BEGIN:VCALENDAR
VERSION:2.0
PRODID:-//Memento EPFL//
BEGIN:VEVENT
SUMMARY:Speculative Floating Oil
DTSTART:20171201T103000
DTEND:20171201T120000
DTSTAMP:20260406T211402Z
UID:84ce187688b6b6f7b26b70555c3ccc5a882ac91036a670026b190d8a
CATEGORIES:Conferences - Seminars
DESCRIPTION:Andrei KIRILENKO (Imperial College London)\nWe introduce commo
 dity cash-and-carry traders into a limits to arbitrage extension to the sp
 eculative storage framework. Carry traders are assumed to have access to a
  market for off-shore storage technology — shipping vessels that can be 
 chartered to store physical commodity bought in one period for delivery in
  the next period. We show that in equilibrium arbitrage activities of cash
 -and-carry traders are linked with the risk premium in commodity prices an
 d the cost of floating storage. We test empirical predictions of the model
  using a novel data set with granular information on every tanker that del
 ivered seaborne crude oil into the United States during 2008-2012. Our emp
 irical results are consistent with the predictions of the model and are ve
 ry strongly present in the data.
LOCATION:UNIL\, Extranef\, room 126 https://planete.unil.ch/plan/?local=EX
 T-126
STATUS:CONFIRMED
END:VEVENT
END:VCALENDAR