International Raw Commodity Price Control.
نویسندگان
چکیده
منابع مشابه
Volatility and Commodity Price Dynamics
Commodity prices tend to be volatile, and volatility itself varies over time. Changes in volatility can affect market variables by directly affecting the marginal value of storage, and by affecting a component of the total marginal cost of production: the opportunity cost of exercising the option to produce the commodity now rather than waiting for more price information. I examine the role of ...
متن کاملEffects of U.S. Macroeconomic Shocks on International Commodity Prices: Emphasis on Price and Exchange Rate Pass-through Effects
Using a structural VAR with block exogeneity, diagonality and identifying restrictions, this paper analyzes: first, the macroeconomic linkages among the oil price, U.S. output, interest rate, money supply, general price level and exchange rate and second, the relationships of the macroeconomic variables with the price indices of ten international nonfuel commodity groups. By assuming the block ...
متن کاملThe Simple Economics of Commodity Price Speculation
The price of crude oil in the U.S. never exceeded $40 per barrel until mid-2004. By 2006 it reached $70, and in July 2008 it peaked at $145. By late 2008 it had plummeted to about $30 before increasing to $110 in 2011. Are speculators at least partly to blame for these sharp price changes? We clarify the effects of speculators on commodity prices. We focus on crude oil, but our approach can be ...
متن کاملPolicy Responses to Commodity Price Movements — 2
B etween 1986 and 1998, the price of a barrel of West Texas Intermediate (WTI) oil remained quite stable, fluctuating between $16 and $42 constant 2011-U.S. dollars, with the exception of a brief spike in 1990 at the time of the first Gulf War. In December 1998, the barrel of WTI had reached a low point of $17. Almost 10 years later, in July 2008, the same barrel cost $134. By March 2009, the p...
متن کاملEconomic Criteria for Evaluating Commodity Price Forecasts
Forecasts of economic time series are often evaluated according to their accuracy as measured by either quantitativeprecision or qualitative reliability. We argue that consumers purchase forecasts for the potentialutility gains from utilizing them, not for theiraccuracy. Using Monte Carlo techniques to incorporate the temporal heteroskedasticity inherent in asset returns,the expected utility of...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: Journal of the American Statistical Association
سال: 1938
ISSN: 0162-1459
DOI: 10.2307/2278935