Symposium 2021 Presentations

 

Keynotes

 

Session I: Economics of Energy Markets 

  • Presentation: Nikolai Roussanov, University of Pennsylvania and NBER “Why Does Oil Matter? Commuting and Aggregate Fluctuations.” 
    • Discussion: Xiaoqing Zhou, Federal Reserve Bank of Dallas
  • Presentation: Lutz Kilian, Federal Reserve Bank of Dallas & CEPR, “Understanding the Estimation of Oil Demand and Oil Supply Elasticities.”
  • Presentation: Maria Flora, Universita degli Studi di Verona, Italy, “Optimal cross-border electricity trading.” 
    • Discussion: Ehud I. Ronn, University of Texas at Austin
  • Presentation: Veronika Selezneva, CERGE-EI, Czech, “Heterogeneous oil supply elasticities: indebtedness and production response to the COVID-19 shock.” 
    • Discussion: Nida Çakır Melek, Federal Reserve Bank of Kansas City

 

Session 2 - ESG and Applicability to Commodities 

Facilitator: Kartik Ghia, Researcher - Systematic Strategies, Bloomberg LP

  1. Rodolfo Araujo, Sr Managing Director, FTI Consulting
  2. John Gavin, Integrated Portfolio Intelligence
  3. Nick Cotts, SVP, Sustainability and External Relations, Newmont Mining
  4. Lance Titus, Managing Director, Uniper Global

 

Session 3 - Trading and Price Shocks on Commodity Markets 

  • Presentation: Ke Tang,Tsinghua University, China, “Crowding and Factor Returns.”
    • Discussion: Yufeng Han, University of North Carolina at Charlotte
  • Presentation: Gi H. Kim,University of Warwick, UK, “Speculator Spreading Pressure and the Commodity Futures Risk Premium.”
    • Discussion: Xiaohui Gao Bakshi, Temple University
  • Presentation: Jian Yang, University of Colorado Denver, “Commodity Futures Volatility Spillovers: A Network Approach.” 
    • Discussion: Berna Karali, University of Georgia
  • Presentation: Alain Kabundi, World Bank, “Commodity Price Shocks: Order within Chaos?.”
    • Discussion: Gabriel J. Power, Université Laval, Canada

 

Session 4 - Market Structure on Commodity Markets 

  • Presentation: Martin Stuermer, International Monetary Fund, “A Dynamic Analysis of Collusive Action: The Case of the World Copper Market, 1882-2016.” 
    • Discussion: Margaret Slade, University of British Columbia
  • Presentation: Rodrigo Cárcamo, UNCTAD, “Do Differences in the Types of Commodities Exported Matter for Export Concentration?” 
    • Discussion: James Sayre, University of California, Berkeley.
  • Presentation: Bingxin Li, West Virginia University “Option Returns, Risk Premiums, and Demand Pressure in Energy Markets.” 
  • Presentation: Kun Peng, University of Illinois at Urbana-Champaign, “Canary in the Coal Mine: COVID-19 and Soybean Futures Market Liquidity."
    • Discussion: Julieta Frank, University of Manitoba

 

Session 5 - Are we in for another commodity super cycle? 

Facilitator: Owain Johnson, Managing Director, Global Head of Research and Product Development, CME

  1. David Fyfe, Chief Economist, Argus Media
  2. Daniel Jerrett, Co-Founder and Chief Investment Officer at Stategy Capital LP
  3. Saad Rahim, Chief Economist, Trafigura
  4. ​Greg Shearer, Global Commodities Research Analyst, J.P. Morgan

 

Session 6 - Manipulation and Risk Premia on Commodity Derivatives

  • Presentation: Dong Lou, London School of Economics and CEPR, “Relative Basis and Risk Premia in Commodity Futures Markets.”
    • Discussion: Hong Miao, Colorado State University
  • Presentation: Anthony Lee Zhang, University of Chicago, “Competition and Manipulation in Derivative Contract Markets.”
    • Discussion: Craig Pirrong, University of Houston
  • Presentation: Craig Pirrong, University of Houston, “Sheep in Wolves’ Clothing: Using False Signals of Demand to Execute a Market Power Manipulation.” 
    • Discussion: Brian Wright, University of California, Berkeley
  • Presentation: Kazuhiko Ohashi, Hitotsubashi University, “Dynamic Relation between Volatility Risk Premia of Stock and Oil Returns.”
    • Discussion: Tianyang Wang, Colorado State University

 

Poster Session

Wednesday, August 18, 2021

  • Qi Xu, Ying Wang, and Yunzhu Shi (Zhejiang University, China). “Probability Weighting and Commodity Futures Returns.”
  • An N.Q. Cao (University of Bonn, Germany) and Michel A. Robe (University of Illinois at Urbana-Champaign). “Market Uncertainty and Sentiment around USDA Announcements."
  • Michel Dubois and Loïc Maréchal (University of Neuchâtel, Switzerland). “The valuation effects of index investment in commodity futures.”
  • Lingfei Kong (University of North Carolina at Charlotte). “A trend factor in commodity futures markets: Any economic gains from using information over investment horizons?” 
  • Ipsita Saishree (Indian Institute of Technology Bombay, India).  “Exploring the Return and Volatility nexus of Equities and Commodities in Indian Market.”