IDEAS home Printed from https://ideas.repec.org/a/ris/actuec/v53y1977i4p587-609.html
   My bibliography  Save this article

La stabilité des prix des ressources non renouvelables

Author

Listed:
  • McRae, James J.

    (Université de Guelph)

Abstract

One particular problem with the competitive solution to resource pricing is the potential for resource price instability. Using monthly data on prices for five different minerals the author examines, with the help of statistical techniques, the behaviour of prices over the years 1922-1974. He finds that fears of potential resource price instability have been overstated. Due either to the capitalization reactions of resource owners, or to the fact that resource markets are characterized by a monopolized industrial structure, real resource prices appear to show remarkable stability.

Suggested Citation

  • McRae, James J., 1977. "La stabilité des prix des ressources non renouvelables," L'Actualité Economique, Société Canadienne de Science Economique, vol. 53(4), pages 587-609, octobre.
    • Handle: RePEc:ris:actuec:v:53:y:1977:i:4:p:587-609
    as

    Download full text from publisher

    File URL: http://id.erudit.org/iderudit/800748ar
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. William D. Nordhaus, 1973. "The Allocation of Energy Resources," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 4(3), pages 529-576.
    2. Harold Hotelling, 1931. "The Economics of Exhaustible Resources," Journal of Political Economy, University of Chicago Press, vol. 39, pages 137-137.
    3. Gideon Rosenbluth, 1976. "Economists and the Growth Controversy," Canadian Public Policy, University of Toronto Press, vol. 2(2), pages 225-239, Spring.
    4. Working, Holbrook, 1967. "Tests of a Theory Concerning Floor Trading on Commodity Exchanges," Food Research Institute Studies, Stanford University, Food Research Institute, vol. 7(Supplemen), pages 1-44.
    5. Robert M. Solow, 1974. "The Economics of Resources or the Resources of Economics," Palgrave Macmillan Books, in: Chennat Gopalakrishnan (ed.), Classic Papers in Natural Resource Economics, chapter 12, pages 257-276, Palgrave Macmillan.
    6. McCulloch, J Hutson, 1975. "The Monte Carlo Cycle in Business Activity," Economic Inquiry, Western Economic Association International, vol. 13(3), pages 303-321, September.
    7. Working, Holbrook, 1974. "Measurement of Cycles in Speculative Prices," Food Research Institute Studies, Stanford University, Food Research Institute, vol. 13(1), pages 1-24.
    8. Larson, Arnold B., 1967. "Price Prediction on the Egg Futures Market," Food Research Institute Studies, Stanford University, Food Research Institute, vol. 7(Supplemen), pages 1-16.
    9. Richard L. Gordon, 1967. "A Reinterpretation of the Pure Theory of Exhaustion," Journal of Political Economy, University of Chicago Press, vol. 75, pages 274-274.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Gérard Gaudet, 2007. "Natural resource economics under the rule of Hotelling," Canadian Journal of Economics, Canadian Economics Association, vol. 40(4), pages 1033-1059, November.
    2. Devarajan, Shantayanan & Fisher, Anthony C, 1981. "Hotelling's "Economics of Exhaustible Resources": Fifty Years Later," Journal of Economic Literature, American Economic Association, vol. 19(1), pages 65-73, March.
    3. Stephen W. Salant, 1977. "Staving off the backstop: dynamic limit-pricing with a kinked demand curve," International Finance Discussion Papers 110, Board of Governors of the Federal Reserve System (U.S.).
    4. Beatriz Gaitan S. & Richard S.J. Tol & I. Hakan Yetkiner, 2006. "The Hotelling’s Rule Revisited in a Dynamic General Equilibrium Model," Papers of the Annual IUE-SUNY Cortland Conference in Economics, in: Oguz Esen & Ayla Ogus (ed.), Proceedings of the Conference on Human and Economic Resources, pages 213-238, Izmir University of Economics.
    5. Smith, James L., 2012. "On the portents of peak oil (and other indicators of resource scarcity)," Energy Policy, Elsevier, vol. 44(C), pages 68-78.
    6. Daniele Schilirò, 2019. "Sustainability, Innovation, and Efficiency: A Key Relationship," Palgrave Studies in Impact Finance, in: Magdalena Ziolo & Bruno S. Sergi (ed.), Financing Sustainable Development, chapter 0, pages 83-102, Palgrave Macmillan.
    7. Dorothée Charlier & Florian Fizaine, 2020. "Does Becoming Richer Lead to a Reduction in Natural Resource Consumption? An Empirical Refutation of the Kuznets Material Curve," Working Papers 2020.05, FAERE - French Association of Environmental and Resource Economists.
    8. Mircea Sˇveanu, 2014. "Energy and the Economics of Sustainability. The Entropy Paradox," Management of Sustainable Development, Sciendo, vol. 6(1), pages 1-5, August.
    9. Roger Fouquet, 2012. "Economics of Energy and Climate Change: Origins, Developments and Growth," Working Papers 2012-08, BC3.
    10. Faucheux, Sylvie & Froger, Geraldine & Noel, Jean-Francois, 1995. "What forms of rationality for sustainable development?," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 24(1), pages 169-209.
    11. Sweeney, James L., 1993. "Economic theory of depletable resources: An introduction," Handbook of Natural Resource and Energy Economics, in: A. V. Kneese† & J. L. Sweeney (ed.), Handbook of Natural Resource and Energy Economics, edition 1, volume 3, chapter 17, pages 759-854, Elsevier.
    12. Reynolds, Douglas B., 2013. "Uncertainty in exhaustible natural resource economics: The irreversible sunk costs of Hotelling," Resources Policy, Elsevier, vol. 38(4), pages 532-541.
    13. Pagoulatos, Angelos & Debertin, David L. & Pagoulatos, Emilio, 1978. "Government Price Policies And The Availability Of Crude Oil," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 3(1), pages 1-16, July.
    14. Earl Thompson, 2000. "Why World Oil Monopolization Lowers Oil Prices: A Theory of Involuntary Cartelization," International Journal of the Economics of Business, Taylor & Francis Journals, vol. 7(1), pages 63-78.
    15. Johannes Pfeiffer, 2017. "Fossil Resources and Climate Change – The Green Paradox and Resource Market Power Revisited in General Equilibrium," ifo Beiträge zur Wirtschaftsforschung, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, number 77.
    16. Davis B. Bobrow & Robert T. Kudrle, 1976. "Theory, Policy, and Resource Cartels," Journal of Conflict Resolution, Peace Science Society (International), vol. 20(1), pages 3-56, March.
    17. Gaitan, Beatriz & Tol, Richard S.J. & Yetkiner, I. Hakan, 2004. "The Optimal Depletion Of An Exhautible Resource In A Dynamic General Equilibrium Model," 2004 Annual meeting, August 1-4, Denver, CO 20207, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    18. Gérard Gaudet & Stephen W. Salant, 2018. "Modeling Nonrenewable Resources Use with Multiple Demands and Multiple Sources," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 70(4), pages 737-755, August.
    19. Earl A. Thompson, 1995. "Why World Oil Monopolization Lowers Oil Prices: A Theory of Involuntary Cartelization," UCLA Economics Working Papers 746, UCLA Department of Economics.
    20. Dale W. Henderson & Stephen W. Salant, 1976. "Market anticipations, government policy, and the price of gold," International Finance Discussion Papers 81, Board of Governors of the Federal Reserve System (U.S.).

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ris:actuec:v:53:y:1977:i:4:p:587-609. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Benoit Dostie (email available below). General contact details of provider: https://edirc.repec.org/data/scseeea.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.