| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w20974 |
| 来源ID | Working Paper 20974 |
| Hoard Behavior and Commodity Bubbles | |
| Harrison Hong; Áureo de Paula; Vishal Singh | |
| 发表日期 | 2015-03-02 |
| 出版年 | 2015 |
| 语种 | 英语 |
| 摘要 | Hoarding by large speculators is often blamed for contributing to commodity market panics and bubbles. Using supermarket scanner data on US household purchases during the 2008 Rice Bubble, we show that hoarding is in fact more systemic, affecting even households who have no resale motive. Export bans led to a spike in prices worldwide in the first half of 2008, which spilled over into US markets. Anticipating shortages, US households with previous purchases of rice, especially those of Asian ethnicity, nearly doubled their buying around the peak of the bubble. We document transmission mechanisms through over-extrapolation from high prices and contagion, as many households bought rice for the first and last time during the bubble. |
| 主题 | Financial Economics |
| URL | https://www.nber.org/papers/w20974 |
| 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/578649 |
| 推荐引用方式 GB/T 7714 | Harrison Hong,Áureo de Paula,Vishal Singh. Hoard Behavior and Commodity Bubbles. 2015. |
| 条目包含的文件 | 条目无相关文件。 | |||||
除非特别说明，本系统中所有内容都受版权保护，并保留所有权利。
