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Treiben Indexfonds Agrarrohstoffpreise? Nein!

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  • Bohl Martin T.

    (Lehrstuhl für Volkswirtschaftslehre, insbesondere Monetäre Ökonomie, Westfälische Wilhelms-Universität Münster, Am Stadtgraben 9, 48143 Münster)

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Suggested Citation

  • Bohl Martin T., 2016. "Treiben Indexfonds Agrarrohstoffpreise? Nein!," Perspektiven der Wirtschaftspolitik, De Gruyter, vol. 17(2), pages 155-171, July.
    • Handle: RePEc:bpj:pewipo:v:17:y:2016:i:2:p:155-171:n:3
    DOI: 10.1515/pwp-2016-0011
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    References listed on IDEAS

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    1. Ing-Haw Cheng & Wei Xiong, 2014. "Financialization of Commodity Markets," Annual Review of Financial Economics, Annual Reviews, vol. 6(1), pages 419-441, December.
    2. Büyükşahin, Bahattin & Robe, Michel A., 2014. "Speculators, commodities and cross-market linkages," Journal of International Money and Finance, Elsevier, vol. 42(C), pages 38-70.
    3. Christopher L. Gilbert, 2010. "How to Understand High Food Prices," Journal of Agricultural Economics, Wiley Blackwell, vol. 61(2), pages 398-425, June.
    4. Bikhchandani, Sushil & Hirshleifer, David & Welch, Ivo, 1992. "A Theory of Fads, Fashion, Custom, and Cultural Change in Informational Cascades," Journal of Political Economy, University of Chicago Press, vol. 100(5), pages 992-1026, October.
    5. Belke, Ansgar & Bordon, Ingo G. & Volz, Ulrich, 2013. "Effects of Global Liquidity on Commodity and Food Prices," World Development, Elsevier, vol. 44(C), pages 31-43.
    6. repec:zbw:rwirep:0323 is not listed on IDEAS
    7. Louis Ederington & Jae Ha Lee, 2002. "Who Trades Futures and How: Evidence from the Heating Oil Futures Market," The Journal of Business, University of Chicago Press, vol. 75(2), pages 353-374, April.
    8. Gunther Capelle-Blancard & Dramane Coulibaly, 2011. "Index trading and agricultural commodity prices: A panel Granger causality analysis," International Economics, CEPII research center, issue 126-127, pages 51-71.
    9. Bohl, Martin T. & Ott, Hervé & Ledebur, Oliver von, 2015. "Kurzfristige Dynamik von Preisbildungsprozessen deutscher Agrarrohstoffe [Short-run dynamics in German agricultural commodity prices]," Thünen Reports 28, Johann Heinrich von Thünen Institute, Federal Research Institute for Rural Areas, Forestry and Fisheries.
    10. repec:cii:cepiei:2011-q2-3-126-127-4 is not listed on IDEAS
    11. De Long, J Bradford, et al, 1990. "Positive Feedback Investment Strategies and Destabilizing Rational Speculation," Journal of Finance, American Finance Association, vol. 45(2), pages 379-395, June.
    12. Adämmer, Philipp & Bohl, Martin T. & von Ledebur, Oliver, 2014. "Die Bedeutung von Agrarterminmärkten als Absicherungsinstrument für die deutsche Landwirtschaft," Thünen Reports 14, Johann Heinrich von Thünen Institute, Federal Research Institute for Rural Areas, Forestry and Fisheries.
    13. Granger, C W J, 1969. "Investigating Causal Relations by Econometric Models and Cross-Spectral Methods," Econometrica, Econometric Society, vol. 37(3), pages 424-438, July.
    14. Luciano Gutierrez, 2013. "Speculative bubbles in agricultural commodity markets-super- †," European Review of Agricultural Economics, Oxford University Press and the European Agricultural and Applied Economics Publications Foundation, vol. 40(2), pages 217-238, March.
    15. Scott H. Irwin, 2013. "Commodity index investment and food prices: does the “Masters Hypothesis” explain recent price spikes?," Agricultural Economics, International Association of Agricultural Economists, vol. 44(s1), pages 29-41, November.
    16. Adämmer, Philipp & Bohl, Martin T., 2015. "Speculative bubbles in agricultural prices," The Quarterly Review of Economics and Finance, Elsevier, vol. 55(C), pages 67-76.
    17. Xiaoli L. Etienne & Scott H. Irwin & Philip Garcia, 2015. "Price Explosiveness, Speculation, and Grain Futures Prices," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 97(1), pages 65-87.
    18. Bohl, Martin T & Ott, Hervé & Ledebur, Ernst-Oliver von, 2015. "Kurzfristige Dynamik von Preisbildungsprozessen deutscher Agrarrohstoffe," Thünen Report 207898, Johann Heinrich von Thünen-Institut (vTI), Federal Research Institute for Rural Areas, Forestry and Fisheries.
    19. Dwight R. Sanders & Scott H. Irwin, 2010. "A speculative bubble in commodity futures prices? Cross‐sectional evidence," Agricultural Economics, International Association of Agricultural Economists, vol. 41(1), pages 25-32, January.
    20. Valentina G. Bruno & Bahattin Büyükşahin & Michel A. Robe, 2017. "The Financialization of Food?," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 99(1), pages 243-264.
    21. Irwin, Scott H. & Sanders, Dwight R., 2012. "Testing the Masters Hypothesis in commodity futures markets," Energy Economics, Elsevier, vol. 34(1), pages 256-269.
    22. John R. Nofsinger & Richard W. Sias, 1999. "Herding and Feedback Trading by Institutional and Individual Investors," Journal of Finance, American Finance Association, vol. 54(6), pages 2263-2295, December.
    23. Ansgar Belke & Ingo Bordon & Ulrich Volz, 2012. "Effects of Global Liquidity on Commodity and Food Prices," Ruhr Economic Papers 0323, Rheinisch-Westfälisches Institut für Wirtschaftsforschung, Ruhr-Universität Bochum, Universität Dortmund, Universität Duisburg-Essen.
    24. Ibragimov, Rustam & Müller, Ulrich K., 2010. "t-Statistic Based Correlation and Heterogeneity Robust Inference," Journal of Business & Economic Statistics, American Statistical Association, vol. 28(4), pages 453-468.
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    Cited by:

    1. Pies, Ingo, 2022. "Wie (un)moralisch ist Agrarspekulation?," Discussion Papers 2022-17, Martin Luther University of Halle-Wittenberg, Chair of Economic Ethics.
    2. Pies, Ingo, 2022. "Hunger durch Agrarspekulation? Lessons (not) learned," Discussion Papers 2022-15, Martin Luther University of Halle-Wittenberg, Chair of Economic Ethics.

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    More about this item

    Keywords

    Agrarrohstoffe; Indexfonds; Preisdruckhypothese; Futuremärkte;
    All these keywords.

    JEL classification:

    • G10 - Financial Economics - - General Financial Markets - - - General (includes Measurement and Data)
    • Q14 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Agricultural Finance

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