Speculative bubbles in precious metal markets — a suggestive model inspired by the 1986 platinum price development

Schimmelpfennig, Jörg

doi:10.3790/schm.111.1.83

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Schimmelpfennig, J. Speculative bubbles in precious metal markets — a suggestive model inspired by the 1986 platinum price development. Journal of Contextual Economics – Schmollers Jahrbuch, 111(1), 83-90. https://doi.org/10.3790/schm.111.1.83

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Speculative bubbles in precious metal markets — a suggestive model inspired by the 1986 platinum price development

Schimmelpfennig, Jörg

Journal of Contextual Economics – Schmollers Jahrbuch, Vol. 111 (1991), Iss. 1 : pp. 83–90

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Publisher Name: Duncker & Humblot
DOI: https://doi.org/10.3790/schm.111.1.83
Language: Multiple languages
Pages: 8

Schimmelpfennig, Jörg

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Abstract

Allowing for stochastic martingale solutions within rational expectations models implies temporary rises and falls in prices without any change in market fundamentals. This is combined with a special feature of the New York Mercantile Exchange precious metal futures, the upper limit for daily price changes, to give an illustrative view of the rather irregular and seemingly irrational platinum price movements in the third quarter of 1986.

Section Title	Page	Action	Price
Jorg Schimmelpfennig: Speculative bubbles in\rprecious metal markets - a suggestive model\rinspired by the 1986 platinum price development	83
1. Introduction	83
2. The basic model	84
3. The daily upper limit	85
4. Correcting and concluding remarks	87
Summary	89
Zusammenfassung	89
References	89

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Speculative bubbles in precious metal markets — a suggestive model inspired by the 1986 platinum price development

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