International commodity market models : advances in methodology and applications
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International commodity market models : advances in methodology and applications
（International studies in economic modelling）
Chapman and Hall, 1991
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Description and Table of Contents
Description
Part of a series, this volume comprises a selection of methodology-oriented papers presented at the 25th International Conference of the Applied Econometrics Association on International Commodity Market Modelling which took place at the World Bank, Washington, 1988. Economic and statistical analyses are obviously of great importance in studying commodity markets. A deep knowledge of market-clearing processes, the institutional structures of the industries related to each commodity market whether on the supply or demand side and the statistical methods of data handling for inference purposes are all needed in order to make good sense of the wealth of information on commodity market data. In addition, a technological understanding of the economic processes underlying each market is necessary. The agronomy of crop production, the techniques of crop distribution from harvest to end-use, the contributions of meteorology, the engineering of metallurgy, the engineering of processing factories, the combating of oil spills, the control of pollution and many other technological aspects of the different markets are essential for a good understanding of the forces at work in each case.
Also legal and political factors play roles in the markets and require some specialized knowledge of their effects. Almost every market is different and so a specialized technological background is required, but that adds much substance to the research. By fitting together appropriate cross-disciplinary bodies of information in commodity market studies, a high degree of interest and analytical challenge can be attained.
Table of Contents
- Part 1 Advances in modelling methology: new horizons in international commodity market modelling, W.C. Labys et al
- computing equilibria in imperfectly competitive commodity markets, C. Kolstad and L. Mathiesen
- recent developments in spatial (temporal) equilibrium models - non-linearity, existence and other issues, T. Takayama and T.C. MacAulay
- shadow pricing for natural resource goods and services, using the emergy method, G. Pillet. Part 2 Application of new methodologies to particular commodity markets (agricultural, mineral, and energy commodities): the effectiveness of the world coffee agreement - simulation study using a quarterly model of the world coffee market, F.C. Palm and B. Vogelvang
- modelling the world fibre market, M.E. Thigpen and D.O. Mitchell
- technical change, relative prices anf intermaterial substitution, T.J. Considine
- spectral interpretation of stock adjustment processes in mineral markets, A. Afriasabi, M. Moallem and W.C. Labys
- the linkages between the markets for petroleum products and the market for crude oil - an economic linear programming study, F.G. Adams, E.A. Kroch and Z.V. Didziulis
- modelling the international natural gas market - the case of the Western European natural gas market, J. Percebois, J.B. Lesourd and J.M. Ruiz. Part 3 Application of new methodologies to commodity future markets: dynamic welfare analysis and commodity futures markets overshooting, G.C. Rausser and N. Walraven
- when does the creation of a futures market destabilize the spot prices?, P. Artus
- the producer and futures markets, J.P. Daloz
- futures prices and hidden stocks of refined oil products, M.N. Lowry. Part 4 Application of new methodologies to other commodity market issues: post-recession commodity price formation, M.J. Lord
- tradeoffs between short-run stability and long-run risk when stabilizing a commodity market, B.L. Dixon and A.J. Hughes Hallett
- are commodity prices leading indicators of OECD prices?, M. Durand and S. Blondal
- conclusion, O. Guvenen, W.C. Labys and J.B. Lesourd.
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