Read Books Online and Download eBooks, EPub, PDF, Mobi, Kindle, Text Full Free.
Inventories And The Short Run Dynamics Of Commodity Prices
Download Inventories And The Short Run Dynamics Of Commodity Prices full books in PDF, epub, and Kindle. Read online Inventories And The Short Run Dynamics Of Commodity Prices ebook anywhere anytime directly on your device. Fast Download speed and no annoying ads. We cannot guarantee that every ebooks is available!
Book Synopsis Inventories and the Short-run Dynamics of Commodity Prices by : Robert S. Pindyck
Download or read book Inventories and the Short-run Dynamics of Commodity Prices written by Robert S. Pindyck and published by . This book was released on 1990 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis How Commodity Price Curves and Inventories React to a Short-Run Scarcity Shock by : Mr.Shaun K. Roache
Download or read book How Commodity Price Curves and Inventories React to a Short-Run Scarcity Shock written by Mr.Shaun K. Roache and published by International Monetary Fund. This book was released on 2010-09-01 with total page 37 pages. Available in PDF, EPUB and Kindle. Book excerpt: How does a commodity market adjust to a temporary scarcity shock which causes a shift in the slope of the futures price curve? We find long-run relationships between spot and futures prices, inventories and interest rates, which means that such shocks lead to an adjustment back towards a stable equilibrium. We find evidence that the adjustment is somewhat consistent with well-known theoretical models, such as Pindyck (2001); in other words, spot prices rise and then fall, while inventories are used to absorb the shock. Importantly, the pace and nature of the adjustment depends upon whether inventories were initially high or low, which introduces significant nonlinearities into the adjustment process.
Book Synopsis The Dynamics of Commodity Spot and Futures Markets by : Robert S. Pindyck
Download or read book The Dynamics of Commodity Spot and Futures Markets written by Robert S. Pindyck and published by . This book was released on 2001 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: I discuss the short-run dynamics of commodity prices, production, and inventories, as well as the sources and effects of market volatility. I explain how prices, rates of production, and inventory levels are interrelated, and are determined via equilibrium in two interconnected markets: a cash market for spot purchases and sales of the commodity, and a market for storage. I show how equilibrium in these markets affects and is affected by changes in the level of price volatility. I also explain the role and behavior of commodity futures markets, and the relationship between spot pries, futures prices, and inventory behavior. I illustrate these ideas with data for the petroleum complex--crude oil, heating oil, and gasoline--over the past two decades.
Book Synopsis Commodity Price Dynamics by : Craig Pirrong
Download or read book Commodity Price Dynamics written by Craig Pirrong and published by Cambridge University Press. This book was released on 2011-10-31 with total page 239 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Structural Modeling of Short-run Price Dynamics in Commodities Markets by : Ali Nouri Dariani
Download or read book Structural Modeling of Short-run Price Dynamics in Commodities Markets written by Ali Nouri Dariani and published by . This book was released on 2014 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation addresses the gap between commodity price models in economics and finance. The literature in finance often abstracts from market forces and calibrates a stochastic process of price dynamics in order to follow them closely and to price commodity derivatives, most importantly futures contracts. On the other hand models in economics literature often focus on supply, demand and inventories in the long-run. I have developed short-run structural models of commodity prices. These models provide a better description of price dynamics by considering the underlying structure of the economy. Since these models incorporate actions of market participants, they have the advantage of being able to process information signals about probabilities of future supply/demand shocks. The other advantage of short-run structural models is their power in prediction of unobservable states of the economy. Hence, these models provide a better description of forward curves in commodities markets. Recent advances in the theory of storage have been able to associate specific behaviors of commodity prices with inventory dynamics. These models assume producers and consumers who only consider current price, and storage units who consider the whole stochastic process of price in the future. This thesis improves upon these models in two aspects. First, I remove the assumption that the producers and consumers take into account only the current price. For depletable commodities specifically, and for many commodities in general, it is more plausible to assume that the producer has the option to sell the commodity now or postpone the extraction until a future time. The expected future dynamics of prices can change the current production decisions and as a result the current and future prices. My model characterizes the equilibrium of such a system and its comparative dynamics. Second, I introduce an advanced calibration algorithm for this model. Traditional models calibrate their parameters by minimizing their prediction error on aggregate measures such as the average volatility of forward prices. My approach considers the instances of forwards curves and tries to matches each of them. One advantage of this model is the ability to estimate the state of the system (e.g. remaining inventories) as well as the transient and permanent shocks in supply/demand. The theoretical framework of this dissertation shows that actions of rational market participants impose certain price dynamics to the market. Most examples in this work consider crude oil as it is the most traded commodity, with liquid future contracts for longer horizons. Calibration results demonstrate the improvements that short-run structural models could create in describing price dynamics.
