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	Provedor de dados AgEcon (1) Autor Hayes, Dermot J. (1) Irwin, Scott H. (1) Mallory, Mindy L. (1) Palavra-chave Arbitrage (1) Cointegration (1) Corn (1) Crop Production/Industries (1) Demand and Price Analysis (1) Energy (1) Ethanol (1) Futures (1) Marketing (1) Price-analysis (1) Risk and Uncertainty (1) Storage. (1) Mais... Tipo do documento Working or Discussion Paper (1) Ano 2010 (1) País United States (1) Idioma Inglês (1)		Ordenar por:  Relevância Autor Título Ano Registros recuperados: 1 Primeira ... 1 ... Última How Market Efficiency and the Theory of Storage Link Corn and Ethanol Markets AgEcon Mallory, Mindy L.; Hayes, Dermot J.; Irwin, Scott H.. In this article we use the theories of market efficiency and supply of storage to develop a conceptual link between the corn and ethanol markets and explore statistical evidence for the link. We propose that a long-run no-profit condition is established in distant futures markets for ethanol, corn, and natural gas and then use the theory of storage to define an inter-temporal equilibrium among these prices. The relationship shows that under certain conditions, future price expectations will influence current spot prices and that a short-term relationship between input and output prices will exist. This short-term relationship will contain fixed costs. We demonstrate validity of the theory using a structural price model and then by means of time-series... Tipo: Working or Discussion Paper Palavras-chave: Arbitrage; Cointegration; Corn; Energy; Ethanol; Futures; Price-analysis; Storage.; Crop Production/Industries; Demand and Price Analysis; Marketing; Risk and Uncertainty. Ano: 2010 URL: http://purl.umn.edu/97611 Registros recuperados: 1 Primeira ... 1 ... Última

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