The Impact of Introduction of Forward Freight Agreement on Spot Market

被引：0
|
作者：
Gong, Xiaoxing [1 ]
Lu, Jing [1 ]
机构：
[1] Dalian Maritime Univ, Transportat Management Coll, Dalian, Peoples R China
来源：
IEEE/SOLI'2008: PROCEEDINGS OF 2008 IEEE INTERNATIONAL CONFERENCE ON SERVICE OPERATIONS AND LOGISTICS, AND INFORMATICS, VOLS 1 AND 2 | 2008年
关键词：
Tanker FFA; Economic Indices; Volatility;
D O I：
10.1109/SOLI.2008.4682929
中图分类号：
TM [电工技术]; TN [电子技术、通信技术];
学科分类号：
0808 ; 0809 ;
摘要：
Purpose of this paper is to investigate the impact of introduction of tanker FFA (Forward Freight Agreements) on spot rates, choosing three routes (TD3, TD5 and TD7). This paper. applies the Stochastic Volatility (SV) models which consider the factors both Forward Freight Agreements and other economic indices. The parameters of SV models are estimated via the software package BUGS (Bayesian inference using Gibbs Sampling). According to analyze the economic insignificant of parameter in the models, and get the conclusion that there is some impact, introduction of tanker Forward Freight Agreements increasing the volatility of spot rates.
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页码：2352 / 2356
页数：5
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