全球智库信息集成服务系统(G2TT): Informational Frictions and Commodity Markets

G2TT

来源类型	Working Paper
规范类型	报告
DOI	10.3386/w18906
来源ID	Working Paper 18906
	Informational Frictions and Commodity Markets
	Michael Sockin; Wei Xiong
发表日期	2013-03-21
出版年	2013
语种	英语
摘要	This paper develops a model to analyze information aggregation in commodity markets. Through centralized trading, commodity prices aggregate dispersed information about the strength of the global economy among goods producers whose production has complementarity, and serve as price signals to guide producers' production decisions and commodity demand. Our analysis highlights important feedback effects of informational noise originating from supply shocks and futures market trading on commodity demand and spot prices, which are ignored by existing empirical studies and policy discussions.
主题	International Economics ; International Finance ; Financial Economics ; Financial Markets
URL	https://www.nber.org/papers/w18906
来源智库	National Bureau of Economic Research (United States)
引用统计
资源类型	智库出版物
条目标识符	http://119.78.100.153/handle/2XGU8XDN/576581
推荐引用方式 GB/T 7714	Michael Sockin,Wei Xiong. Informational Frictions and Commodity Markets. 2013.