Book Synopsis Inventories and Wholesale Gasoline Price Dynamics by : Gerard H. Kuper
Download or read book Inventories and Wholesale Gasoline Price Dynamics written by Gerard H. Kuper and published by . This book was released on 2009 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper sheds new light on the asymmetric short-run dynamics of US gasoline prices. The odel is inspired by Pindyck's inventory model of commodity price dynamics, that stresses the importance of volatility in crude oil markets for short-run market dynamics. We show that after February 1999 asymmetry in gasoline price dynamics is caused by changes in the net marginal convenience yield: higher costs of marketing and storage lead to rising gasoline prices, whereas a drop in these costs hardly affects gasoline prices.
Book Synopsis Commodity Prices and Markets by : Takatoshi Ito
Download or read book Commodity Prices and Markets written by Takatoshi Ito and published by University of Chicago Press. This book was released on 2011-03 with total page 346 pages. Available in PDF, EPUB and Kindle. Book excerpt: Fluctuations of commodity prices, most notably of oil, capture considerable attention and have been tied to important economic effects. This book advances our understanding of the consequences of these fluctuations, providing both general analysis and a particular focus on the countries of the Pacific Rim.
Book Synopsis Short-term Variations and Long-term Dynamics in Commodity Prices by : Eduardo S. Schwartz
Download or read book Short-term Variations and Long-term Dynamics in Commodity Prices written by Eduardo S. Schwartz and published by . This book was released on 1997 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Storage and Commodity Markets by : Jeffrey C. Williams
Download or read book Storage and Commodity Markets written by Jeffrey C. Williams and published by Cambridge University Press. This book was released on 1991-03-29 with total page 522 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book deals with the capability to store surplus commodities and the impact of stockpiles on prices and production.
Book Synopsis The Economics of Commodity Markets by : Julien Chevallier
Download or read book The Economics of Commodity Markets written by Julien Chevallier and published by John Wiley & Sons. This book was released on 2013-06-19 with total page 373 pages. Available in PDF, EPUB and Kindle. Book excerpt: As commodity markets have continued their expansion an extensive and complex financial industry has developed to service them. This industry includes hundreds of participating firms, including asset managers, brokers, consultants, verification agencies and a myriad of other institutions. Universities and other training institutions have responded to this rapid expansion of commodity markets as well as their substantial future growth potential by launching specialized courses on the subject. The Economics of Commodity Markets attempts to bridge the gap between academics and working professionals by way of a textbook that is both theoretically informative and practical. Based in part on the authors’ teaching experience of commodity finance at the University Paris Dauphine, the book covers all important commodity markets topics and includes coverage of recent topics such as financial applications and intuitive economic reasoning. The book is composed of three parts that cover: commodity market dynamics, commodities and the business cycle, and commodities and fundamental value. The key original approach to the subject matter lies in a shift away from the descriptive to the econometric analysis of commodity markets. Information on market trends of commodities is presented in the first part, with a strong emphasis on the quantitative treatment of that information in the remaining two parts of the book. Readers are provided with a clear and succinct exposition of up-to-date financial economic and econometric methods as these apply to commodity markets. In addition a number of useful empirical applications are introduced and discussed. This book is a self-contained offering, discussing all key methods and insights without descending into superfluous technicalities. All explanations are structured in an accessible manner, permitting any reader with a basic understanding of mathematics and finance to work their way through all parts of the book without having to resort to external sources.
