Analisi fondamentale di mercato con aspettative razionali: un modello per il mercato delle materie prime

Federico Perali and Luca Pieroni

Rivista di Politica Economica, 2004, vol. 94, issue 2, 187-224

Abstract: The traditional method to describe commodity markets with rational expectations is to link commodity prices with market shocks both on the supply and demand side. This study extends the traditional approach by specifying both the price and stock paths in terms of short and long run demand excesses which describe the market fundamentals. The results obtained from the analysis of the US corn market are statistically robust and economically coherent.

JEL-codes: C32 D84 L11 (search for similar items in EconPapers)
Date: 2004
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