EconPapers    
Economics at your fingertips  
 

An empirical investigation of spot prices in tanker market using dynamic multiple regression models

Evangelos Xideas and Nikolaos D. Geomelos

International Journal of Decision Sciences, Risk and Management, 2011, vol. 3, issue 3/4, 238-259

Abstract: The aim of this paper is to investigate spot prices of tanker market following an extensive empirical analysis using dynamic multiple regressions models via autoregressive distributed lags (ADL). These models constitute the most widely used pattern for empirical analysis since they are more suitable to ceteris paribus analysis offering much more flexibility in the formation of general functional form relationships. Also, they can be used to build better predicting models in order to support policy makers' decisions. This paper focuses in an extensive testing of stationarity and time trend issues in order to overcome the problem of spurious regression. The estimated models have been also used to generate ex-post and ex-ante forecasts in order to evaluate both econometric specification and predicting accuracy of dynamic multiple regression models. Results reveal that spot prices of each ship type market are affected by different sets of independent variables and the estimated models generate quite accurate predictions.

Keywords: empirical analysis; multiple regression models; autoregressive distributed lags; ADL; tanker spot prices; econometric modelling; stationarity; ex-post forecasting; ex-ante forecasting; tanker market; tankers. (search for similar items in EconPapers)
Date: 2011
References: Add references at CitEc
Citations View citations in EconPapers (1) Track citations by RSS feed

Downloads: (external link)
http://www.inderscience.com/link.php?id=46153 (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ids:ijdsrm:v:3:y:2011:i:3/4:p:238-259

Access Statistics for this article

More articles in International Journal of Decision Sciences, Risk and Management from Inderscience Enterprises Ltd
Bibliographic data for series maintained by Carmel O'Grady ().

 
Page updated 2018-05-21
Handle: RePEc:ids:ijdsrm:v:3:y:2011:i:3/4:p:238-259