The value of public information in commodity futures markets

被引：52
作者：
Garcia, P
Irwin, SH
Leuthold, RM
Yang, L
机构：
[1] OHIO STATE UNIV,COLUMBUS,OH 43210
[2] UNIV ILLINOIS,URBANA,IL 61801
来源：
JOURNAL OF ECONOMIC BEHAVIOR & ORGANIZATION | 1997年 / 32卷 / 04期
关键词：
information; public; commodity; crop report; prices;
D O I：
10.1016/S0167-2681(97)00013-9
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
The informational value of U.S. Department of Agriculture (USDA) corn and soybean production forecasts is investigated for the period 1971-1992. Three tests of informational content are applied. Overall, the results suggest USDA corn and soybean forecasts provide valuable information to participants in commodity futures markets. This value does appear to have declined, especially since the mid-1980s.
引用
收藏
页码：559 / 570
页数：12
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