Irwin, Scott H.; Sanders, Dwight R.; Merrin, Robert P. - In: Journal of Agricultural and Applied Economics 41 (2009) 02
It is commonly asserted that speculative buying by index funds in commodity futures and overâ …€“the–counter derivatives markets created a ‘‘bubble’’ in commodity prices, with the result that prices, and crude oil prices, in … conceptually flawed and reflect fundamental and basic misunderstandings of how commodity futures markets actually work. Second, a …