The Long-term Behavior of Commodity Prices
Author | : Pier Giorgio Ardeni |
Publisher | : World Bank Publications |
Total Pages | : 60 |
Release | : 1990 |
Genre | : Commodity futures |
ISBN | : |
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Author | : Pier Giorgio Ardeni |
Publisher | : World Bank Publications |
Total Pages | : 60 |
Release | : 1990 |
Genre | : Commodity futures |
ISBN | : |
Author | : Craig Pirrong |
Publisher | : Cambridge University Press |
Total Pages | : 239 |
Release | : 2011-10-31 |
Genre | : Business & Economics |
ISBN | : 1139501976 |
Commodities have become an important component of many investors' portfolios and the focus of much political controversy over the past decade. This book utilizes structural models to provide a better understanding of how commodities' prices behave and what drives them. It exploits differences across commodities and examines a variety of predictions of the models to identify where they work and where they fail. The findings of the analysis are useful to scholars, traders and policy makers who want to better understand often puzzling - and extreme - movements in the prices of commodities from aluminium to oil to soybeans to zinc.
Author | : Blake C. Clayton |
Publisher | : Cambridge University Press |
Total Pages | : 215 |
Release | : 2016 |
Genre | : Business & Economics |
ISBN | : 1107042518 |
This book provides a clear-eyed analysis of questions at the intersection of commodity markets, natural resource economics, and public policy.
Author | : B.R. Munier |
Publisher | : IOS Press |
Total Pages | : 256 |
Release | : 2012-04-24 |
Genre | : Business & Economics |
ISBN | : 1614990379 |
The recent global financial crisis exposed the serious limitations of existing economic and financial models. Not only did macro models fail to predict the crisis, they seemed incapable of explaining what was happening to the economy. Policymakers felt abandoned by the conventional tools of the now obsolete Washington consensus and the World Trade Organization’s oversimplified faith in free markets.The traditional models for agricultural commodities have so far failed to take into account the uncertain character of the global agricultural economy and its ferocious consequences in food price volatility, the worst in 300 years, yielding hunger riots throughout the world. This book explores the elements which could help to close this fundamental modeling gap. To what extent should traditional models be questioned regarding agricultural commodities? Are prices on these markets foreseeable? Can their evolution be either predicted or convincingly simulated, and if so, by which methods and models? Presenting contributions from acknowledged experts from several countries and backgrounds – professors at major international universities or researchers within specialized international organizations – the book concentrates on four issues: the role of expectations and capacity of prediction; policy issues related to development strategies and food security; the role of hoarding and speculation and finally, global modeling methods. The book offers a renewed wisdom on some of the core issues in the world economy today and puts forward important innovations in analyzing these core issues, among which the modular modeling design, the Momagri model being a seminal example of it. Reading this book should inspire fruitful revisions in policy-making to improve the welfare of populations worldwide.
Author | : Frank J. Fabozzi |
Publisher | : John Wiley & Sons |
Total Pages | : 986 |
Release | : 2008-06-02 |
Genre | : Business & Economics |
ISBN | : 0470293209 |
Filled with a comprehensive collection of information from experts in the commodity investment industry, this detailed guide shows readers how to successfully incorporate commodities into their portfolios. Created with both the professional and individual investor in mind, The Handbook of Commodity Investments covers a wide range of issues, including the risk and return of commodities, diversification benefits, risk management, macroeconomic determinants of commodity investments, and commodity trading advisors. Starting with the basics of commodity investments and moving to more complex topics, such as performance measurement, asset pricing, and value at risk, The Handbook of Commodity Investments is a reliable resource for anyone who needs to understand this dynamic market.
Author | : International Monetary Fund |
Publisher | : International Monetary Fund |
Total Pages | : 46 |
Release | : 1988-10-03 |
Genre | : Business & Economics |
ISBN | : 1451953089 |
Commodity prices may be a leading indicator of inflation, because of the relative importance of flexible auction markets for the determination of these prices. Empirical tests using data for the large industrial countries as a group suggest that changes in commodity prices tend to lead those in consumer prices, and that the inclusion of commodity prices significantly improves the fit of regressions of a multi-country consumer price index. However, there does not appear to be a reliable long-run relationship between the level of commodity prices and the level of consumer prices.
Author | : Mr.Robert P. Flood |
Publisher | : International Monetary Fund |
Total Pages | : 122 |
Release | : 2002-07-11 |
Genre | : Business & Economics |
ISBN | : 9781589061194 |
This paper explores sources of the output collapse in Russia during transition. A modified growth-accounting framework is developed that takes into account changes in factor utilization that are typical of the transition process. The results indicate that declines in factor inputs and productivity were both important determinants of the output fall. The paper analyzes the behavior of real commodity prices over the 1862–1999 progress. It also examines whether average stocks of health and education are converging across countries, and calculates the speed of their convergence using data from 84 countries for 1970–90.
Author | : Mr.Rabah Arezki |
Publisher | : International Monetary Fund |
Total Pages | : 23 |
Release | : 2011-12-01 |
Genre | : Business & Economics |
ISBN | : 1463925964 |
This paper studies the volatility of commodity prices on the basis of a large dataset of monthly prices observed in international trade data from the United States over the period 2002 to 2011. The conventional wisdom in academia and policy circles is that primary commodity prices are more volatile than those of manufactured products, even though most of the existing evidence does not actually attempt to measure the volatility of prices of individual goods or commodities. Rather the literature tends to focus on trends in the evolution and volatility of ratios of price indexes composed of multiple commodities and products. This approach can be misleading. Indeed, the evidence presented in this paper suggests that on average prices of individual primary commodities may be less volatile than those of individual manufactured goods.
Author | : Javier León |
Publisher | : World Bank Publications |
Total Pages | : 36 |
Release | : 1995 |
Genre | : Commodity control |
ISBN | : |
Author | : Centre for Economic Policy Research |
Publisher | : CEPR |
Total Pages | : 350 |
Release | : 2010-11-15 |
Genre | : Business & Economics |
ISBN | : 1907142134 |
The impact of price developments on world food markets on poor households in developing countries is an important policy question. Who gains and who loses from agricultural commodity price changes depends on the specific circumstances of households, and, at the level of nations, on the structure of production and trade. The contributions to this volume review trends in international prices and trade patterns of key food commodities, and assess the incidence of food price changes in a number of developing countries using household level data on sources of incomes and consumption patterns.