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Handel auf Terminkontraktmärkten

Listed author(s):
  • Maria Stückler


    (Department of Economics, Vienna University of Economics & B.A.)

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    Commodity prices are significantly more volatile than prices of industrial products. This extreme price instability establishes a need for futures markets in commodities. The main functions of futures trading being hedging against, and speculation on price fluctuations; and it is hedging, that determines the role of speculation.

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    Paper provided by Vienna University of Economics and Business, Department of Economics in its series Department of Economics Working Papers with number wuwp080.

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    Date of creation: Jul 2002
    Handle: RePEc:wiw:wiwwuw:wuwp080
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    1. repec:hrv:faseco:33077905 is not listed on IDEAS
    2. Shleifer, Andrei & Summers, Lawrence H, 1990. "The Noise Trader Approach to Finance," Journal of Economic Perspectives, American Economic Association, vol. 4(2), pages 19-33, Spring.
    3. Ronald W. Ward & Lehman B. Fletcher, 1971. "From Hedging to Pure Speculation: A Micro Model of Optimal Futures and Cash Market Positions," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 53(1), pages 71-78.
    4. Moore, Michael J & Cullen, Ursula, 1995. "Speculative Efficiency on the London Metal Exchange," The Manchester School of Economic & Social Studies, University of Manchester, vol. 63(3), pages 235-256, September.
    5. Stephen W. Salant, 1976. "Hirshleifer on Speculation," The Quarterly Journal of Economics, Oxford University Press, vol. 90(4), pages 667-675.
    6. Yamey, B S, 1971. "Short Hedging and Long Hedging in Futures Markets: Symmetry and Asymmetry," Journal of Law and Economics, University of Chicago Press, vol. 14(2), pages 413-434, October.
    7. Logan, Samuel H. & Bullock, J. Bruce, 1970. "Speculation in Commodity Futures: An Application of Statistical Decision Theory," Agricultural Economics Research, United States Department of Agriculture, Economic Research Service, issue 4.
    8. Manfred Streit, 1980. "On the use of futures markets for stabilization purposes," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 116(3), pages 493-513, September.
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