Working papers, Department of Economics, WU (Wirtschaftsuniversität Wien)
Handel auf Terminkontraktmärkten
Abstract: 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.
Keywords: commodity price instability; futures markets; futures prices; marking to markets; arbitrage-hedging; hedging; speculation; normal backwardation); (follow links to similar papers)
JEL-Codes: Q00; (follow links to similar papers)
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