How Commodity Price Curves and Inventories React to a Short-Run Scarcity Shock

How Commodity Price Curves and Inventories React to a Short-Run Scarcity Shock
How does a commodity market adjust to a temporary scarcity shock which causes a shift in the slope of the futures price curve? We find long-run relationships between spot and futures prices, inventories and interest rates, which means that such shocks lead to an adjustment back towards a stable equilibrium. We find evidence that the adjustment is READ MORE...

Publication date: September 2010
ISBN 9781455208876
$18.00

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