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Author : Pier Giorgio Ardeni
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 60 pages
Book Rating : 4./5 ( download)
Download or read book The Long-term Behavior of Commodity Prices written by Pier Giorgio Ardeni and published by World Bank Publications. This book was released on 1990 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Blake C. Clayton
Publisher : Cambridge University Press
ISBN 13 : 1107042518
Total Pages : 215 pages
Book Rating : 4.1/5 (7 download)
Download or read book Commodity Markets and the Global Economy written by Blake C. Clayton and published by Cambridge University Press. This book was released on 2016 with total page 215 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides a clear-eyed analysis of questions at the intersection of commodity markets, natural resource economics, and public policy.
Author : Takatoshi Ito
Publisher : University of Chicago Press
ISBN 13 : 0226386899
Total Pages : 346 pages
Book Rating : 4.2/5 (263 download)
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.
Author : Mr.Paul Cashin
Publisher : INTERNATIONAL MONETARY FUND
ISBN 13 : 9781451848991
Total Pages : 27 pages
Book Rating : 4.8/5 (489 download)
Download or read book The Long-Run Behavior of Commodity Prices written by Mr.Paul Cashin and published by INTERNATIONAL MONETARY FUND. This book was released on 2001-05-01 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt: Using the longest dataset publicly available (The Economist's index of industrial commodity prices), we analyze the behavior of real commodity prices over the period 1862-99, and have two main findings. First, while there has been a downward trend in real commodity prices of 1.3 percent per year over the last 140 years, little support is found for a break in the long-run trend decline in commodity prices. Second, there is evidence of a ratcheting up in the variability of price movements. The amplitude of price movements increased in the early 1900s, while the frequency of large price movements increased after the collapse of the Bretton Woods regime of fixed exchange rates in the early 1970s. While there is a downward trend in real commodity prices, this is of little practical policy relevance as it is small and completely dominated by the variability of prices.
Author : Mr.James M. Boughton
Publisher : International Monetary Fund
ISBN 13 : 1451972857
Total Pages : 40 pages
Book Rating : 4.4/5 (519 download)
Download or read book Commodity and Manufactures Prices in the Long Run written by Mr.James M. Boughton and published by International Monetary Fund. This book was released on 1991-05-01 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: The low level of primary commodity prices since 1985 is examined in the context of the behavior of those prices relative to prices of manufactured goods since 1854. The Prebisch-Singer hypothesis of a secular decline in relative commodity prices is sustained, but the recent decline is shown to be well outside the realm of historical experience. Commodity and manufactures prices are found to be cointegrated, conditional on the negative trend and a number of unexplained short-term swings. The earlier finding of a Gibson paradox is explained in terms of the difference between short- and long-run relationships.
Author : Craig Pirrong
Publisher : Cambridge University Press
ISBN 13 : 1139501976
Total Pages : 238 pages
Book Rating : 4.1/5 (395 download)
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 238 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.
Author : Mr.Shaun K. Roache
Publisher : International Monetary Fund
ISBN 13 : 1455208876
Total Pages : 37 pages
Book Rating : 4.4/5 (552 download)
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.
Author : Frank J. Fabozzi
Publisher : John Wiley & Sons
ISBN 13 : 0470293209
Total Pages : 986 pages
Book Rating : 4.4/5 (72 download)
Download or read book The Handbook of Commodity Investing written by Frank J. Fabozzi and published by John Wiley & Sons. This book was released on 2008-06-02 with total page 986 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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 : M. A. H. Dempster
Publisher : CRC Press
ISBN 13 : 1498712339
Total Pages : 703 pages
Book Rating : 4.4/5 (987 download)
Download or read book Commodities written by M. A. H. Dempster and published by CRC Press. This book was released on 2015-11-05 with total page 703 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since a major source of income for many countries comes from exporting commodities, price discovery and information transmission between commodity futures markets are key issues for continued economic development. This book covers the fundamental theory of and derivatives pricing for major commodity markets as well as the interaction between commodity prices, the real economy, and other financial markets. After an extensive theoretical and practical introduction, the book is divided into four parts: Oil Products – considers the structural changes in the demand and supply for hedging services that are increasingly determining the price of oil Other Commodities – examines markets related to agricultural commodities, including natural gas, wine, soybeans, corn, gold, silver, copper, and other metals Commodity Prices and Financial Markets – investigates the contemporary aspects of the financialization of commodities, including stocks, bonds, futures, currency markets, index products, and exchange traded funds Electricity Markets – supplies an overview of the current and future modelling of electricity markets With contributions from well-known academics and practitioners, this volume includes coverage of the fundamental theory of futures/forwards and derivatives pricing for major commodity markets. The contributions to Sections I and II of this volume, which treat storable or agricultural commodities, take speculation into account through a consideration of markets over time being either in backwardation or contango. Up-to-date considerations of both trading and investment are included in Sections I, II, and III. The book also reviews the effects of urbanization and the expanding middle-class population on commodities.
