Interest Rates and Commodity Prices
The theory of storage and arbitrage approaches fully incorporate nominal interest rates in far-near commodity price spreads Alternative frameworks admit a relationship between interest rates and commodity own rates of interest and as a result the commodity price spread would not completely incorporate the nominal interest rate This study examines the Views on interest rate-commodlty price relationships, the potential role of nonneutralities, and empirical evidence on the relationships The evidence does not support the hypothesis of a close relationship between commodity own rates and the real interest rate
Volume (Year): (1989)
Issue (Month): 2 ()
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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.:
- Dusak, Katherine, 1973. "Futures Trading and Investor Returns: An Investigation of Commodity Market Risk Premiums," Journal of Political Economy, University of Chicago Press, vol. 81(6), pages 1387-1406, Nov.-Dec..
- Fama, Eugene F., 1984. "Forward and spot exchange rates," Journal of Monetary Economics, Elsevier, vol. 14(3), pages 319-338, November.
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