29
Reproduced with permission of the copyright owner. Further reproduction prohibited without permission. The dynamics of commodity spot and futures markets: A primer Robert S Pinkdyck The Energy Journal; 2001; 22, 3; ABI/INFORM Global pg. 1

The dynamics of commodity spot and futures markets: A ...web.mit.edu/rpindyck/www/Papers/Dynamics_Comm_Spot.pdfThe dynamics of commodity spot and futures markets: A primer Robert S

  • Upload
    others

  • View
    6

  • Download
    0

Embed Size (px)

Citation preview

Page 1: The dynamics of commodity spot and futures markets: A ...web.mit.edu/rpindyck/www/Papers/Dynamics_Comm_Spot.pdfThe dynamics of commodity spot and futures markets: A primer Robert S

Reproduced with permission of the copyright owner. Further reproduction prohibited without permission.

The dynamics of commodity spot and futures markets: A primerRobert S PinkdyckThe Energy Journal; 2001; 22, 3; ABI/INFORM Globalpg. 1

Page 2: The dynamics of commodity spot and futures markets: A ...web.mit.edu/rpindyck/www/Papers/Dynamics_Comm_Spot.pdfThe dynamics of commodity spot and futures markets: A primer Robert S

Reproduced with permission of the copyright owner. Further reproduction prohibited without permission.

Page 3: The dynamics of commodity spot and futures markets: A ...web.mit.edu/rpindyck/www/Papers/Dynamics_Comm_Spot.pdfThe dynamics of commodity spot and futures markets: A primer Robert S

Reproduced with permission of the copyright owner. Further reproduction prohibited without permission.

Page 4: The dynamics of commodity spot and futures markets: A ...web.mit.edu/rpindyck/www/Papers/Dynamics_Comm_Spot.pdfThe dynamics of commodity spot and futures markets: A primer Robert S

Reproduced with permission of the copyright owner. Further reproduction prohibited without permission.

Page 5: The dynamics of commodity spot and futures markets: A ...web.mit.edu/rpindyck/www/Papers/Dynamics_Comm_Spot.pdfThe dynamics of commodity spot and futures markets: A primer Robert S

Reproduced with permission of the copyright owner. Further reproduction prohibited without permission.

Page 6: The dynamics of commodity spot and futures markets: A ...web.mit.edu/rpindyck/www/Papers/Dynamics_Comm_Spot.pdfThe dynamics of commodity spot and futures markets: A primer Robert S

Reproduced with permission of the copyright owner. Further reproduction prohibited without permission.

Page 7: The dynamics of commodity spot and futures markets: A ...web.mit.edu/rpindyck/www/Papers/Dynamics_Comm_Spot.pdfThe dynamics of commodity spot and futures markets: A primer Robert S

Reproduced with permission of the copyright owner. Further reproduction prohibited without permission.

Page 8: The dynamics of commodity spot and futures markets: A ...web.mit.edu/rpindyck/www/Papers/Dynamics_Comm_Spot.pdfThe dynamics of commodity spot and futures markets: A primer Robert S

Reproduced with permission of the copyright owner. Further reproduction prohibited without permission.

Page 9: The dynamics of commodity spot and futures markets: A ...web.mit.edu/rpindyck/www/Papers/Dynamics_Comm_Spot.pdfThe dynamics of commodity spot and futures markets: A primer Robert S

Reproduced with permission of the copyright owner. Further reproduction prohibited without permission.

Page 10: The dynamics of commodity spot and futures markets: A ...web.mit.edu/rpindyck/www/Papers/Dynamics_Comm_Spot.pdfThe dynamics of commodity spot and futures markets: A primer Robert S

Reproduced with permission of the copyright owner. Further reproduction prohibited without permission.

Page 11: The dynamics of commodity spot and futures markets: A ...web.mit.edu/rpindyck/www/Papers/Dynamics_Comm_Spot.pdfThe dynamics of commodity spot and futures markets: A primer Robert S

Reproduced with permission of the copyright owner. Further reproduction prohibited without permission.

Page 12: The dynamics of commodity spot and futures markets: A ...web.mit.edu/rpindyck/www/Papers/Dynamics_Comm_Spot.pdfThe dynamics of commodity spot and futures markets: A primer Robert S

Reproduced with permission of the copyright owner. Further reproduction prohibited without permission.

Page 13: The dynamics of commodity spot and futures markets: A ...web.mit.edu/rpindyck/www/Papers/Dynamics_Comm_Spot.pdfThe dynamics of commodity spot and futures markets: A primer Robert S

Reproduced with permission of the copyright owner. Further reproduction prohibited without permission.

