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Handel auf Terminkontraktmärkten

  • 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
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    Handle: RePEc:wiw:wiwwuw:wuwp080
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    Web page: http://www.wu.ac.at/economics/en

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    1. 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 235-56, September.
    2. 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 413-34, October.
    3. Salant, Stephen W, 1976. "Hirshleifer on Speculation," The Quarterly Journal of Economics, MIT Press, vol. 90(4), pages 667-75, November.
    4. 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.
    5. Manfred Streit, 1980. "On the use of futures markets for stabilization purposes," Review of World Economics (Weltwirtschaftliches Archiv), Springer, vol. 116(3), pages 493-513, September.
    6. 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.
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