This file is part of IDEAS , which uses RePEc data
[ Papers |
Articles |
Software |
Books |
Chapters |
Authors |
Institutions |
JEL Classification |
NEP reports |
Search |
New papers by email |
Author registration |
Rankings |
Volunteers |
FAQ |
Blog |
Help! ]
Equilibrium Storage in a Markov Economy Author info | Abstract | Publisher info | Download info | Related research | Statistics Creti, Anna
Villeneuve, Bertrand
Additional information is available for the following
registered author(s):
We model an economy that alternates randomly between abundance and scarcity episodes. We develop an original method to characterize in detail the structure of the Markovian competitive equilibrium. Accumulation and drainage of stocks are the main focuses. Economically appealing comparative statics results are proved. We also characterize stationary distribution of states. We extend the model to discuss price stabilization policies, injection and release costs, and limited storage capacity. Overall, the analysis delineates the notion of “flexible economy.”
To download:
If you experience problems downloading a file, check if you have the
proper application to
view it first. Information about this may be contained
in the File-Format links below. In case of further problems read
the IDEAS help
page . Note that these files are not on the IDEAS
site. Please be patient as the files may be large.
Paper provided by University Library of Munich, Germany in its series MPRA Paper with number
11944.
Download reference. The following formats are available: HTML
(with abstract ),
plain text
(with abstract ),
BibTeX ,
RIS (EndNote, RefMan, ProCite),
ReDIF
Length:
Date of creation: 10 Apr 2008Date of revision:
Handle: RePEc:pra:mprapa:11944Contact details of provider: Postal: Schackstr. 4, D-80539 Munich, Germany Phone: +49-(0)89-2180-2219 Fax: +49-(0)89-2180-3900 Web page: http://mpra.ub.uni-muenchen.de More information through EDIRC
For technical questions regarding this item, or to correct its listing, contact: (Ekkehart Schlicht).
Keywords: Price stabilization ; strategic stocks ; supply risk ; Find related papers by JEL classification: Q48 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Government Policy L90 - Industrial Organization - - Industry Studies: Transportation and Utilities - - - General C61 - Mathematical and Quantitative Methods - - Mathematical Methods and Programming - - - Optimization Techniques; Programming Models; Dynamic Analysis
This paper has been announced in the following NEP Reports :
References listed on IDEAS Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile , click on "citations" and make appropriate adjustments.: Hillman, Arye L & Long, Ngo Van, 1983.
"Pricing and Depletion of an Exhaustible Resource When There Is Anticipation of Trade Disruption ,"
The Quarterly Journal of Economics ,
MIT Press, vol. 98(2), pages 215-33, May.
[Downloadable!] (restricted)
Bryan R. Routledge & Duane J. Seppi & Chester S. Spatt, 2000.
"Equilibrium Forward Curves for Commodities ,"
Journal of Finance ,
American Finance Association, vol. 55(3), pages 1297-1338, 06.
[Downloadable!] (restricted)
Other versions: Sweeney, James L, 1977.
"Economics of Depletable Resources: Market Forces and Intertemporal Bias ,"
Review of Economic Studies ,
Blackwell Publishing, vol. 44(1), pages 125-41, February.
[Downloadable!] (restricted)
Turnovsky, Stephen J, 1976.
"The Distribution of Welfare Gains from Price Stabilization: The Case of Multiplicative Disturbances ,"
International Economic Review ,
Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 17(1), pages 133-48, February.
[Downloadable!] (restricted)
Hennessy, David A. & Roosen, Jutta, 2000.
"Stochastic Pollution, Permits, and Merger Incentives ,"
Staff General Research Papers
1700, Iowa State University, Department of Economics.
Other versions:
Hennessy, David A. & Roosen, Jutta, 1999.
"Stochastic Pollution, Permits, and Merger Incentives ,"
Journal of Environmental Economics and Management ,
Elsevier, vol. 37(3), pages 211-232, May.
[Downloadable!] (restricted) Albert L. Nichols & Richard J. Zeckhauser, 1977.
"Stockpiling Strategies and Cartel Prices ,"
Bell Journal of Economics ,
The RAND Corporation, vol. 8(1), pages 66-96, Spring.
[Downloadable!] (restricted)
Devarajan, Shantayanan & Weiner, Robert J., 1989.
"Dynamic policy coordination: Stockpiling for energy security ,"
Journal of Environmental Economics and Management ,
Elsevier, vol. 16(1), pages 9-22, January.
[Downloadable!] (restricted)
Chambers, Marcus J & Bailey, Roy E, 1996.
"A Theory of Commodity Price Fluctuations ,"
Journal of Political Economy ,
University of Chicago Press, vol. 104(5), pages 924-57, October.
[Downloadable!] (restricted)
Other versions: Deaton, Angus & Laroque, Guy, 1992.
"On the Behaviour of Commodity Prices ,"
Review of Economic Studies ,
Blackwell Publishing, vol. 59(1), pages 1-23, January.
[Downloadable!] (restricted)
Other versions:
Deaton, A. & Laroque, G., 1989.
"On The Behavior Of Commodity Prices ,"
Papers
145, Princeton, Woodrow Wilson School - Public and International Affairs.
Deaton, A. & Laroque, G., 1989.
"On The Behavior Of Commodity Prices ,"
Papers
145, Princeton, Woodrow Wilson School - Development Studies.
Angus Deaton & Guy Laroque, 1990.
"On The Behavior of Commodity Prices ,"
NBER Working Papers
3439, National Bureau of Economic Research, Inc.
[Downloadable!] (restricted) Baldursson, Fridrik M & von der Fehr, N.-H.M.Nils-Henrik M, 2004.
"Price volatility and risk exposure: on market-based environmental policy instruments ,"
Journal of Environmental Economics and Management ,
Elsevier, vol. 48(1), pages 682-704, July.
[Downloadable!] (restricted)
Hallett, A. J. Hughes, 1984.
"Optimal stockpiling in a high-risk commodity market the case of copper ,"
Journal of Economic Dynamics and Control ,
Elsevier, vol. 8(2), pages 211-238, November.
[Downloadable!] (restricted)
Deaton, Angus & Laroque, Guy, 1996.
"Competitive Storage and Commodity Price Dynamics ,"
Journal of Political Economy ,
University of Chicago Press, vol. 104(5), pages 896-923, October.
[Downloadable!] (restricted)
Edwards, R T & Hallwood, C P, 1980.
"The Determination of Optimum Buffer Stock Intervention Rules ,"
The Quarterly Journal of Economics ,
MIT Press, vol. 94(1), pages 151-66, February.
[Downloadable!] (restricted)
repec:mop:credwp:06.02.63 is not listed on IDEAS
William W. Hogan, 1983.
"Oil Stockpiling: Help Thy Neighbor ,"
The Energy Journal ,
International Association for Energy Economics, vol. 4(3), pages 49-72.
Full
references
Access and
download statistics Did you know? To receive notification of recent additions to the database, subscribe to the free NEP reports .
This page was last updated on 2009-12-23.
This information is provided to you by IDEAS at the Department of Economics , College of Liberal Arts and Sciences , University of Connecticut using RePEc data on a server sponsored by the Society for Economic Dynamics .