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:: Volume 16, Issue 48 (Winter 2009) ::
qjerp 2009, 16(48): 21-36 Back to browse issues page
The Relationship between Trading Volumes and the Variations in Crude Oil Prices in Registered Exchanges Using Vector Error Correction Model (VECM)
Atefeh Taklif *
Abstract:   (13208 Views)
The high price volatility in the market indicates the severity of price variations hence making the price forecasting a more challenging issue. This is due to the fact that higher price volatility in a market means higher uncertainties and an increased level of risk in that market. Upon the analysis of volatile behavior of crude oil prices during different periods over 1987 to 2008, this paper attempts to arrive at the causal relationship between the variations in crude oil prices and trading volumes in crude oil exchanges using the VECM model. The results show that the direction of causality is from the price variations to volumes traded.
Keywords: Crude Oil Price Volatility, Trading Volumes in Oil Exchanges
     
Type of Study: Research | Subject: General
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Taklif A. The Relationship between Trading Volumes and the Variations in Crude Oil Prices in Registered Exchanges Using Vector Error Correction Model (VECM). qjerp 2009; 16 (48) :21-36
URL: http://qjerp.ir/article-1-315-en.html


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Volume 16, Issue 48 (Winter 2009) Back to browse issues page
فصلنامه پژوهشها و سیاستهای اقتصادی Journal of Economic Research and Policies
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