| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w19670 |
| 来源ID | Working Paper 19670 |
| Why Do Hedgers Trade So Much? | |
| Ing-Haw Cheng; Wei Xiong | |
| 发表日期 | 2013-11-21 |
| 出版年 | 2013 |
| 语种 | 英语 |
| 摘要 | Futures positions of commercial hedgers in wheat, corn, soybeans and cotton fluctuate much more than expected output. Hedgers' short positions are positively correlated with price changes. Together, these observations raise doubt about the common practice of categorically classifying trading by hedgers as hedging while trading by speculators as speculation, as hedgers frequently change their futures positions over time for reasons unrelated to output fluctuations, arguably a form of speculation. |
| 主题 | Financial Economics ; Financial Markets |
| URL | https://www.nber.org/papers/w19670 |
| 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/577345 |
| 推荐引用方式 GB/T 7714 | Ing-Haw Cheng,Wei Xiong. Why Do Hedgers Trade So Much?. 2013. |
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