On Jun 1, 2008, at 1:21 PM, Jim Devine wrote:
that's right about the populists, but from a purely scientific perspective (to the extent that it is possible in economics), it'd be good to know to what extent the prices of oil and gasoline are rising because of 1. speculation (which typically has only transitory effects), 2. conjunctural events (the blasting of pipe-lines in Nigeria, etc.),
So if hedge funds buy oil when a pipeline blows up, is that conjunctural or speculative? If real users hoard because prices are rising, is that speculative or fundamental? Does a piece of news about political instability add $5 or $20 to the price - or nothing? Reactions to news are also infected by the speculative mood. I don't know how you'd tease all these things apart.
Doug _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
