000091283 001__ 91283
000091283 005__ 20180122213059.0
000091283 037__ $$a959-2016-74883
000091283 041__ $$aen
000091283 245__ $$aCOMMODITY INDEX FUNDS AND PRICE SWINGS: CONDITIONS OF CAUSALITY
000091283 260__ $$c2010
000091283 269__ $$a2010
000091283 270__ $$mAlexandre.gohin@rennes.inra.fr$$pGohin,   Alexandre
000091283 270__ $$mcordier@agrocampus.ouest.fr$$pCordier,   Jean
000091283 300__ $$a19
000091283 336__ $$aConference Paper/ Presentation
000091283 520__ $$aThe role played by “speculators” during the 2007/08 food price spike is lively disputed. Our analysis focuses on the increasing participation of index funds in agricultural commodity futures markets before the food price spike. Our central theme is to determine if their prespike massive entry does prepare the subsequent crisis by maintaining low stock levels. We develop a theoretical model explaining the behaviour of speculators and traders on futures and
cash markets. We allow index funds to inflict an informational externality on commercial traders that is supposed to induce a lower desire to hold stock. We find out that, once the production decisions of commercial traders are taken into account into the model, the increased net long position of index funds is inconsistent with lower stocks. We therefore conclude that commodity index funds are not a systematic cause of high market swings and that other relevant causes should be further studied.
000091283 542__ $$fLicense granted by Melanie Chadeayne (iatrc2010@uni-hohenheim.de) on 2010-06-21T19:23:42Z (GMT):

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000091283 650__ $$aFood Consumption/Nutrition/Food Safety
000091283 650__ $$aRisk and Uncertainty
000091283 6531_ $$aFutures markets
000091283 6531_ $$acommodity price
000091283 6531_ $$aindex funds
000091283 6531_ $$astocks
000091283 700__ $$aGohin, Alexandre
000091283 700__ $$aCordier, Jean
000091283 8564_ $$s144332$$uhttps://ageconsearch.umn.edu/record/91283/files/Gohin_et_al._IATRC_Summer_2010.pdf
000091283 887__ $$ahttp://purl.umn.edu/91283
000091283 909CO $$ooai:ageconsearch.umn.edu:91283$$pGLOBAL_SET
000091283 912__ $$nSubmitted by Melanie Chadeayne (iatrc2010@uni-hohenheim.de) on 2010-06-21T19:32:04Z
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  Previous issue date: 2010
000091283 982__ $$gInternational Agricultural Trade Research Consortium>Proceedings Issues>2010: Climate Change in World Agriculture: Mitigation, Adaptation, Trade and Food Security, June 2010, Stuttgart-Hohenheim, Germany
000091283 980__ $$a959