CEU Electronic Theses and Dissertations, 2010
| Author | Demkiv, Mykhaylo |
|---|---|
| Title | Simultaneous Equation Analysis of the Supply and Demand of the World Gold Market |
| Summary | This thesis examines the world gold market for the period of the last thirty years. The particular objects of interest are the factors that determine the supply and demand of gold. I apply simultaneous equations method to estimate the impact of these factors using the Two Stage Least Squares approach. This allowed me to derive the supply and demand functions which can be plotted in rectangular coordinate system. Findings show high influence of the gold jewelry market and net investors position on the demand side but somewhat less dependence on the inflation adjusted price. Contrary, price of gold plays a crucial role for the supply side along with the average profitability level in the gold mining industry and the Trade Dollar Index. Keywords: gold market, simultaneous equations method, two stage least squares, demand-supply analysis. |
| Supervisor | Kondor Peter |
| Department | Economics MA |
| Full text | https://www.etd.ceu.edu/2010/demkiv_mykhaylo.pdf |
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