ADB Economics Working Paper Series No. 275
Trends, Persistence, and Volatilityin Energy Markets
Atanu Ghoshray is Senior Lecturer in Economics at the University of Bath. The author would like to thankMaria Socorro Gochoco-Bautista, Shikha Jha, and Emmanuel San Andres for insightful comments on anearlier version of the draft, and Pilipinas Quising for providing the data. The author accepts responsibilityfor any errors in the paper.