Download or read book Commodities written by Harold Kent Baker and published by Oxford University Press. This book was released on 2018 with total page 681 pages. Available in PDF, EPUB and Kindle. Book excerpt: Commodities: Markets, Performance, and Strategies provides a comprehensive look at commodity markets along many dimensions. Its coverage includes physical commodity fundamentals, financial products and strategies for commodity exposure, and current issues relating to commodities. Readers interested in commodity market basics or more nuanced details related to commodity investment can benefit.
Book Synopsis Commodity Prices and the New Inflation by : Barry Bosworth
Download or read book Commodity Prices and the New Inflation written by Barry Bosworth and published by Brookings Institution Press. This book was released on 1982 with total page 244 pages. Available in PDF, EPUB and Kindle. Book excerpt: The role of primary commodities in industries economies; The contribution of primary commodity price increases to inflation; Sources of commodity price fluctuations; Grain and petroleum: the role of institutional changes; The policy choices: some general considerations; Commodity stabilization policies: some specific proposals.
Book Synopsis Dynamics of Commodity Production Cycles by : Dennis L. Meadows
Download or read book Dynamics of Commodity Production Cycles written by Dennis L. Meadows and published by MIT Press (MA). This book was released on 1970 with total page 128 pages. Available in PDF, EPUB and Kindle. Book excerpt: (Now available from Productivity Press, Cambridge, Mass.)
Book Synopsis Primary Commodity Prices and Macroeconomic Variables by : Theodosios B. Palaskas
Download or read book Primary Commodity Prices and Macroeconomic Variables written by Theodosios B. Palaskas and published by World Bank Publications. This book was released on 1989 with total page 57 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Commodity Modeling and Pricing by : Peter V. Schaeffer
Download or read book Commodity Modeling and Pricing written by Peter V. Schaeffer and published by John Wiley & Sons. This book was released on 2008-12-03 with total page 442 pages. Available in PDF, EPUB and Kindle. Book excerpt: Commodity Modeling and Pricing provides extensions and applications of state-of-the-art methods for analyzing resource commodity behavior. Drawing from the seminal work of Professor Walter Labys on the development of econometric methods for forecasting commodity prices, this collection of essays features expert contributors ranging from practitioners in private industry, public sector, and nongovernmental organizations to scholars in higher education–all of whom were Labys's former students or collaborators. Filled with in-depth insights and expert advice, Commodity Modeling and Pricing contains the information you need to excel in this demanding environment.
Book Synopsis Handbook of Macroeconomics by : John B. Taylor
Download or read book Handbook of Macroeconomics written by John B. Taylor and published by Elsevier. This book was released on 1999-12-13 with total page 576 pages. Available in PDF, EPUB and Kindle. Book excerpt: Annotation Part 6: Financial Markets and the Macroeconomy. 19. Asset prices, consumption, and the business cycle (J.Y. Campbell). 20. Human behavior and the efficiency of the financial system (R.J. Shiller). 21. The financial accelerator in a quantitative business cycle framework (B. Bernanke, M. Gertler and S. Gilchrist). Part 7: Monetary and Fiscal Policy. 22. Political economics and macroeconomic policy (T. Persson, G. Tabellini). 23. Issues in the design of monetary policy rules (B.T. McCallum). 24. Inflation stabilization and BOP crises in developing countries (G.A. Calvo, C.A. Vegh). 25. Government debt (D.W. Elmendorf, N.G. Mankiw). 26. Optimal fiscal and monetary policy (V.V. Chari, P.J. Kehoe).
Book Synopsis Commodity Modeling and Pricing by : Peter V. Schaeffer
Download or read book Commodity Modeling and Pricing written by Peter V. Schaeffer and published by John Wiley & Sons. This book was released on 2008-10-06 with total page 345 pages. Available in PDF, EPUB and Kindle. Book excerpt: Commodity Modeling and Pricing provides extensions and applications of state-of-the-art methods for analyzing resource commodity behavior. Drawing from the seminal work of Professor Walter Labys on the development of econometric methods for forecasting commodity prices, this collection of essays features expert contributors ranging from practitioners in private industry, public sector, and nongovernmental organizations to scholars in higher education–all of whom were Labys's former students or collaborators. Filled with in-depth insights and expert advice, Commodity Modeling and Pricing contains the information you need to excel in this demanding environment.