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The paper presents and estimates a model of the prices of oil and other storable commodities, a model that can be characterized as reflecting the carry trade. It focuses on speculative factors, here defined as the trade-off between interest rates on the one hand and market participants'...
Persistent link: https://www.econbiz.de/10013075796
Commodity prices are back. This paper looks at connections between monetary policy, and agricultural and mineral commodities. We begin with the monetary influences on commodity prices, first for a large country such as the United States, then smaller countries. The claim is that low real...
Persistent link: https://www.econbiz.de/10012760515
sub-standard economic performance. They are: long-term trends in world commodity prices, volatility, crowding out of … to overcome the pitfalls of the Curse. Ideas include indexation of oil contracts, hedging of export proceeds …
Persistent link: https://www.econbiz.de/10013145250