商品期货和通货膨胀趋势

IF 0.4 Q4 BUSINESS, FINANCE
Marc Fandetti
{"title":"商品期货和通货膨胀趋势","authors":"Marc Fandetti","doi":"10.3905/jai.2023.1.198","DOIUrl":null,"url":null,"abstract":"While commodity futures protect against commodity inflation, their relationship with measures of trend inflation is weak. Commodity futures do not appear to hedge inflation impulses coming from sectors other than food and energy, nor are they responsive to long-term relative rises in energy prices. While such episodes have been rare, the author cautions against assuming they are unimportant. He concludes that inflation-hedging benefits of commodities may depend on the source and persistence of inflation and they should not be described as an inflation hedge without qualification.","PeriodicalId":45142,"journal":{"name":"Journal of Alternative Investments","volume":null,"pages":null},"PeriodicalIF":0.4000,"publicationDate":"2023-08-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":"{\"title\":\"Commodity Futures and Trend Inflation\",\"authors\":\"Marc Fandetti\",\"doi\":\"10.3905/jai.2023.1.198\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"While commodity futures protect against commodity inflation, their relationship with measures of trend inflation is weak. Commodity futures do not appear to hedge inflation impulses coming from sectors other than food and energy, nor are they responsive to long-term relative rises in energy prices. While such episodes have been rare, the author cautions against assuming they are unimportant. He concludes that inflation-hedging benefits of commodities may depend on the source and persistence of inflation and they should not be described as an inflation hedge without qualification.\",\"PeriodicalId\":45142,\"journal\":{\"name\":\"Journal of Alternative Investments\",\"volume\":null,\"pages\":null},\"PeriodicalIF\":0.4000,\"publicationDate\":\"2023-08-14\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"0\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"Journal of Alternative Investments\",\"FirstCategoryId\":\"1085\",\"ListUrlMain\":\"https://doi.org/10.3905/jai.2023.1.198\",\"RegionNum\":0,\"RegionCategory\":null,\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"Q4\",\"JCRName\":\"BUSINESS, FINANCE\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"Journal of Alternative Investments","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.3905/jai.2023.1.198","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q4","JCRName":"BUSINESS, FINANCE","Score":null,"Total":0}
引用次数: 0

摘要

虽然商品期货可以抵御商品通胀,但它们与趋势通胀指标的关系较弱。大宗商品期货似乎无法对冲来自食品和能源以外行业的通胀冲动,也无法应对能源价格的长期相对上涨。虽然这样的事件很少发生,但作者提醒不要认为它们不重要。他得出结论,大宗商品的通胀对冲收益可能取决于通胀的来源和持续性,不应将其描述为无条件的通胀对冲。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
Commodity Futures and Trend Inflation
While commodity futures protect against commodity inflation, their relationship with measures of trend inflation is weak. Commodity futures do not appear to hedge inflation impulses coming from sectors other than food and energy, nor are they responsive to long-term relative rises in energy prices. While such episodes have been rare, the author cautions against assuming they are unimportant. He concludes that inflation-hedging benefits of commodities may depend on the source and persistence of inflation and they should not be described as an inflation hedge without qualification.
求助全文
通过发布文献求助,成功后即可免费获取论文全文。 去求助
来源期刊
CiteScore
1.50
自引率
14.30%
发文量
40
期刊介绍: The Journal of Alternative Investments (JAI) provides you with cutting-edge research and expert analysis on managing investments in hedge funds, private equity, distressed debt, commodities and futures, energy, funds of funds, and other nontraditional assets. JAI is the official publication of the Chartered Alternative Investment Analyst Association (CAIA®). JAI provides you with challenging ideas and practical tools to: •Profit from the growth of hedge funds and alternatives •Determine the optimal mix of traditional and alternative investments •Measure and track portfolio performance •Manage your alternative investment portfolio with proven risk management practices
×
引用
GB/T 7714-2015
复制
MLA
复制
APA
复制
导出至
BibTeX EndNote RefMan NoteFirst NoteExpress
×
提示
您的信息不完整,为了账户安全,请先补充。
现在去补充
×
提示
您因"违规操作"
具体请查看互助需知
我知道了
×
提示
确定
请完成安全验证×
copy
已复制链接
快去分享给好友吧!
我知道了
右上角分享
点击右上角分享
0
联系我们:info@booksci.cn Book学术提供免费学术资源搜索服务,方便国内外学者检索中英文文献。致力于提供最便捷和优质的服务体验。 Copyright © 2023 布克学术 All rights reserved.
京ICP备2023020795号-1
ghs 京公网安备 11010802042870号
Book学术文献互助
Book学术文献互助群
群 号:481959085
Book学术官方微信