We encourage all interested stakeholders to participate in the next research seminar hosted at the National Bank of Ukraine on 4 December 2015 from 10.00 a.m. to 11:30 a.m. Mr Andrei Kirilenko, Professor of Finance at the Imperial College Business School (UK) and Former Professor of the Practice of Finance at the MIT Sloan School of Management (USA), will share the findings of his "Speculative Oil” research into commodity markets.
In his research, the economist estimates a model for speculative storage of crude oil on floating vessels. He derives the floating storage component from granular data on all shipments of seaborne crude oil imported into the United States from 2008 to 2012. As predicted by his theory, floating speculative storage is positively related to the slope of Brent futures prices and negatively related to the costs of renting vessels for use as floating storage. These findings suggest that canonical commodity storage models need to account for mobile storage when deriving an equilibrium relationship between supply, demand, prices, and inventories.
The working language of the seminar will be English.
In order to participate in the seminar, all interested stakeholders must submit an application that indicates the surname and first name of the applicant, place of employment, and contact information (telephone, e-mail) by 2:00 p.m. on 3 December 2015 via e-mail to [email protected]. Given the limited seats available, the NBU reserves the right to accept or reject applications. The NBU will inform each applicant as to acceptance or rejection of an application by the end of the day on 3 December 2015.
Seminar venue: room 206, at 9, Instytutska St., Kyiv. The venue can be accessed via the central entrance. All participants are required to have a passport or other photo ID document. Registration of participants will take place from 9:30 a.m. to 9.55 a.m.
The NBU launched a series of research seminars last summer. During these seminars, representatives from the academic and expert community, international financial institutions, other central banks, and the NBU offer the opportunity to share their research findings and discuss them within a narrow circle of experts. With the aim of arranging further research seminars, we encourage potential contributors to collaborate with us and present the findings of their research studies on issues related to the activities of the NBU and financial system operations. Please send proposals (with an indication of a suitable date for the seminar, and attached presentation materials, an executive summary and/or draft contributions) to the NBU Research Division of the Monetary Policy and Economic Analysis Department for consideration via e-mail at the following addresses: [email protected] or [email protected]