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Borensztein, Eduardo - 2009

This paper uses a dynamic optimization model to estimate the welfare gains of hedging against commodity price risk for … commodity-exporting countries. We show that the introduction of hedging instruments such as futures and options enhances …

Persistent link: https://www.econbiz.de/10012463197

An Analysis of the Stabilizing and Welfare Effects of Intervention in Spot and Futures Markets

Campbell, Robert B. - 1985

This paper analyzes the effects of three alternative rules on the long-run distributions of both the spot and futures prices ina single commodity market, in which the key behavioral relationships are derived from the optimizing behavior of producers and speculators.The rules considered include:...

Persistent link: https://www.econbiz.de/10012477382

The Evolution of Comparative Advantage : Measurement and Welfare Implications

Levchenko, Andrei A. - 2011

We estimate productivities at the sector level for 72 countries and 5 decades, and examine how they evolve over time in both developed and developing countries. In both country groups, comparative advantage has become weaker: productivity grew systematically faster in sectors that were initially...

Persistent link: https://www.econbiz.de/10012461851

Firms' Optimism and Pessimism

Bachmann, Ruediger - 2013

West German manufacturing subset of the IFO Business Climate Survey to infer quarterly production changes at the firm level … and combine them with production expectations over a quarterly horizon in the same survey to construct series of … and at most 34 percent of firms systematically over- or underpredict their one-quarter-ahead upcoming production. In a …

Persistent link: https://www.econbiz.de/10012459673