Bubble Troubles? Rational Storage, Mean Reversion and Runs in Commodity Prices.

Eugenio S. A. Bobenrieth, Juan R. A. Bobenrieth, Brian D. Wright

NBER Working Paper No. 19037
Issued in May 2013, Revised in May 2013

---- Acknowledgments ----

Work on this paper was funded by the Energy Biosciences Institute and by CONICYT/Fondo Nacional de Desarrollo Científico y Tecnológico (FONDECYT) Project 1090017. Eugenio Bobenrieth's research for this paper was done partially when he was a professor at Universidad de Concepción, Chile. Eugenio Bobenrieth acknowledges partial financial support from Grupo Security through Finance UC, and from Project NS 100046 of the Iniciativa Científica Milenio of the Ministerio de Economía, Fomento y Turismo, Chile. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.

---- Disclosure of Financial Relationships for Brian D. Wright ----

The Energy Biosciences Institute at UC Berkeley is funded by BP.

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