Author : Frederick Cecil Mills
Publisher :
ISBN 13 :
Total Pages : 608 pages
Book Rating : 4.3/5 (512 download)
Download or read book The Behavior of Prices written by Frederick Cecil Mills and published by . This book was released on 1927 with total page 608 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Mr.Rabah Arezki
Publisher : International Monetary Fund
ISBN 13 : 1484320816
Total Pages : 25 pages
Book Rating : 4.4/5 (843 download)
Download or read book Excerpt: Shifting Commodity Markets in a Globalized World written by Mr.Rabah Arezki and published by International Monetary Fund. This book was released on 2017-09-22 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper discusses developments and prospects for energy, metals, and food markets since the early 2000s, the start of what is termed a commodities supercycle—the rise of commodity prices over a decade or more as a result of a rapid urbanization and an expansion of infrastructure. Macroeconomists often assume that technological innovation is exogenous (driven largely by external factors or forces), but this volume documents how innovation in energy markets is directly affected by prices. When oil, natural gas, or fossil fuels become scarce, prices increase. This stimulates innovation and the adoption of new technologies and techniques for recovery and use of these resources. Conversely, when these commodities are abundant, prices fall, slowing the pace of innovation and the adoption of new techniques. At the heart of international trade in commodities are cross-country differenc¬es in resource endowments. Natural resources are materials or substances that occur in nature and can be used for economic gain, and so these include not only reserves of hydrocarbons, minerals, fisheries, and forests, but also temperate weather, fertile land, and access to water, which are important to agriculture.
Author : Centre for Economic Policy Research
Publisher : CEPR
ISBN 13 : 1907142134
Total Pages : 350 pages
Book Rating : 4.9/5 (71 download)
Download or read book Food Prices and Rural Poverty written by Centre for Economic Policy Research and published by CEPR. This book was released on 2010-11-15 with total page 350 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Author : James M. Boughton
Publisher :
ISBN 13 :
Total Pages : 40 pages
Book Rating : 4.:/5 (129 download)
Download or read book Commodity and Manufactures Prices in the Long Run written by James M. Boughton and published by . This book was released on 2006 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: The low level of primary commodity prices since 1985 is examined in the context of the behavior of those prices relative to prices of manufactured goods since 1854. The Prebisch-Singer hypothesis of a secular decline in relative commodity prices is sustained, but the recent decline is shown to be well outside the realm of historical experience. Commodity and manufactures prices are found to be cointegrated, conditional on the negative trend and a number of unexplained short-term swings. The earlier finding of a Gibson paradox is explained in terms of the difference between short- and long-run relationships.
Author : International Monetary Fund
Publisher : International Monetary Fund
ISBN 13 : 1451953089
Total Pages : 46 pages
Book Rating : 4.4/5 (519 download)
Download or read book Commodity Prices As a Leading Indicator of Inflation written by International Monetary Fund and published by International Monetary Fund. This book was released on 1988-10-03 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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 : Walter C. Labys
Publisher : Routledge
ISBN 13 : 1351917080
Total Pages : 264 pages
Book Rating : 4.3/5 (519 download)
Download or read book Modeling and Forecasting Primary Commodity Prices written by Walter C. Labys and published by Routledge. This book was released on 2017-03-02 with total page 264 pages. Available in PDF, EPUB and Kindle. Book excerpt: Recent economic growth in China and other Asian countries has led to increased commodity demand which has caused price rises and accompanying price fluctuations not only for crude oil but also for the many other raw materials. Such trends mean that world commodity markets are once again under intense scrutiny. This book provides new insights into the modeling and forecasting of primary commodity prices by featuring comprehensive applications of the most recent methods of statistical time series analysis. The latter utilize econometric methods concerned with structural breaks, unobserved components, chaotic discovery, long memory, heteroskedasticity, wavelet estimation and fractional integration. Relevant tests employed include neural networks, correlation dimensions, Lyapunov exponents, fractional integration and rescaled range. The price forecasting involves structural time series trend plus cycle and cyclical trend models. Practical applications focus on the price behaviour of more than twenty international commodity markets.
Author : Blake C. Clayton
Publisher : Oxford University Press
ISBN 13 : 0199990069
Total Pages : 240 pages
Book Rating : 4.1/5 (999 download)
Download or read book Market Madness written by Blake C. Clayton and published by Oxford University Press. This book was released on 2015-01-02 with total page 240 pages. Available in PDF, EPUB and Kindle. Book excerpt: Stock market booms are cause for celebration. But when oil prices soar because supplies are failing to keep up with demand, the response is nearly always apocalyptic. Predictions of the end of oil can create anxiety on Wall Street and in Washington, stoking fears that production has hit a ceiling and prices will rise in perpetuity. Yet these dire visions have always proven wrong. Market Madness is the story of four waves of American anxiety over the last 100 years about a looming end to oil reserves. Their sweeping pattern-as large price increases lead to widespread shortage fears that eventually dissipate when oil production rises again and prices moderate-has defined the wild price swings in the oil market down to the present day. Blake Clayton, a Wall Street stock analyst and adjunct fellow at the Council on Foreign Relations, makes the case for the need for better information, communication and transparency. While these measures will not eliminate volatility and unpredictability completely, they would mitigate unnecessary price spikes and improve both investor and government decision-making. Market Madness is the first study to employ Nobel Laureate economist Robert Shiller's "new era economics" beyond the markets to which he famously applied it-the 1990s dot-com equity market and the mid-2000s housing market-in order to better understand the dynamics of speculative bubbles and irrationality in the commodities markets. In so doing, it breaks new ground in illuminating how mass beliefs about the future of a vital asset like oil take shape and what the future of energy may hold.
Author : Mr.Paul Cashin
Publisher : International Monetary Fund
ISBN 13 : 145185028X
Total Pages : 55 pages
Book Rating : 4.4/5 (518 download)
Download or read book How Persistent Are Shocks to World Commodity Prices? written by Mr.Paul Cashin and published by International Monetary Fund. This book was released on 1999-06-01 with total page 55 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the persistence of shocks to world commodity prices, using monthly IMF data on primary commodities between 1957–98. We find that shocks to commodity prices are typically long–lasting and the variability of the persistence of price shocks is quite wide. The paper also discusses the implications of these findings for national and international schemes to stabilize earnings from commodity exports and finds that if price shocks are long–lived, then the cost of stabilization schemes will likely exceed any associated smoothing benefits.
