Reducing the impacts of energy price volatility through dynamic portfolio selection.

From: The Energy Journal | Date: July 1, 1998| Author: | Copyright information

A study was conducted to show how the energy mix consumed in the US could be determined given a national goal to minimize risks associated with the domestic macroeconomy of unanticipated energy price shocks. A financial portfolio framework was used to determine the impact of energy price volatility. The empirical relationship between oil prices and real output was also considered in the study. Results indicated a shift towards coal consumption would minimize price volatility in energy consumption.

INTRODUCTION

Investors have long sought to reduce their exposure to market ups and downs by ...

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