1st Edition

Models of Futures Markets

Edited By Barry Goss Copyright 2000
    186 Pages
    by Routledge

    186 Pages
    by Routledge

    Continue Shopping

    This volume presents an entirely new analysis of the economics of futures markets, that will be of interest to both specialists in the area and the generalist economist seeking a new perspective.
    Through a combination of theoretical investigation and empirical application, three important themes are explored: the gains from futures trading and the efforts of emerging markets to reap these benefits; rationality and rival hypotheses of trader behaviour, such as noise trading; and the effect of regulatory tools on price formation.

    Editor's Introduction: Welfare, Rationality and Integrity in Futures Markets Barry A. Goss 1. The Benefits of Futures Trading Derek Francis 2. The Development of Commodity Future Exchanges in Kazakhstan and China: Evidence on their Role in Market Development Anne E. Peck 3. A Simultaneous Model of the US Dollar/Deutschmark Spot and Futures Markets Barry A Gossy and Gulay Avsar 4. Noise Trader Sentiment in Futures Markets Dwight Sanders, Scott H Irwin and Raymond M Leuthold 5. Microanalytics of Price Volatility in Futures Markets A G Malliaris and Jerome L Stein 6. The Integrity of Futures Markets: The Impact of Price Limits on Futures Prices Anthony D Hall, Paul Kofman and Anthony Siouclis


    Barry A. Goss is Reader in Economics at Monash University, Australia, and the editor of this volume. He is widely published in the field of futures markets, co-edited the Economic Record Special Issue on Futures Markets 1992, and wrote the feasibility study for the establishment of the Hong Kong Futures Exchange.

    'Extremely interesting and helpful for all those who are engaged or interested in this field ... the authors make insightful contributions and also open up questions for further research.' - Weltwirtschaftliches Archiv Review of World Economics