NBER Meeting on Economics of Commodity Markets


Kenneth Singleton, Stanford University and NBER, and Wei Xiong, Princeton University and NBER, Organizers

On May 15 and 16, 2015, the National Bureau of Economic Research will hold a Universities' Research Conference in Cambridge, Massachusetts on the “Economics of Commodity Markets.” The program will be organized by Kenneth Singleton, Stanford University and NBER, and Wei Xiong, Princeton University and NBER. There will be no published proceedings, but the conference will be summarized in the NBER Reporter.


The rapidly changing landscape of commodity markets has important implications for research in finance, monetary economics, industry organization, development economics, international trade, and macroeconomics. The conference will bring together economists working in these areas who share interests in the role of commodities in global economic activity, and who will contribute to and benefit from debate on the strengths and limitations of the extant literature and on the pressing issues for future research.

We are inviting submissions of papers from researchers who would like to participate. We welcome submissions on any aspect of the economics of commodity markets. Examples of suitable themes for this conference include:

• Has the increasing presence of financial investors affected commodity markets?

• The industrial organization of commodity markets. For example, how would the prohibition of large banks from trading physical commodities or owning warehouses affect market pricing and liquidity?

• How do frictions in real economies impact commodity prices, and do frictions in the commodity markets spill over to real economic activity?

• Has the information environment in commodity markets improved or worsened with the globalization of the world economy?

• What are the roles of demand shocks, supply shocks, and financial shocks in driving commodity price cycles?

• How do commodity price cycles affect the global economy, emerging economies, and commodity-producing economies?

• How do monetary policies impact commodity prices?

• What are the economic consequences of the shale energy boom?

Selection Process

Empirical research, or theoretical work with empirical applications, will be given priority in selecting papers for the conference program. Submissions from researchers early in their careers, and from researchers who are not NBER affiliates, are also encouraged.

Participants will be selected on the basis of papers or abstracts of about 500 words, with a strong preference for papers. Any research that will not be published at the time of the conference can be submitted. The deadline for submissions is February 15, 2015. Authors chosen to present papers will be notified by March 15, 2015. Final drafts of the papers will be due at the NBER on April 15, 2015. The NBER will pay the domestic travel and hotel expenses for one author per paper as well as for discussants at the conference.

Please upload the abstract (and if possible the full manuscript) of any paper that you would like considered for the conference by February 15, 2015. The link for such submissions is:

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