John Parsons' Research Papers  

 
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Where Are We in the Reform of OTC Derivatives Markets
in An Unfinished Mission: Making Wall Street Work for Us,
A Report by Americans for Financial Reform & the Roosevelt Institute, November 2013
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Margins, Liquidity and the Cost of Hedging
with Antonio S. Mello
Center for Energy and Environmental Policy Research Working Paper #12-005, May 2012
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The Weak Tie Between Natural Gas and Oil Prices
with David J. Ramberg
Energy Journal, 33(2), 2012
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Do Trading and Power Operations Mix? The Case of Constellation Energy Group 2008
Journal of Energy Markets 5(1), Spring 2012.
PDF [full case PDF]

The Future of Nuclear Power After Fukushima
with Paul L. Joskow
Economics of Energy and Environmental Policy, 1(2), 2012
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A Methodology for Calculating the Levelized Cost of Electricity in Nuclear Power Systems with Fuel Recycling
with Guillaume De Roo
Energy Economics, 33(5), September 2011
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The Future of Natural Gas – an Interdisciplinary MIT Study,
Chaired by Ernest J. Moniz, Henry D. Jacoby and Anthony J. M. Meggs
April 2011
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The Future of the Nuclear Fuel Cycle – an Interdisciplinary MIT Study
Chaired by Mujid Kazimi, Ernest J. Moniz and Charles W. Forsberg
April 2011
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Stocks & Shocks: A Clarification in the Debate Over Price vs. Quantity Controls for Greenhouse Gases
with Luca Taschini
Center for Energy and Environmental Policy Research Working Paper #11-002, 2011
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Capacity Factor Risk at Nuclear Power Plants
with Yangbo Du
Center for Energy and Environmental Policy Research Working Paper #10-016, November 2010; revised January 2012.
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Electricity Network Tariff Architectures: A Comparison of Four OECD Countries
with Vivek Sakhrani
Center for Energy and Environmental Policy Research Working Paper #10-008, July 2010
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Black Gold & Fool’s Gold: Speculation in the Oil Futures Market
Economia 10(2), Spring 2010
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The Economic Future of Nuclear Power
with Paul L. Joskow
Daedalus 138(4), Fall 2009
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Update on the Cost of Nuclear Power
with Yangbo Du
Center for Energy and Environmental Policy Research Working Paper #09-004, May 2009
PDF, Model.xls

Designing a U.S. Market for CO2
with A. Denny Ellerman and Stephan Feilhauer
Journal of Applied Corporate Finance 21(1), Winter 2009
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Uncertainty in Greenhouse Emissions and Costs of Atmospheric Stabilization
with Mort Webster, Sergey Paltsev, John Reilly and Henry Jacoby
Joint Program on the Science and Policy of Global Change Report  #165, November 2008.
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Cap-and-Trade: Contributions to the Design of a U.S. Greenhouse Gas Program, Essay #2:“Cost Containment: A Primer,”
with Mort Webster, A. Denny Ellerman and Henry Jacoby
MIT Center for Energy and Environmental Policy Research, November 2008.
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Market Power and Electricity Market Reform in Northeast China
with Xiochun Zhang
Center for Energy and Environmental Policy Research Working Paper #08-001, January 2008.
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Technologies, Markets and Challenges for Development of the Canadian Oil Sands Industry
with Romain Lacombe
Center for Energy and Environmental Policy Research Working Paper #07-006, June 2007.
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Capture-Ready Coal Plants—Options, Technologies And Economics
with Mark C. Bohm, Howard J. Herzog, and Ram C. Sekar
International Journal of Greenhouse Gas Control 1, (2007): 113–120.
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Future Carbon Regulations and Current Investments in Alternative Coal-Fired Power Plant Designs
with Ram C. Sekar, Howard J. Herzog and Henry D. Jacoby
Reprinted in: Energy Policy 35, No. 2 (February 2007): 1064-1074.
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Using Futures Prices to Filter Short-term Volatility and Recover a Latent, Long-term Price Series for Oil
with Miguel Herce and Robert C. Ready
Center for Energy and Environmental Policy Research Working Paper #06-005, April 2006.
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Positions courtes, prix inter-périodes et bancalité. (English: “Shortage, Inter-period Pricing, and Banking”)
with A. Denny Ellerman
Tendances Carbone, No. 5, July 2006.
PDF in French, in English

