pretmg thiS result as consistent With the "normal. backwardatIOn" m future prices suggested by Keynes. (15) With normal backwardatIOn, the premIUm m.
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Interest Rates and Commodity Prices John Kitchen and Gordon Rausser
Abstract. The theory of storage and arbItrage a~ proaches fully mcorporate nommal mterest rates m far-near commodIty price spreads AlternatIVe frame works admIt a relatIOnshIp betlVeen mterest rates and commodIty own rates of mteres~ and as a resul~ the commodity price spread would not completely mcor porate the nommal mterest rate ThIS study examInes the VieWS on mterest rate-
