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Supply flexibility and insurance under commodity market instability

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  • Richard Mash
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    Abstract

    The paper integrates the analysis of price volatility and supply instability for a commodity exporting country, adding consideration of the role of the non-tradables sector to the literature. The non-tradables sector plays a potentially significant role in changing the economy's response to instability and increases the returns from access to risk markets.

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    File URL: http://www.csae.ox.ac.uk/workingpapers/pdfs/9610text.pdf
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    Bibliographic Info

    Paper provided by Centre for the Study of African Economies, University of Oxford in its series CSAE Working Paper Series with number 1996-10.

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    Date of creation: 1996
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    Handle: RePEc:csa:wpaper:1996-10

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    1. Turnovsky, Stephen J & Shalit, Haim & Schmitz, Andrew, 1980. "Consumer's Surplus, Price Instability, and Consumer Welfare," Econometrica, Econometric Society, Econometric Society, vol. 48(1), pages 135-52, January.
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