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Market incompleteness. The benefits of OTC contracts derived or not from futures markets

Author

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  • Jean Cordier

    (SMART-LERECO - Structures et Marché Agricoles, Ressources et Territoires - INRA - Institut National de la Recherche Agronomique - AGROCAMPUS OUEST)

Abstract

Le risque agricole porte sur deux horizons, celui du cycle de production et celui du cycle d'investissement. La gestion du risque prix sur cycle de production est basée sur les marchés à terme. L'incomplétude des marchés à terme nécessite une action publique, tout particulièrement sur le développement de l'information de marché physique. La gestion du risque sur cycle d'investissement nécessite le développement du marché OTC pluriannuel, en particulier des swaps de prix et de marge. L'action publique doit alors porter sur la qualité des indices de prix de marché et de coûts de production.

Suggested Citation

  • Jean Cordier, 2018. "Market incompleteness. The benefits of OTC contracts derived or not from futures markets," Post-Print hal-02068382, HAL.
    • Handle: RePEc:hal:journl:hal-02068382
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    Keywords

    horizon; risque; marché OTC;
    All these keywords.

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