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Supply flexibility and insurance under commodity market instability

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  • Richard Mash

Abstract

The paper integrates the analysis of price volatility and supply instability for a commodity exporting country, adding consideration of the role of the non-tradables sector to the literature. The non-tradables sector plays a potentially significant role in changing the economy's response to instability and increases the returns from access to risk markets.

Suggested Citation

  • Richard Mash, 1996. "Supply flexibility and insurance under commodity market instability," CSAE Working Paper Series 1996-10, Centre for the Study of African Economies, University of Oxford.
    • Handle: RePEc:csa:wpaper:1996-10
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    File URL: https://ora.ox.ac.uk/objects/uuid:70ca55a4-1fff-4705-8d39-cc75e5feede0
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    References listed on IDEAS

    as
    1. Turnovsky, Stephen J & Shalit, Haim & Schmitz, Andrew, 1980. "Consumer's Surplus, Price Instability, and Consumer Welfare," Econometrica, Econometric Society, vol. 48(1), pages 135-152, January.
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