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Speculation, Embedding, and Food Prices: A Cointegration Analysis

A. Jason Windawi

Title:
Speculation, Embedding, and Food Prices: A Cointegration Analysis
Author(s):
Windawi, A. Jason
Date:
Type:
Working papers
Department:
Institute for Social and Economic Research and Policy
Permanent URL:
Series:
ISERP Working Papers
Part Number:
2012.02
Publisher:
Institute for Social and Economic Research and Policy, Columbia University
Publisher Location:
New York
Abstract:
The disparity between massive volatility in food prices and relatively slow changes in agricultural supply and demand since the beginning of the food crisis in 2007 has focused attention on the potential effects of financial speculators in food markets. The challenge of identifying the effects of such speculators has been complicated by a number of factors, key among which has been the criteria used to define speculative activity. This paper provides a more targeted analysis of one particular kind of speculator, and builds on a combination of sociological and econometric analysis to identify their presence in commodity markets during the food crisis.
Subject(s):
Economics
Item views:
336
Metadata:
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