Taking Chinese only feed industrial Futures-Soybean Meal Futures in Dalian Commodity Exchange as examples, this article examines the dynamic relationship between the prices of spot and futures, and discloses the role of futures market plays in price disco
Taking Chinese only feed industrial Futures-Soybean Meal Futures in Dalian Commodity Exchange as examples, this article examines the dynamic relationship between the prices of spot and futures, and discloses the role of futures market plays in price disco
摘要本文借助向量自回归模型、协整检验、误差修正模型、方差分解、脉冲响应函数等方法，以中国唯一的饲料工业期货―大连商品交易所豆粕期货品种为例，研究了期货价格与现货价格之问的动态关系，定量刻画了期货市场在价格发现中的作用。