The present study aims to investigate the dynamics of primary commodity prices and the role of speculation over time. In particular the relationship between speculation and price volatility on the one side, and the linkage between excessive speculation and price volatility on the other side, is...

This paper presents a new string term structured model with stochastic volatility calibrated with futures and options market data. I use interest rate options to build a time series of the variance of the factors that drive the interest rates (level, slope, and curvature). In addition, the...