Page 14: The dynamics of commodity spot and futures markets: A ...web.mit.edu/rpindyck/www/Papers/Dynamics_Comm_Spot.pdfThe dynamics of commodity spot and futures markets: A primer Robert S

Reproduced with permission of the copyright owner. Further reproduction prohibited without permission.

Page 15: The dynamics of commodity spot and futures markets: A ...web.mit.edu/rpindyck/www/Papers/Dynamics_Comm_Spot.pdfThe dynamics of commodity spot and futures markets: A primer Robert S

Reproduced with permission of the copyright owner. Further reproduction prohibited without permission.

Page 16: The dynamics of commodity spot and futures markets: A ...web.mit.edu/rpindyck/www/Papers/Dynamics_Comm_Spot.pdfThe dynamics of commodity spot and futures markets: A primer Robert S

Reproduced with permission of the copyright owner. Further reproduction prohibited without permission.

Page 17: The dynamics of commodity spot and futures markets: A ...web.mit.edu/rpindyck/www/Papers/Dynamics_Comm_Spot.pdfThe dynamics of commodity spot and futures markets: A primer Robert S

Reproduced with permission of the copyright owner. Further reproduction prohibited without permission.

Page 18: The dynamics of commodity spot and futures markets: A ...web.mit.edu/rpindyck/www/Papers/Dynamics_Comm_Spot.pdfThe dynamics of commodity spot and futures markets: A primer Robert S

Reproduced with permission of the copyright owner. Further reproduction prohibited without permission.

Page 19: The dynamics of commodity spot and futures markets: A ...web.mit.edu/rpindyck/www/Papers/Dynamics_Comm_Spot.pdfThe dynamics of commodity spot and futures markets: A primer Robert S

Reproduced with permission of the copyright owner. Further reproduction prohibited without permission.

Page 20: The dynamics of commodity spot and futures markets: A ...web.mit.edu/rpindyck/www/Papers/Dynamics_Comm_Spot.pdfThe dynamics of commodity spot and futures markets: A primer Robert S

Reproduced with permission of the copyright owner. Further reproduction prohibited without permission.

Page 21: The dynamics of commodity spot and futures markets: A ...web.mit.edu/rpindyck/www/Papers/Dynamics_Comm_Spot.pdfThe dynamics of commodity spot and futures markets: A primer Robert S

Reproduced with permission of the copyright owner. Further reproduction prohibited without permission.

Page 22: The dynamics of commodity spot and futures markets: A ...web.mit.edu/rpindyck/www/Papers/Dynamics_Comm_Spot.pdfThe dynamics of commodity spot and futures markets: A primer Robert S

Reproduced with permission of the copyright owner. Further reproduction prohibited without permission.

Page 23: The dynamics of commodity spot and futures markets: A ...web.mit.edu/rpindyck/www/Papers/Dynamics_Comm_Spot.pdfThe dynamics of commodity spot and futures markets: A primer Robert S

Reproduced with permission of the copyright owner. Further reproduction prohibited without permission.

Page 24: The dynamics of commodity spot and futures markets: A ...web.mit.edu/rpindyck/www/Papers/Dynamics_Comm_Spot.pdfThe dynamics of commodity spot and futures markets: A primer Robert S

Reproduced with permission of the copyright owner. Further reproduction prohibited without permission.

Page 25: The dynamics of commodity spot and futures markets: A ...web.mit.edu/rpindyck/www/Papers/Dynamics_Comm_Spot.pdfThe dynamics of commodity spot and futures markets: A primer Robert S

Reproduced with permission of the copyright owner. Further reproduction prohibited without permission.

Page 26: The dynamics of commodity spot and futures markets: A ...web.mit.edu/rpindyck/www/Papers/Dynamics_Comm_Spot.pdfThe dynamics of commodity spot and futures markets: A primer Robert S

Reproduced with permission of the copyright owner. Further reproduction prohibited without permission.

Page 27: The dynamics of commodity spot and futures markets: A ...web.mit.edu/rpindyck/www/Papers/Dynamics_Comm_Spot.pdfThe dynamics of commodity spot and futures markets: A primer Robert S

Reproduced with permission of the copyright owner. Further reproduction prohibited without permission.

Page 28: The dynamics of commodity spot and futures markets: A ...web.mit.edu/rpindyck/www/Papers/Dynamics_Comm_Spot.pdfThe dynamics of commodity spot and futures markets: A primer Robert S

Reproduced with permission of the copyright owner. Further reproduction prohibited without permission.

Page 29: The dynamics of commodity spot and futures markets: A ...web.mit.edu/rpindyck/www/Papers/Dynamics_Comm_Spot.pdfThe dynamics of commodity spot and futures markets: A primer Robert S

Reproduced with permission of the copyright owner. Further reproduction prohibited without permission.