Mohsen Mehrara, Monire Hamldar, Optimal Hedge Ratio for Brent Oil Market; Baysian Approach, Volume 37, International Letters of Social and Humanistic Sciences (Volume 37)
    This paper examines the optimal hedging ratio (OHR) for the Brent Crude Oil Futures using daily data over the period 1990/17/8-2014/11/3. To gain OHR, it is employed a Vector Autoregressive (VAR) and Vector Error Correction (VEC) and Baysian Vector Autoregressive (BVAR) models. At last, the efficiency of these calculated OHR are compared through Edrington's index.
    BVAR, Edrington's Efficiency Index, OHR, Optimal Hedging Ratio, VAR, VECM