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Author : Panos Varangis
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 52 pages
Book Rating : 4./5 ( download)
Download or read book dealing with commodity price uncertainty written by Panos Varangis and published by World Bank Publications. This book was released on 1996 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Panayotis N. Varangis
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (847 download)
Download or read book Dealing with Commodity Price Uncertainty written by Panayotis N. Varangis and published by . This book was released on 1999 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: October 1996 Market liberalization has increased the appeal of commodity derivative instruments (such as futures, options, swaps, and commodity-linked notes) as a means of managing price uncertainty. In many emerging countries both government and the private sector are increasingly using these instruments. Liberalization in commodity markets has brought profound changes in the way price risks are allocated and managed in commodity subsectors. Price risks are increasingly allocated to private traders and farmers rather than absorbed by the government. The success of market reform depends on the ability of the emerging private sector to make full use of the available range of modern commodity marketing, price risk management (such as futures, options, swaps, commodity bonds, and so on), and financing instruments. Because farmers do not generally have direct access to these instruments, intermediaries must be developed. Larger private traders and banks are in the best position to become these intermediaries. Preconditions needed for accessing modern commodity marketing, price risk management, and financing instruments are: * Creating an appropriate legal, regulatory, and institutional framework. * Reducing government intervention that crowds out private sector involvement. * Providing training and raising awareness. * Improving creditworthiness and reducing performance risk. The use of commodity derivative instruments to hedge commodity price risk is not new among developing countries. The private sector in many Asian and Latin American countries, for example, have been using commodity futures and options for some time. More recently, commodity derivative instruments are being used increasingly in several African countries and many economies in transition. And several developing and transition economies have sought to establish commodity derivative exchanges. This paper - a product of the Commodity Policy and Analysis Unit, International Economics Department - is part of a larger effort in the department to investigate alternative price risk management and finance systems under market liberalization.
Author : Panos Varangis
Publisher :
ISBN 13 :
Total Pages : 52 pages
Book Rating : 4.:/5 (129 download)
Download or read book Dealing with Commodity Price Uncertainty written by Panos Varangis and published by . This book was released on 2016 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: Market liberalization has increased the appeal of commodity derivative instruments (such as futures, options, swaps, and commodity-linked notes) as a means of managing price uncertainty. In many emerging countries both government and the private sector are increasingly using these instruments. Liberalization in commodity markets has brought profound changes in the way price risks are allocated and managed in commodity subsectors. Price risks are increasingly allocated to private traders and farmers rather than absorbed by the government.The success of market reform depends on the ability of the emerging private sector to make full use of the available range of modern commodity marketing, price risk management (such as futures, options, swaps, commodity bonds, and so on), and financing instruments. Because farmers do not generally have direct access to these instruments, intermediaries must be developed. Larger private traders and banks are in the best position to become these intermediaries.Preconditions needed for accessing modern commodity marketing, price risk management, and financing instruments are:Creating an appropriate legal, regulatory, and institutional framework.Reducing government intervention that crowds out private sector involvement.Providing training and raising awareness.Improving creditworthiness and reducing performance risk.The use of commodity derivative instruments to hedge commodity price risk is not new among developing countries. The private sector in many Asian and Latin American countries, for example, have been using commodity futures and options for some time. More recently, commodity derivative instruments are being used increasingly in several African countries and many economies in transition. And several developing and transition economies have sought to establish commodity derivative exchanges.This paper - a product of the Commodity Policy and Analysis Unit, International Economics Department - is part of a larger effort in the department to investigate alternative price risk management and finance systems under market liberalization.
Author : Jan Dehn
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 66 pages
Book Rating : 4./5 ( download)
Download or read book The Effects on Growth of Commodity Price Uncertainty and Shocks written by Jan Dehn and published by World Bank Publications. This book was released on 2000 with total page 66 pages. Available in PDF, EPUB and Kindle. Book excerpt: The author estimates the effects on growth of commodity price shocks, and uncertainty within an established empirical growth model. Ex-post shocks, and ex-ante uncertainty have been treated in the empirical literature as if they were synonymous. But they are distinct concepts, and it is both theoretically, and empirically inappropriate to treat them as synonymous. He shows that the interaction between policy, and aid is robust to the inclusion of variables capturing commodity price movements. More important, his approach departs in three ways from earlier empirical studies of the subject: 1) It deals with issues of endogeneity, without incurring an excessive loss of efficiency. 2) It defines the dependent variable to allow an assessment of the longer-term implications of temporary trade shocks. 3) It imposes no priors on how commodity price movements affect growth, but compares and contrasts a range of competing shock, and uncertainty specifications. The author resolves the disagreement about the long-run effect of positive shocks on growth, finding that positive shocks have no long-run impact on growth (that windfalls from trade shocks do not translate into sustainable increases in income). He shows that negative shocks have large, highly significant, and negative effects on growth, but that commodity price uncertainty does not affect growth.
