Using a new intranational dataset of monthly grain prices and production and a new
approach to identify cost parameters, I estimate and solve a dynamic model of agricultural …

This paper proposes a framework for designing optimal food price stabilisation policies in a
self-sufficient develo** country. It uses a rational expectations storage model with risk …

Abstract We present a Maximum Likelihood estimator for the standard commodity storage
model with stockouts, based on prices only. While it imposes no additional assumptions on …

This paper presents both the history of and state‐of‐the‐art in empirical modeling
approaches to the world commodity price volatility. The analysis builds on the storage model …

Spot prices or front-month futures prices for energy commodities can exhibit occasional
sharp peaks and drops (even to negative values), accompanied by large backwardations or …

The paper embeds the canonical rational expectations competitive storage model into a
general equilibrium framework thereby allowing the nonlinear commodity price dynamics …

The dynamics of consumption and stocks are crucial for analysis of commodity prices and
policies. But empirical application of the standard storage model has been derailed by …

Simulated prices from a stochastic storage model are used to examine the price impacts of
speculation by rational investors who diversify their financial portfolios by holding …

This paper develops and estimates a rational expectations storage model with rich dynamic
features. The model incorporates elastic supply, long-run demand and cost trends, and four …

The impact of biofuel mandates on the prices of commodities used to produce food
continues to be a major consideration by policy makers. More recently concern about high …