کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
964338 930511 2008 11 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
Some pitfalls in testing the law of one price in commodity markets
کلمات کلیدی
موضوعات مرتبط
علوم انسانی و اجتماعی اقتصاد، اقتصادسنجی و امور مالی اقتصاد و اقتصادسنجی
پیش نمایش صفحه اول مقاله
Some pitfalls in testing the law of one price in commodity markets
چکیده انگلیسی

Several articles find no support for the LOP in commodity markets. A few articles find some support. Rejecting the LOP would strike at the heart of economic theory. Rejection would suggest that firms do not maximize wealth and households do not maximize utility. Our objective is to show how four common pitfalls can cause tests of the LOP to fail when in fact the LOP holds. All tests that fail to support the LOP fall in to at least two pitfalls. All of these pitfalls are the result of ignoring important practical implications of arbitrage.

ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of International Money and Finance - Volume 27, Issue 6, October 2008, Pages 915–925
نویسندگان
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