The Simple Economics of Commodity Price Speculation
The price of crude oil never exceeded $40 per barrel until mid-2004. By July 2008 it peaked at $145 and by late 2008 it fell to $30 before increasing to $110 in 2011. Are speculators partly to blame for these price changes? Using a simple model of supply and demand in the cash and storage markets, w...
| Main Authors: | , |
|---|---|
| Other Authors: | |
| Format: | Article |
| Language: | en_US |
| Published: |
American Economic Association
2017
|
| Online Access: | http://hdl.handle.net/1721.1/108833 https://orcid.org/0000-0002-7654-8641 https://orcid.org/0000-0001-8296-9875 |