Stabilizing Speculative Commodity Markets

Stabilizing Speculative Commodity Markets PDF

Author: S. Ghosh

Publisher: Oxford University Press, USA

Published: 1987

Total Pages: 466

ISBN-13:

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After briefly reviewing the problems caused by commodity price instability, the authors develop a mathematical model for commodity markets. The implications of this model for intervention and the welfare effects are then considered. A fully developed model of the world copper market is usedto investigate alternative buffer stock intervention rules in order to assess the scope and limitations of such stabilization strategies.

The Theory of Commodity Price Stabilization

The Theory of Commodity Price Stabilization PDF

Author: David M. G. Newbery

Publisher: Oxford University Press, USA

Published: 1981

Total Pages: 486

ISBN-13:

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Fundamentals: supply and demand under risk; Market equilibrium; Price stabilization with no supply response; Supply responses to stabilization; Microeconomic repercussions; Economic considerations.

Shifting Commodity Markets in a Globalized World

Shifting Commodity Markets in a Globalized World PDF

Author: Mr.Rabah Arezki

Publisher: International Monetary Fund

Published: 2017-12-01

Total Pages: 112

ISBN-13: 1484310322

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A survey of the complex and intertwined set of forces behind the various commodity markets and the interplay between these markets and the global economy. Summarizes a rich set of facts combined with in-depth analyses distillated in a nontechnical manner. Includes discussion of structural trends behind commodities markets, their future implications, and policy implications.

Global Commodity Price Stabilization

Global Commodity Price Stabilization PDF

Author: Mahdi Elbaghdadi

Publisher: Praeger

Published: 1995-02-28

Total Pages: 326

ISBN-13: 9780899308241

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This book deals with commodity price stabilization. It explores the contemporary changes in global trade agreements and their relationship to the ongoing changes in international and regional trade structures and economic integration. It takes a wholistic, interdisciplinary approach, including economic, legal and political aspects; examines the EC and NAFTA as important trade blocs, and their impact on global economies. Investigates the Chinese approach to trade management, the oil price stabilization policies, and seabed minerals; discusses discrimination in international trade. The interdisciplinary nature of the book is given prominence through the layout of the various parts. Part I examines the legal issues of commodity trade, investigating the debate over whether international trade agreements create hard law or soft law. Part II discusses the political economy of contemporary global trade issues, including the rise of intraindustry trade and discrimination in international trade. Part III addresses the recent trend towards regionalism and trade blocs, focusing on the EC and NAFTA, and their economic implications. Finally, Part IV presents the issues of commodity trade stabilization for minerals and oil, including both land-based and seabed commodities.

Commodity Markets and the Global Economy

Commodity Markets and the Global Economy PDF

Author: Blake C. Clayton

Publisher: Cambridge University Press

Published: 2015-10-14

Total Pages:

ISBN-13: 1316409309

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In an era defined by financial upheaval, few parts of the economy have witnessed the kind of volatility seen in commodities markets. In this book, Blake Clayton, a Wall Street analyst and adjunct fellow at the Council on Foreign Relations, draws on the latest thinking from academia and the private sector to deliver a clear-eyed analysis of pressing questions at the intersection of commodity markets, natural resource economics, and public policy. The result is a work that challenges the conventional wisdom about how these markets function and provides a fresh perspective on what public policy can do to improve them.

Price Stabilization on World Agricultural Markets

Price Stabilization on World Agricultural Markets PDF

Author: Bernd Lucke

Publisher: Springer Science & Business Media

Published: 2012-12-06

Total Pages: 280

ISBN-13: 3642467822

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International commodity markets have traditionally attracted the attention of economists, econometricians, and policy makers especially in and following politically tumultuous times. For instance, the primary commodity price boom of 1973/74 and the subsequent period of highly volatile world market prices initiated increased research on commodity markets which quickly focused on possible price stabilization schemes, particularly on buffer stocks. Simultaneously, the issue clearly advanced in priority on the political agenda, such that the United Nations Conference on Trade and Development (UNCTAD) proposed an "Integrated Program for Commodities" (IPC) intended to stabilize the world market prices of ten so-called "core commodities"l (UNCTAD (1974, 1976a), Behrman (1979)). Many developing nations welcomed the IPC almost enthusiastically, but it did not receive more than lukewarm support by major industrialized countries, apparently due to the experience with some thirty international commodity agreements past World War II2. Critical evaluations have, among others, been presented by McNicol (1978), Gordon-Ashworth (1984), and Macbean & Nguyen (1987). The most detailed of these studies is Gordon-Ashworth's, who concludes that "on balance ... the performance of international commodity agreements has been too unreliable and their distributive effects too uneven to secure the development goals that have been set" (1984, p. 284)3. Consequently, the IPC turned out to be quite controversial a topic on the UNCTAD's 1976 meeting in Nairobi and has not been able to gain any impetus since. lThese were cocoa, coffee, copper, cotton, jute, rubber, sisal, sugar, tea, and tin.

Global Uncertainty and the Volatility of Agricultural Commodities Prices

Global Uncertainty and the Volatility of Agricultural Commodities Prices PDF

Author: B.R. Munier

Publisher: IOS Press

Published: 2012-04-24

Total Pages: 256

ISBN-13: 1614990379

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The recent global financial crisis exposed the serious limitations of existing economic and financial models. Not only did macro models fail to predict the crisis, they seemed incapable of explaining what was happening to the economy. Policymakers felt abandoned by the conventional tools of the now obsolete Washington consensus and the World Trade Organization’s oversimplified faith in free markets.The traditional models for agricultural commodities have so far failed to take into account the uncertain character of the global agricultural economy and its ferocious consequences in food price volatility, the worst in 300 years, yielding hunger riots throughout the world. This book explores the elements which could help to close this fundamental modeling gap. To what extent should traditional models be questioned regarding agricultural commodities? Are prices on these markets foreseeable? Can their evolution be either predicted or convincingly simulated, and if so, by which methods and models? Presenting contributions from acknowledged experts from several countries and backgrounds – professors at major international universities or researchers within specialized international organizations – the book concentrates on four issues: the role of expectations and capacity of prediction; policy issues related to development strategies and food security; the role of hoarding and speculation and finally, global modeling methods. The book offers a renewed wisdom on some of the core issues in the world economy today and puts forward important innovations in analyzing these core issues, among which the modular modeling design, the Momagri model being a seminal example of it. Reading this book should inspire fruitful revisions in policy-making to improve the welfare of populations worldwide.