Short Sales, Damages, and Class Certification in 10b-5 Actions
with Robert C. Apfel, G. William Schwert and Geoffrey S. Stewart
CRA Working Paper, (December 2001).
PDF

Also: NBER Working Paper No. 8618, (December 2001).
Link to Site

Hedging and Liquidity
with Antonio S. Mello
Review of Financial Studies 13, No. 1 (Spring 2000): 127–53.
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Strategic Hedging
with Antonio S. Mello
Journal of Applied Corporate Finance 12, No. 3 (Fall 1999): 43–62.
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Going Public and the Ownership Structure of the Firm
with Antonio S. Mello
Journal of Financial Economics 49 (1998)
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Reprinted in: B. Biais and M. Pagano (eds.) Corporate Finance and Banking: a Reader, Oxford: Oxford University Press (2001).

Alternative Models of Uncertain Commodity Prices for Use with Modern Asset Pricing Methods
with Malcolm P. Baker and E. Scott Mayfield
Energy Journal 19, No. 1 (January 1998).
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A Note on Bankruptcy Costs and the Theory of Oligopoly
Canadian Journal of Economics (May 1997).
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Price Behavior in Electricity Futures: the Story So Far
with A. Godlewska and A. Mello
Public Utitlities Fortnightly 135, No. 1 (January 1997): 32–35.
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Flexibility or Hedging
with A. Mello and A. Triantis
RISK 9, No. 10 (October 1996): 18–19.
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An Integrated Model of Multinational Flexibility and Financial Hedging
with A. Mello and A. Triantis
Journal of International Economics 39, Nos. 1/2 (August 1995): 27–52.
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Hedging a Flow of Commodity Deliveries with Futures: Problems with a Rolling Stack
with A. Mello
Derivatives Quarterly 1, No. 4 (Summer 1995): 16–1.
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Rolling the Dice
with A. Mello
RISK 8, No. 5 (May 1995): 49–50.
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The Maturity Structure of a Hedge Matters: Lessons from the Metallgesellschaft Debacle
with A. Mello
Journal of Applied Corporate Finance 8, No. 1 (Spring 1995): 106–120
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Reprinted in: R. Schwartz and C. Smith (eds.), Derivatives Handbook: Risk Management and Control, New York: John Wiley (1997)
and in: C. Culp and M. Miller (eds.) Corporate Hedging in Theory and Practice, London: RISK Books (1999).

Measuring the Agency Cost of Debt
with A. Mello
Journal of Finance 47 (1992).
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The Design of Optimal Production Sharing Rules in a Petroleum Exploration Venture
with P. Hampson and C. Blitzer
Journal of Financial Economics 30 (1991).
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The Efficient Design of Contracts to Purchase Cogenerated Power
with E. Hall
Energy Journal 11, No. 2 (April 1990).
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Commentary to “Implicit Options in Forward Contracts: Empirical Estimates from the Petroleum Market.”
Review of Futures Markets
, 9, 15-18 (1990).
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Estimating the Strategic Value of Long-Term Forward Purchase Contracts Using Auction Models
Journal of Finance 4, No. 4 (September 1989).
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The Riddle of the Limited Liability Corporation
In D. Lucina and A. Mello (eds.), Privatization: Economic Policy Essays. Lisbon: Verbo (1989).
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Underpricing of Seasoned Issues
with A. Raviv
Journal of Financial Economics 14, No. 3 (1985).
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