Irwin, Scott H.; Sanders, Dwight R. - In: Energy Economics 34 (2012) 1, pp. 256-269
The ‘Masters Hypothesis’ is the claim that long-only index investment was a major driver of the 2007–2008 spike in commodity futures prices and energy futures prices in particular. Index position data compiled by the CFTC are carefully compared. In the energy markets, index position...
