International Symposium on Finance and Energy Issues
(ISEFI-2013)

As liberalization advances and new environmental and energy markets grow and develop, the interaction between energy and finance is becoming of crucial importance. For instance, in the deregulated electricity and gas markets risk management is highly complex and challenging. This phenomenon is amplified by the trading opportunities in carbon markets. More generally, energy commodities are becoming closer to financial commodities. In this context, effective market supervision and monitoring competencies will need to be developed by the regulatory institutions.

This conference, jointly organized by ECONOMIX-UNIVERSITE PARIS OUEST NANTERRE LA DEFENSE and CNRS, and IPAG BUSINESS SCHOOL, will shed lights on these issues, by bringing together researchers in economics, finance and econometrics.

Compulsory registration before February 25th: jocelyne.barre@u-paris10.fr - No inscription fee.

SCIENTIFIC PROGRAM

09:00am - 09:15am Opening and Welcome Note

09:15am – 10:30am Invited Session

Session Chair: Anna Creti, University Of Paris West Nanterre La Défense & Ecole Polytechnique
Probabilistic electricity outlooks René Aid, FIME - University Paris Dauphine & EdF
Nonlinear Modelling of Power Price Risk Derek Bunn, London Business School
Assets value and power prices Alberto Ponti, Head of Research - Société Générale

10:30am – 11:00am Coffee Break

11:00am – 12:30am Session "Oil and Financial Markets"

Session Chair: Valérie Mignon, University Of Paris West Nanterre La Défense

11:00am – 11:30am Heterogeneous beliefs, regret and uncertainty: The role of speculation in energy price
dynamics
Marc Joets, EconomiX – University of Paris West Nanterre La Défense

11:30am – 12:00am Does the SP500 index mirror the crude oil dynamics? A complexity-based approach
Catherine Kyrtsou, University of Macedonia, University of Strasbourg, University of Paris West Nanterre
La Défense, and ISC Paris
Christina Mikropoulou, University of Macedonia
Angeliki Papana, University of Macedonia

12:00am – 12:30am Oil price impact on the financial markets: exporter country versus importer country
Anna Creti, University Of Paris West Nanterre La Défense & Ecole Polytechnique
Zied Ftiti, University of Tunis
Khaled Guesmi, IPAG Business School & University of Paris West Nanterre La Défense

12:30am – 14:00pm Lunch

14:00pm – 15:30pm Session "Electricity and gas markets"

Session Chair: Duc Khuong Nguyen, IPAG Business School

14:00pm – 14:30pm Hold-up problems in international electricity trade
Liam Wren-Lewis, Paris School of Economics

14:30pm – 15:00pm Temperature shocks and natural gas trading
Alan O’Brien, University of Limerick
John Garvey, University of Limerick
Judah Cohen, Atmospheric and Environmental Research (AER)

15:00pm – 15:30pm Measuring risk in electricity forward returns
Jörg Laitenberger, Martin Luther University Halle-Wittenberg
Christian Lau, Martin Luther University Halle-Wittenberg

15:30pm – 16:00pm Coffee Break

16:00pm – 17:30pm Session "Carbon market"

Session Chair: Julien Chevalier, University of Paris 8

16:00pm – 16:30pm Evidence of a nonlinear effect of the EU ETS on the electricity-generation sector
Ibrahim Ahamada, University of Paris 1
Djamel Kirat, Paris School of Economics & University of Paris 1

16:30pm – 17:00pm Supply versus demand determinants of EUAs prices
Maria Mansanet Bataller, University of Valencia
Maria Eugenia Sanin, University of Montpellier 1 & Ecole Polytechnique

17:00pm – 17:30pm Market efficiency in the European carbon markets
Amélie Charles, Audencia Nantes, School of Management
Olivier Darné, University of Nantes
Jessica Fouilloux, University of Rennes 1

17:30pm – 18:00pm Coffee Break

18:00pm – 19:00pm Session "Energy Issues in Emerging Markets"

Session Co-Chairs: Frédéric Teulon, IPAG Business School and Khaled Guesmi, IPAG Business School & University of Paris West Nanterre La Défense

18:00pm – 18:30pm Measuring contagion effect between energy and stock markets in MENA using copulas
Heni Boubakera, University of the Mediterranean
Nadia Sghaier, IPAG Business School

18:30pm – 19:00pm Climate change, hydro-dependency and the African Dam Boom
Matthew A. Cole, University of Birmingham
Robert J.R. Elliott, University of Birmingham
Eric Strobl, Ecole Polytechnique & IPAG Business School

19:00pm – 19:10pm Closing Note