The decline of most world commodity prices came to an end in recent months. The aggregate dollar price level was 15 per cent lower in the first quarter of 1999 compared to a year previously, and since autumn 1997 it even decreased by about 30 per cent. Oil prices fell particularly sharply, but...

For a considerable time, long-only index funds have been suspected of being responsible for price increases on agricultural futures markets, particularly those for grain. Utilizing partial equilibrium concepts, we analyze the market impacts of long-only index funds. Our analysis reveals that...