دانلود مقاله لاتین با عنوان آینده نگری بازارهای نفت و طلا: آیا بازارها دارای کارایی هستند؟

اختصاصی از فایل هلپ دانلود مقاله لاتین با عنوان آینده نگری بازارهای نفت و طلا: آیا بازارها دارای کارایی هستند؟ دانلود با لینک مستقیم و پر سرعت .

a b s t r a c t

In this paper we examine the long-run relationship between gold and oil spot and futures markets. We

draw on the conceptual framework that when oil price rises, it creates inflationary pressures, which instigate

investments in gold as a hedge against inflation. We test for the long-run relationship between gold

and oil futures prices at different maturity and unravel evidence of cointegration. This implies that: (a)

investors use the gold market as a hedge against inflation and (b) the oil market can be used to predict

the gold market prices and vice versa, thus these two markets are jointly inefficient, at least for the sample

period considered in this study

Keywords:

Gold

Oil

Spot and futures markets

Inflation

Cointegration