Langfristige Lieferverträge sind ein wichtiges institutionelles Arrangement des Ressourcensektors, mit dem ein Abbauunternehmen Risiken verlagern kann. Der Beitrag untersucht die Inzidenz langfristiger Verträge auf das Abbauprofil und die Risikoallokationseigenschaften der Verträge. Dabei...

Over the past 5 years, real energy and non-energy commodity prices have trended sharply higher. These relative price movements have had important implications for inflation and economic activity in both Canada and the rest of the world. China has accounted for the bulk of incremental demand for...

Money manager capitalism - characterized by highly leveraged funds seeking maximum returns in an environment that systematically underprices risk - has resulted in a series of boom-and-bust cycles in equities, real estate, and commodities. Because subsequent cycles have been increasingly...

We analyze the way in which Latin American countries have adjusted to commodity terms of trade (CTOT) shocks in the 1970-2007 period. Specifically, we investigate the degree to which the active management of international reserves and exchange rates impacted the transmission of international...