Commodity Modeling and Pricing: Methods for Analyzing Resource Market Behavior

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John Wiley & Sons, Oct 6, 2008 - Business & Economics - 298 pages
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Commodity Modeling and Pricing provides extensions and applications of state-of-the-art methods for analyzing resource commodity behavior. Drawing from the seminal work of Professor Walter Labys on the development of econometric methods for forecasting commodity prices, this collection of essays features expert contributors ranging from practitioners in private industry, public sector, and nongovernmental organizations to scholars in higher education–all of whom were Labys's former students or collaborators. Filled with in-depth insights and expert advice, Commodity Modeling and Pricing contains the information you need to excel in this demanding environment.
 

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Contents

INTRODUCTION
ALMOST SURE CONSISTENCY OF THE NLS ESTIMATOR FROM OUR TRUNCATED MODEL
IDENTIFICATION AND ESTIMATION OF THE TRUNCATED LONG MEMORY PROCESS
INFORMAL PROOF OF THE CONVERGENCE OF THE ABOVE ESTIMATION PROCEDURE
APPLICATIONS
CONCLUSIONS
PROOF OF CONSISTENCY OF THE ESTIMATOR D
REFERENCES
REFERENCES
WINE DATA REFERENCES
INTRODUCTION
CONCLUSIONS
INTRODUCTION
SMITH‚ S RENTMINIMIZATION SPATIAL EQUILIBRIUM MODEL
SIMULATED RESULTS OF THE US COAL MARKET
CONCLUSIONS

INTRODUCTION
COMMODITY PRICES AND BUSINESS CYCLES
EMPIRICAL PROCEDURE
EMPIRICAL EVIDENCE
CONCLUSIONS
REFERENCES
INTRODUCTION
HRISTUVARSAKELIS AND KYRTSOU NONLINEAR GRANGER CAUSALITY TEST 2006
DATA DESCRIPTION AND EMPIRICAL RESULTS
CONCLUSIONS
PRICE SERIES USED
REFERENCES
INTRODUCTION
PREVIOUS RESEARCH
EVALUATING THE COINTEGRATING RELATIONSHIP
EVALUATING THE CAUSAL RELATIONSHIP
CONCLUSIONS
REFERENCES
INTRODUCTION
PRIMARY AND SCRAP PRICE BEHAVIOR
PRIMARYTOSCRAP PRICE RATIOS
MODELING PRICE RATIOS
EMPIRICAL RESULTS
CONCLUSIONS
REFERENCES
INTRODUCTION
THEORY OF STORAGE
EMPIRICAL STORAGE CURVE
COINTEGRATION AND CAUSALITY
CONCLUSIONS
REFERENCES
INTRODUCTION
ECONOMETRIC METHODOLOGY
EMPIRICAL TESTS FOR THRESHOLD COINTEGRATION
EMPIRICAL TESTS FOR CAUSALITY AND IMPLICATIONS
CONCLUSIONS
THREE ASYMPTOTICALLY EQUIVALENT TESTS FOR GRANGERCAUSALITY
REFERENCES
INTRODUCTION
INVENTORY AND PRICE BEHAVIOR
TESTING FOR TRENDS
COINTEGRATION BETWEEN STOCKS AND PRICES
VECTOR AUTOREGRESSION AND IMPULSE RESULTS
CONCLUSIONS
REFERENCES
INTRODUCTION
CHRONOLOGY OF COAL DEVELOPMENT
TECHNOECONOMIC EVALUATION OF COAL‚ S POTENTIAL
MACROECONOMIC IMPACTS OF FUEL DEVELOPMENT
CONCLUSIONS
REFERENCES
INTRODUCTION
REVIEW OF THE LITERATURE
CONCEPTUAL FRAMEWORK
ESTIMATING EQUATIONS
APPLICATION
CONCLUSIONS
REFERENCES
INTRODUCTION
TRADE AND THE ENVIRONMENT IN CHINA
MODEL SPECIFICATION AND ESTIMATION
DATA AND VARIABLES
MODEL SIMULATION
RESULTS AND DISCUSSIONS
IMPACTS OF AN INCREASE IN TRADE VALUES
CONCLUSIONS
REFERENCES
INTRODUCTION
CHINA FACES A SEVERE WATER CRISIS
TECHNICAL SOLUTIONS ARE AVAILABLE AND ECONOMICALLY FEASIBLE
CREATING A WATER MARKET FOR THE LONG TERM
STRENGTHENING POLLUTION MANAGEMENT
CONCLUSIONS
REFERENCES
INTRODUCTION
STANDARD STRENGTH OF PREFERENCE MODEL
MODEL ALLOWING FOR PREFERENCE ASYMMETRIES
DATA
EMPIRICAL RESULTS
CONCLUSIONS
REFERENCES
INTRODUCTION
WOMEN‚ S INVOLVEMENT IN MINING
FACTORING IN WOMEN INTO GLOBAL PARTNERSHIPS
TRUE FOCUS REMAINS SUSTAINABLE DEVELOPMENT
CONCLUSIONS
REFERENCES
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About the author (2008)

Peter Schaeffer is Professor of Economic Policy at West Virginia University and served as a director of the Division of Resource Management, which includes the Division of Agricultural and Resource Economics, from 1993 to 2006. He was a visiting professor of regional and environmental economics at the Swiss Federal Institute of Technology, Zurich, and a visiting scholar at the International Labour Organization in Geneva.

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