It takes the average reader and 22 minutes to read The Myth of Comoving Commodity Prices by Mr. C. John McDermott
Assuming a reading speed of 250 words per minute. Learn more
There is a common perception that the prices of unrelated commodities move together. This paper re-examines this notion, using a measure of comovement of economic time series called concordance. Concordance measures the proportion of time that the prices of two commodities are concurrently in the same boom period or same slump period. Using data on the prices of several unrelated commodities, the paper finds no evidence of comovement in commodity prices. The results carry an important policy implication, as the study provides no support for earlier claims of irrational trading behavior by participants in world commodity markets.
The Myth of Comoving Commodity Prices by Mr. C. John McDermott is 22 pages long, and a total of 5,544 words.
This makes it 7% the length of the average book. It also has 7% more words than the average book.
The average oral reading speed is 183 words per minute. This means it takes and 30 minutes to read The Myth of Comoving Commodity Prices aloud.
The Myth of Comoving Commodity Prices is suitable for students ages 8 and up.
Note that there may be other factors that effect this rating besides length that are not factored in on this page. This may include things like complex language or sensitive topics not suitable for students of certain ages.
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