A WEAK FORM EVALUATION OF THE EFFICIENCY OF THE ROTTERDAM AND ITALIAN OIL SPOT MARKETS

被引：2
|
作者：
PANAS, E
机构：
[1] The Athens School of Economics, Athens, 104 34
来源：
ENERGY ECONOMICS | 1991年 / 13卷 / 01期
关键词：
OIL PRICE; SPOT MARKETS; EFFICIENCY;
D O I：
10.1016/0140-9883(91)90052-2
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
We examine whether the efficient market hypothesis can be applied to the Rotterdam and Italian oil markets, by analysing the log price changes observed in those markets for monthly data during the period January 1980 to December 1987. The objective is to investigate the leptokurticity in observed distributions of low price changes. The stable Paretian distributions have been used to test the leptokurtic distributions. © 1991.
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页码：26 / 32
页数：7
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