Autore
Torricelli, Costanza

Titolo
The influence of futures on spot price volatility in a model for a storable commodity
Periodico
European University Institute of Badia Fiesolana (Fi). Department of Economics - Working papers
Anno: 1991 - Fascicolo: 52 - Pagina iniziale: 3 - Pagina finale: 24

The influence of futures on spot prices is investigated in a twodate-one-period model with storage. The characterization of storage firms as hedgers is new in the literature and sheds light on the way futures affect spot prices in the presence of storage. The paper proves, on analytical grounds, a stabilizing influence of futures on spot prices when storage decisions are taken.



Testo completo: http://hdl.handle.net/1814/391

Esportazione dati in Refworks (solo per utenti abilitati)