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SHORT RUN PRICE CYCLES IN THE SYDNEY WOOL FUTURES MARKET
Author(s) -
Hunt B.F.
Publication year - 1974
Publication title -
australian journal of agricultural economics
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.683
H-Index - 49
eISSN - 1467-8489
pISSN - 0004-9395
DOI - 10.1111/j.1467-8489.1974.tb00133.x
Subject(s) - futures contract , wool , economics , futures market , financial economics , short run , market efficiency , forward market , market price , monetary economics , microeconomics , archaeology , history
Evidence of systematic short run price movements in Sydney wool futures prices is presented. Traders' reaction to market uncertainty is suggested as a rationale of wool futures price periodicity. There is also a discussion of the significance of the cycle with regard to the efficiency of the market.