Maria Stückler: Department of Economics, Vienna University of Economics & B.A.
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.
JEL-codes: Q00 July 2002
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