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Is the storage model a 'closed' empirical issue? The empirical ability of the storage model to explain price dynamics



Is the storage model a 'closed' empirical issue? The empirical ability of the storage model to explain price dynamics



Agricultural commodity markets and trade: new approaches to analyzing market structure and instability: 89-114



This chapter describes the empirical research that has looked for evidence of competitive storage in actual time series of commodity prices. Section 2 briefly reviews the current state of empirical research on the storage model. This research can be broadly classified, according to the methods of analysis, in three categories: simulations, reduced form estimations, and structural estimations.

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