Market power and primary commodity prices: the case of copper
AbstractThis study identifies the economic fundamentals of the evolution of copper price. Its main hypothesis is that copper price is mainly determined by the evolution of demand of countries with large market power on that market. The novelty is that nominal exchange rates are one of the fundamentals of market power. Monthly data are used ranging from 1994 to 2003 and by means of a cointegration analysis; it is found that the Asian bloc significantly affects the price of this tradable good.
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Bibliographic InfoArticle provided by Taylor & Francis Journals in its journal Applied Economics Letters.
Volume (Year): 14 (2007)
Issue (Month): 10 ()
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Other versions of this item:
- Rodrigo Cerda, 2005. "Market Power and Primary Commodity Prices: The Case of Copper," Documentos de Trabajo 282, Instituto de Economia. Pontificia Universidad Católica de Chile..
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