The Effects of Economic Newson Commodity Prices

Is Gold Just Another Commodity?

Author: Shaun K. Roache,Mr. Marco Rossi

Publisher: International Monetary Fund

ISBN: 1452724849

Category: Business & Economics

Page: 28

View: 5422

The paper uses an event study methodology to investigate which and how macroeconomic announcements affect commodity prices. Results show that gold is unique among commodities, with prices reacting to specific scheduled announcements in the United States and the Euro area (such as indicators of activity or interest rate decisions) in a manner consistent with gold''s traditional role as a safe-haven and store of value. Other commodity prices, where such news is significant, exhibit pro-cyclical sensitivities and these have risen somewhat as commodities have become increasingly financialized. These results are important for those trading in the commodity markets on a frequent basis and long-term market participants that take their decisions based on information on price fundamentals, which are reflected in the release of macroeconomic announcements.

The Economics of Commodity Markets

Author: Julien Chevallier,Florian Ielpo

Publisher: John Wiley & Sons

ISBN: 1119945402

Category: Business & Economics

Page: 360

View: 7826

As commodity markets have continued their expansion an extensive and complex financial industry has developed to service them. This industry includes hundreds of participating firms, including asset managers, brokers, consultants, verification agencies and a myriad of other institutions. Universities and other training institutions have responded to this rapid expansion of commodity markets as well as their substantial future growth potential by launching specialized courses on the subject. The Economics of Commodity Markets attempts to bridge the gap between academics and working professionals by way of a textbook that is both theoretically informative and practical. Based in part on the authors’ teaching experience of commodity finance at the University Paris Dauphine, the book covers all important commodity markets topics and includes coverage of recent topics such as financial applications and intuitive economic reasoning. The book is composed of three parts that cover: commodity market dynamics, commodities and the business cycle, and commodities and fundamental value. The key original approach to the subject matter lies in a shift away from the descriptive to the econometric analysis of commodity markets. Information on market trends of commodities is presented in the first part, with a strong emphasis on the quantitative treatment of that information in the remaining two parts of the book. Readers are provided with a clear and succinct exposition of up-to-date financial economic and econometric methods as these apply to commodity markets. In addition a number of useful empirical applications are introduced and discussed. This book is a self-contained offering, discussing all key methods and insights without descending into superfluous technicalities. All explanations are structured in an accessible manner, permitting any reader with a basic understanding of mathematics and finance to work their way through all parts of the book without having to resort to external sources.

China's Footprint in Global Commodity Markets

Author: Ms.Christina Kolerus,Mr.Papa M N'Diaye,Christian Saborowski

Publisher: International Monetary Fund

ISBN: 1475542070

Category: Business & Economics

Page: 24

View: 3071

This note assesses empirically the role Chinese activity plays in global commodities markets, showing that the strength of China’s economic activity has a significant bearing on commodity prices, but that the impact differs across commodity markets, with industrial production shocks having a substantial impact on metals and crude oil prices and less so on food prices. The size of the impact on the prices of specific commodities varies with China’s footprint in the market for those commodities; the empirical estimates indicate that, over a one-year horizon, a 1 percent increase in industrial production leads to a 5–7 percent rise in metals and fuel prices. The surprise component in Chinese industrial production announcements has a bearing on commodity prices that is comparable in magnitude to that of industrial production surprises in the United States, and this impact is much larger when global risk aversion is high.

Imf Research Bulletin, September 2009

Author: N.A

Publisher: International Monetary Fund

ISBN: 1451975058

Category: Business & Economics

Page: 12

View: 9928

The Q&A in this issue features seven questions about policy options for emerging market countries (by Marcos Chamon, Chris Crowe, and Jun Il Kim); research summaries on "Does Trade and Financial Globalization Cause Income Inequality?" (by Chris Papageorgiou) and "The Current Account of Oil-Exporting Countries (by Irineu E. de Carvalho Filho); an article on the launch of the IMF's new research journal, IMF Economic Review, and the contents of the upcoming IMF Staff Papers, which the new the new journal will succeed in 2010; an article on the upcoming Tenth Annual Jacques Polak Research Conference; a listing of visiting scholars at the IMF during July-September 2009; and listings of recent IMF Working Papers and Staff Position Notes.

