News Column

Findings on Energy Policy Reported by E. Mamatzakis et al

May 30, 2014



By a News Reporter-Staff News Editor at Energy Weekly News -- Researchers detail new data in Energy Policy. According to news reporting originating from Athens, Greece, by VerticalNews correspondents, research stated, "This paper examines the rationality of the price forecasts for energy commodities of the United States Department of Energy's (DOE), departing from the common assumption in the literature that DOE's forecasts are based on a symmetric underlying loss function with respect to positive vs. negative forecast errors."

Our news editors obtained a quote from the research, "Instead, we opt for the methodology of Elliott et al. (2005) that allows testing the joint hypothesis of an asymmetric loss function and rationality and reveals the underlying preferences of the forecaster. Results indicate the existence of asymmetries in the shape of the loss function for most energy categories with preferences leaning towards optimism."

According to the news editors, the research concluded: "Moreover, we also examine whether there is a structural break in those preferences over the examined period, 1997-2012."

For more information on this research see: Testing the rationality of DOE's energy price forecasts under asymmetric loss preferences. Energy Policy, 2014;68():567-575. Energy Policy can be contacted at: Elsevier Sci Ltd, The Boulevard, Langford Lane, Kidlington, Oxford OX5 1GB, Oxon, England. (Elsevier - www.elsevier.com; Energy Policy - www.elsevier.com/wps/product/cws_home/30414)

The news editors report that additional information may be obtained by contacting E. Mamatzakis, Bank Greece, Special Studies Div, Econ Res Department, GR-10250 Athens, Greece.

Keywords for this news article include: Athens, Greece, Europe, Energy Price, Energy Policy

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Source: Energy Weekly News


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