Supply flexibility and insurance under commodity market instability
AbstractThe 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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Bibliographic InfoPaper provided by Centre for the Study of African Economies, University of Oxford in its series CSAE Working Paper Series with number 1996-10.
Date of creation: 1996
Date of revision:
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- Turnovsky, Stephen J & Shalit, Haim & Schmitz, Andrew, 1980. "Consumer's Surplus, Price Instability, and Consumer Welfare," Econometrica, Econometric Society, vol. 48(1), pages 135-52, January.
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