Islamic Asset Management

Author: Natalie Schoon

Publisher: Edinburgh University Press

ISBN: 0748687459

Category: Business & Economics

Page: 184

View: 5322

A clear overview of the Islamic asset management marketplace

Macroeconomic News Effects in Commodity Futures and German Stock and Bond Futures Markets

Author: He Huang

Publisher: BoD – Books on Demand

ISBN: 3899368924

Category: Business & Economics

Page: 220

View: 8582

A well-known concept in modern capital market theory is that only systematic risk factors affect security prices. Macroeconomic announcements are among the most important news for financial markets because the state of the economy is a prime candidate for such a source of non-diversifiable risk. This book investigates the effects of US macroeconomic news on three financial markets that have received less attention in the literature so far. The markets of interest are the commodity futures market, the German stock index futures market, and the German bond futures market. I investigate not only price effects, but also liquidity effects as well as the channels of cross-border information flow. I find that commodity markets as well as international stock and bond markets are likewise affected by the release of US macroeconomic news. The strength of the commodity price response depends on the state of the economy and news about the US economy is more important for German stock markets than domestic economic news. For an investor in any of these markets, this book provides valuable information on how to adjust his trading strategies around the release of macroeconomic news. Moreover, my findings contribute to the understanding of cross-border information flow. First, I find that both domestic and foreign economic news induce significant price and liquidity effects. Second, I find that there are two important channels of information transmission for foreign news: the direct response to the news and the indirect response to the foreign response to the news.

Food, People and Society

A European Perspective of Consumers' Food Choices

Author: Lynn J. Frewer,Einar Risvik,Hendrik Schifferstein

Publisher: Springer Science & Business Media

ISBN: 9783540415213

Category: Business & Economics

Page: 462

View: 2982

Food consumption is vital to human survival. Nevertheless, the exact determi nants of food perception, liking and food choice are still not fully understood. Food, People and Society tries to fill some of the gaps in our knowledge by stud ying these processes from multiple perspectives, each with their own emphasis. Some approaches focus mainly on the characteristics of food products eaten, some focus on the person who eats a particular food, whereas other approaches emphasize the psychological, economic or social context in which food con sumption takes place. By bringing together these different approaches in one book, we open the opportunity to integrate different perspectives and to facili tate comprehension of the complex processes that drive food choice behaviour. Food, People and Society is written for a wide audience, including students and academics interested in food perception and consumption, policy makers, health educators and nutritionists, food manufacturers and food marketers.

Investing in Commodities

Author: Tom Lydon

Publisher: Pearson Education

ISBN: 0132467348

Category: Business & Economics

Page: 10

View: 2791

This Element is an excerpt from The ETF Trend Following Playbook: Profiting from Trends in Bull or Bear Markets with Exchange Traded Funds (ISBN: 9780137029013) by Tom Lydon. Available in print and digital formats. Discover the easiest way to profit from the next bull market in commodities: ETFs. Commodities rarely correlate perfectly to the world’s stock markets. Because commodities operate along their own individual trends and are now available in ETFs, they can make excellent additions to any portfolio. You now have many options for participating in a commodities bull market.

Asset Prices and Monetary Policy

Author: John Y. Campbell

Publisher: University of Chicago Press

ISBN: 0226092127

Category: Business & Economics

Page: 392

View: 9936

Economic growth, low inflation, and financial stability are among the most important goals of policy makers, and central banks such as the Federal Reserve are key institutions for achieving these goals. In Asset Prices and Monetary Policy, leading scholars and practitioners probe the interaction of central banks, asset markets, and the general economy to forge a new understanding of the challenges facing policy makers as they manage an increasingly complex economic system. The contributors examine how central bankers determine their policy prescriptions with reference to the fluctuating housing market, the balance of debt and credit, changing beliefs of investors, the level of commodity prices, and other factors. At a time when the public has never been more involved in stocks, retirement funds, and real estate investment, this insightful book will be useful to all those concerned with the current state of the economy.

The Latin American Competitiveness Report, 2001-2002

Author: Joaquín Vial

Publisher: Oxford University Press, USA

ISBN: 9780195152562

Category: Business & Economics

Page: 213

View: 3037

This report gives an in-depth look at the major factors influencing competitiveness in Latin America, trying to assess the position of these countries, as well as indicating policies and actions to be promoted to improve their current situation.

The Rice Crisis

Markets, Policies and Food Security

Author: David Charles Dawe

Publisher: Vietnamica Monitor

ISBN: 1849711348

Category: Business & Economics

Page: 368

View: 2945

Based on papers presented at a workshop organized by FAO in Chiang Mai, Thailand, Feb. 9-12, 2009.