J.P. Morgan Center for Commodities eJournal, Global Commodity Issues (Editor’s Choice)
Global Commodity Issues (Editor's Choice) distributes working papers and abstracts of accepted papers in commodities, including agricultural, minerals/mining, and energy-related commodities worldwide. Topics include supply chains (transportation and logistics), global trade and associated economic and regulatory issues, environmental and climate issues, advances in extraction/agricultural technology, legislative and political issues and risk management. Our readership consists of both practitioners and academics.
From The Editor
Dear current and future readers of our new Global Commodity Issues,
We are pleased to announce our first issue of a new eJournal Global Commodity Issues (Editor's Choice), sponsored by the J.P. Morgan Center for Commodities at CU Denver Business School. Through a grant from the CME Group, we can provide free subscriptions to those who are interested in getting issues by email from SSRN.
In Global Commodity Issue (Editor's Choice), the editorial team selects working papers and recently published papers from the large universe of papers in the commodities area. We believe these selections will be of interest to researchers and practitioners in commodities.
Amongst our selections for this issue is one entitled Economic Uncertainty and Commodity Futures Volatility examining the influence of macroeconomic and supply/demand factors on a variety of commodity futures prices. A recently published paper, Effects of Index-Fund Investing on Commodity Futures Prices, is on a topic of wide interest. See the table of contents of our eJournal for more information on these and other studies included in this month’s issue.
Note: Designated "working papers" are often not finished products but make you aware of the issues being studied by researchers in the commodities area. All of the papers represent the views of the authors and not those of the University of Colorado Denver nor the JPMorgan Commodities Center.
We welcome your comments. You can contact our editorial team at firstname.lastname@example.org.
Dr. Marcelle Arak
Dr. Marcelle Arak is an expert on financial and commodity market risk. A former Wall Street "quant", risk manager, and derivatives trader, she is the Research Director of the J.P. Morgan Center for Commodities of the University of Colorado, Denver Business School. She recently retired as a Professor of Finance & Risk Management at the University of Colorado Denver Business School. At the University, she taught courses on financial and commodity derivatives. Dr. Arak also serves as an advisor to money managers here, and to Finance Ministries and Central Banks abroad. Before joining the University, Dr. Arak headed Citibank's Structured Interest Rates Options and Guarantees Department. Her group was one of Wall Street's major providers of over-the-counter interest rate options, interest rate locks, and "swaptions". Prior to building that new business for Citibank, Dr. Arak headed the Capital Markets Analysis Department, the group of bond quants that provided advice to institutional customers of Citibank as well as for the Bank’s own risk management. Still earlier, she was Vice President and Head of the US economic and financial research group at the Federal Reserve Bank of New York. Dr. Arak earned her Ph.D in Economics at MIT and her BA at the University of Rochester. She has published extensively on financial market issues, including derivatives such as options, futures, and interest rate swaps.
Lance Bachmeier is an associate professor in the department of economics at Kansas State University. His research interests include energy economics, beef pricing, and macroeconomics. He has published in journals such as the Review of Economics and Statistics, the Journal of Money, Credit and Banking, the Energy Journal, and Economics Letters. He currently serves as an associate editor of Energy Economics.
Yosef Bonaparte graduated from the University of Texas at Austin in 2008. His dissertation is titled "Essays in Dynamic Household Finance with Heterogeneous Agents." His main research interest is in Behavioral Finance and Asset Pricing. In particular, he examines how political climate and political affiliation influence portfolio choice and the stock market in general. One of his Asset Pricing papers is forthcoming at top Economics and Finance journal, Journal of Monetary Economics, and one behavioral finance article is forthcoming at Journal of Financial Economics. His work also was cited in two of the top media outlets in the world, The New York times in January 2010, and CNBC in 2006; and recently at Channel 2 top Israeli cable program. Currently, he examines how sexual orientation influences portfolio choice, and finds that gay men exhibit a different portfolio choice decision. Furthermore, one of his working papers show that female, African American and other disadvantage group perceive greater financial risk than the actual risk. In addition, his work utilizes dynamic programing models to estimate key macroeconomics parameters, such as the risk aversion and the discount factor.
Graham A. Davis
Graham A. Davis is William J. Coulter Professor of Mineral Economics at the Colorado School of Mines, where he has taught and researched mineral economics for 22 years. He holds a B.S. in Metallurgical Engineering from Queen’s University, an MBA from the University of Cape Town, and a Ph.D. in Mineral Economics from the Pennsylvania State University. Prior to joining academia Graham worked as a metallurgical engineer at mines in Canada and Namibia. His research focuses on the modeling and valuation of mineral and energy assets under uncertainty, and on the impacts of resource extraction on economic and human development. He serves on the editorial board of Resources Policy, an international journal devoted to minerals policy and economics.
Dan Kowalski, Director of Industry Research, Knowledge Exchange Division, CoBankDan Kowalski is an economist, and director of industry research in CoBank’s Knowledge Exchange division. Prior to joining CoBank in 2011, Dan worked with an economics consulting firm, where he provided research and advisory services to the food, agribusiness, and biofuel industries. Dan holds a B.S in Agriculture from the University of Delaware and a Masters degree in Agricultural Economics from Penn State University.Dan Kowalski is an economist, and director of industry research in CoBank’s Knowledge Exchange division. Prior to joining CoBank in 2011, Dan worked with an economics consulting firm, where he provided research and advisory services to the food, agribusiness, and biofuel industries. Dan holds a B.S in Agriculture from the University of Delaware and a Masters degree in Agricultural Economics from Penn State University.