Author : Dehn
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (14 download)
Download or read book The Effects on Growth of Commodity Price Uncertainty and Shocks written by Dehn and published by . This book was released on 2013 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Jan Dehn
Publisher :
ISBN 13 :
Total Pages : 62 pages
Book Rating : 4.:/5 (129 download)
Download or read book The Effects on Growth of Commodity Price Uncertainty and Shocks written by Jan Dehn and published by . This book was released on 2016 with total page 62 pages. Available in PDF, EPUB and Kindle. Book excerpt: Commodity export dependency confers ex post shocks and ex ante uncertainty upon producing countries. What reduces growth is not the prospect of volatile world prices, but the actual realization of negative shocks.Dehn estimates the effects on growth of commodity price shocks and uncertainty within an established empirical growth model. Ex post shocks and ex ante uncertainty have been treated in the empirical literature as if they were synonymous. But they are distinct concepts and it is both theoretically and empirically inappropriate to treat them as synonymous.He shows that the interaction between policy and aid is robust to the inclusion of variables capturing commodity price movements. More important, his approach departs in three ways from earlier empirical studies of the subject:- It deals with issues of endogeneity without incurring an excessive loss of efficiency.- It defines the dependent variable to allow an assessment of the longer-term implications of temporary trade shocks.- It imposes no priors on how commodity price movements affect growth, but compares and contrasts a range of competing shock and uncertainty specifications.Dehn resolves the disagreement about the long-run effect of positive shocks on growth, finding that positive shocks have no long-run impact on growth (that windfalls from trade shocks do not translate into sustainable increases in income).He shows that negative shocks have large, highly significant, and negative effects on growth, but that commodity price uncertainty does not affect growth.This paper - a product of Rural Development, Development Research Group - is part of a larger effort in the group to analyze the impact of commodity price risks on developing economies. The author may be contacted at [email protected].
Author : Andrew Powell
Publisher :
ISBN 13 :
Total Pages : 25 pages
Book Rating : 4.:/5 (181 download)
Download or read book The Costs of Commodity Price Uncertainty and Instability written by Andrew Powell and published by . This book was released on 1992 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Jan Dehn
Publisher :
ISBN 13 :
Total Pages : 56 pages
Book Rating : 4.:/5 (129 download)
Download or read book Commodity Price Uncertainty in Developing Countries written by Jan Dehn and published by . This book was released on 2016 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : A. Powell
Publisher :
ISBN 13 :
Total Pages : 25 pages
Book Rating : 4.:/5 (129 download)
Download or read book " The costs of commodity price uncertainty and instability" written by A. Powell and published by . This book was released on 1992 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Jan Dehn
Publisher :
ISBN 13 :
Total Pages : 58 pages
Book Rating : 4.:/5 (777 download)
Download or read book Commodity price uncertainty in development countries written by Jan Dehn and published by . This book was released on 2000 with total page 58 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Jan Dehn
Publisher :
ISBN 13 :
Total Pages : 47 pages
Book Rating : 4.:/5 (247 download)
Download or read book Commodity Price Uncertainty and Shocks written by Jan Dehn and published by . This book was released on 2000 with total page 47 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Max F. Schöne
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (113 download)
Download or read book Operational and Financial Risk Management Under Commodity Price Uncertainty written by Max F. Schöne and published by . This book was released on 2016 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Clement Allan Tisdell
Publisher : Princeton University Press
ISBN 13 : 1400876338
Total Pages : 208 pages
Book Rating : 4.4/5 (8 download)
Download or read book The Theory of Price Uncertainty, Production, and Profit written by Clement Allan Tisdell and published by Princeton University Press. This book was released on 2015-12-08 with total page 208 pages. Available in PDF, EPUB and Kindle. Book excerpt: Firms and farmers, under pure competition, must make production decisions in the face of price uncertainty. The author has integrated diverse theories of behavior under uncertainty to provide a new framework for his mathematical analysis of the impact of price uncertainty on the behavior of the firm. Drawing upon the work of Knight, Hicks, von Neumann, and Morgenstern, he develops a schema that accounts for a greater diversity of behavior than do existing theories, yet one which yields simple economic theorems of practical value. The conclusions he draws apply to both socialist and capitalist economics. Originally published in 1968. The Princeton Legacy Library uses the latest print-on-demand technology to again make available previously out-of-print books from the distinguished backlist of Princeton University Press. These editions preserve the original texts of these important books while presenting them in durable paperback and hardcover editions. The goal of the Princeton Legacy Library is to vastly increase access to the rich scholarly heritage found in the thousands of books published by Princeton University Press since its founding in 1905.
Author : B.R. Munier
Publisher : IOS Press
ISBN 13 : 1614990379
Total Pages : 256 pages
Book Rating : 4.6/5 (149 download)
Download or read book Global Uncertainty and the Volatility of Agricultural Commodities Prices written by B.R. Munier and published by IOS Press. This book was released on 2012-04-24 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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 : Wayne Penello
Publisher : Forbesbooks
ISBN 13 : 9781950863020
Total Pages : 240 pages
Book Rating : 4.8/5 (63 download)
Download or read book Risk Is an Asset written by Wayne Penello and published by Forbesbooks. This book was released on 2020-08-11 with total page 240 pages. Available in PDF, EPUB and Kindle. Book excerpt: WAYNE PENELLO AND ANDREW FURMAN have spent the better part of forty years investigating traditional hedging practices and innovating a better solution. And that innovation put them on a path to invent a groundbreaking approach to hedging. Risk Is an Asset tells the story of that invention, and it will transform the way you think about hedging strategies. What you will learn by reading this book is that effective hedging is not a decision, it is a process they call "Process Risk Management," or PRM. It is guided by risk metrics expressed in the same budgetary terms used to measure the success of your business. PRM helps each firm maintain focus on its own budgetary success and avoid the trap of trying to outguess the market. Why is measuring risk in budgetary terms important? Because if you measure the wrong things, you are unlikely to get the results you want.
Author : Marc Joëts
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (919 download)
Download or read book Does the Volatility of Commodity Prices Reflect Macroeconomic Uncertainty? written by Marc Joëts and published by . This book was released on 2015 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Frederick L. A. Grauer
Publisher :
ISBN 13 :
Total Pages : 24 pages
Book Rating : 4.:/5 (8 download)
Download or read book The Pricing of Commodity Futures Contracts, Nominal Bonds and Other Risky Assets Under Commodity Price Uncertainty written by Frederick L. A. Grauer and published by . This book was released on 1978 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt:
