuations due to seasonal variations, dramatic market changes,
political and regulatory decisions, or technological shocks may
adversely impact producers who use commodities as input. This
latter effect creates the so-called 'commodities risk'.
Additionally, commodities price fluctuations may spread to other
sectors in the economy, via contagion effects. Besides, stronger
investor interest in commodities may create closer integration with
conventional asset markets; as a result, the financialization
process also enhances the correlation between commodity markets and
financial markets.Our objective in this book, Risk Factors and
Contagion in Commodity Markets and Stocks Markets, lies in
answering the following research questions: What are the
interactions between commodities and stock market sentiment? Do
some of these markets move together overtime? Did the
financialization in energy commodities occur after the 2008 Global
Financial Crisis? These questions are essential to understand
whether commodities are driven only by their fundamentals, or
whether there is also a systemic component influenced by the
volatility present within the stock markets.
This book describes how the rapid advancement in encryption and
network computing gave birth to new tools and products that have
influenced the local and global economy alike. One recent and
notable example is the emergence of virtual currencies (such as
Bitcoin) also known as cryptocurrencies. Virtual currencies
introduced a fundamental transformation that affected the way
goods, services and assets are exchanged. As a result of its
distributed ledgers based on blockchain, cryptocurrencies not only
offer some unique advantages to the economy, investors, and
consumers, but also pose considerable risks to users and challenges
for regulators when fitting the new technology into the old legal
framework. The core of this proposed book is to present and discuss
the evidence on financial asset capabilities of virtual currencies.
The contributors of this volume analyze several interesting and
timely issues such as the particularities of virtual currencies and
their statistical characteristics; the diversification benefits of
virtual currencies; the behavior and dependence structure between
virtual currencies and the financial markets; the economic
implications of virtual currencies, their effects, their price
risk, and contagion spillovers in a unified and comprehensive
framework; the future of virtual currencies and their distributed
ledgers technology.
This book presents research related to energy and environmental
technologies in the context of market liberalization and global
warming. It focuses on the development and efficient use of
alternative energy sources, implementation of sustainable energy
policies, power generation, and energy finance. Advances in
Managing Energy and Climate Risks provides readers with the
necessary information to use energy sources more efficiently,
discover cleaner energy sources and their applications, and urge
consumers and producers to make changes to reach a carbon-neutral
economy through financial, technological, regulatory and tax
incentives.
This book provides an up-to-date series of advanced chapters on
applied financial econometric techniques pertaining the various
fields of commodities finance, mathematics & stochastics,
international macroeconomics and financial econometrics.
International Financial Markets: Volume I provides a key repository
on the current state of knowledge, the latest debates and recent
literature on international financial markets. Against the
background of the "financialization of commodities" since the 2008
sub-primes crisis, section one contains recent contributions on
commodity and financial markets, pushing the frontiers of applied
econometrics techniques. The second section is devoted to exchange
rate and current account dynamics in an environment characterized
by large global imbalances. Part three examines the latest research
in the field of meta-analysis in economics and finance. This book
will be useful to students and researchers in applied econometrics;
academics and students seeking convenient access to an unfamiliar
area. It will also be of great interest established researchers
seeking a single repository on the current state of knowledge,
current debates and relevant literature.
This book analyses the impact of the COVID-19 pandemic in different
areas of Finance emphasizing the contagion effect in capital
markets. The volume presents evidence-based case studies from the
global financial crisis that followed after the onset of the
pandemic in March 2020.
Modeling the dynamics of energy markets has become a challenging
task. The intensification of their financialization since 2004 had
made them more complex but also more integrated with other tradable
asset classes. More importantly, their large and frequent
fluctuations in terms of both prices and volatility, particularly
in the aftermath of the global financial crisis 2008-2009, posit
difficulties for modeling and forecasting energy price behavior and
are primary sources of concerns for macroeconomic stability and
general economic performance.This handbook aims to advance the
debate on the theories and practices of quantitative energy finance
while shedding light on innovative results and technical methods
applied to energy markets. Its primary focus is on the recent
development and applications of mathematical and quantitative
approaches for a better understanding of the stochastic processes
that drive energy market movements. The handbook is designed for
not only graduate students and researchers but also practitioners
and policymakers.
This book describes how the rapid advancement in encryption and
network computing gave birth to new tools and products that have
influenced the local and global economy alike. One recent and
notable example is the emergence of virtual currencies (such as
Bitcoin) also known as cryptocurrencies. Virtual currencies
introduced a fundamental transformation that affected the way
goods, services and assets are exchanged. As a result of its
distributed ledgers based on blockchain, cryptocurrencies not only
offer some unique advantages to the economy, investors, and
consumers, but also pose considerable risks to users and challenges
for regulators when fitting the new technology into the old legal
framework. The core of this proposed book is to present and discuss
the evidence on financial asset capabilities of virtual currencies.
The contributors of this volume analyze several interesting and
timely issues such as the particularities of virtual currencies and
their statistical characteristics; the diversification benefits of
virtual currencies; the behavior and dependence structure between
virtual currencies and the financial markets; the economic
implications of virtual currencies, their effects, their price
risk, and contagion spillovers in a unified and comprehensive
framework; the future of virtual currencies and their distributed
ledgers technology.
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