The DOI matches its Crossref record.
The Vulnerability of Price Stabilization Schemes to Speculative Attack
Abstract
This paper examines the effects of government attempts to stabilize the prices of commodities by use of buffer stocks. Agricultural goods subject to supply uncertainty as well as depletable resources are considered. In each case, it is shown that the resulting rational expectations competitive equilibrium contains a speculative attack--a situation where the entire government stock is suddenly purchased by previously inactive speculators. The analysis is applied to the historical attempt to peg the gold price, which caused the attack of 1968. The insights gained and the methodology developed also apply to the various international agreements to impose bans on commodity prices which have been proposed by the United Nations Conference on Trade and Development.
Overview
The claims and statistics of this paper haven’t been checked yet.
Run the check — free, no account needed. It reads the open-access text and checks the sources it cites.
Integrity signals
Registry
Cites
Statistics
Verification
Claims the paper makes
The claims and statistics of this paper haven’t been checked yet.
Run the check — free, no account needed. It reads the open-access text and checks the sources it cites.
Self-check
Percentages, sums and reported differences re-computed from the paper’s own numbers.
The self-check needs the paper’s full text.
Citations
Cited by
Walrasian Equilibrium with Gross Substitutes
Gul, F., & Stacchetti, E. (1999) · Journal of Economic Theory · doi:10.1006/jeth.1999.2531 · Cited by 622
Gilbert, C. L., & Morgan, C. W. (2010) · Philosophical Transactions of the Royal Society B: Biological Sciences · doi:10.1098/rstb.2010.0139 · Cited by 398
Emerging Trends in Blockchain Technology and Applications: A Review and Outlook
Gad, A. G., Mosa, D. T., Abualigah, L., & Abohany, A. A. (2022) · Journal of King Saud University - Computer and Information Sciences · doi:10.1016/j.jksuci.2022.03.007 · Cited by 283
Emissions trading with rolling horizons
Quemin, S., & Trotignon, R. (2021) · Journal of Economic Dynamics and Control · doi:10.1016/j.jedc.2021.104099 · Cited by 50
Metadata
- Authors
- Salant, S. W.
- Venue
- Journal of Political Economy
- Publisher
- University of Chicago Press
- Published
- 1983-02
- Volume
- 91
- Issue
- 1
- Pages
- 1-38
- ISSN
- 0022-3808 (ISSN-L)
- 1537-534X
- OpenAlex
- W2158905545
- Cited by
- 176
- References
- 0
- FWCI
- 30.30
- Type
- journal article
- Language
- en
- Open access
- closed
About these checks
Registry, retraction, Cites and statistics results are computed, not judged, with one exception: a printed reference that no index lists is read once by a model before it counts as a citation error. Claims are extracted by a model and kept only when their quote appears verbatim in the text; each cited source is then checked, with a model’s help, for whether it says what the claim relies on. Those verdicts can be wrong — read the claim’s quote and the cited source before relying on one.
Statistics and arithmetic are recomputed, not judged.
Confidence bands are shown only for fields calibrated on our annotated test set. None is calibrated yet, so no band is shown.
What counts as a claim ›How we measure confidence ›How we check this ›
Are you an author, or do you see a problem with this page? Request a review
How to cite
Cite CoChat for the checks on this page, and the paper for its own findings.
- This page
- CoChat. (2026). Citation check: The Vulnerability of Price Stabilization Schemes to Speculative Attack. https://app.cochat.ai/papers/10.1086/261127
- The paper
- Salant, S. W. (1983). The Vulnerability of Price Stabilization Schemes to Speculative Attack. Journal of Political Economy. https://doi.org/10.1086/261127
Data sources
Bibliographic data: Semantic Scholar, OpenAlex, Crossref.
Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
