The J.P. Morgan Center for Commodities (JPMCC) produces academic and applied research for the broad commodity practitioner audience. Our Center sponsors an annual Research Symposium, with a bi-annual GCARD publication, in partnership with our global Research Council and Industry expert partners.
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Research Symposium
The symposium's objective is to bring together global thought leaders and prominent stakeholders in commodities from both academia and industry to discuss their critical thinking and new research related to commodities. The focus of research is on real-world relevance of commodities research with academic rigor.
Sessions are limited to outstanding research and comprise of competitively selected and solicited papers, as well as industry research leaders’ presentations and industry panel discussions. In addition to traditional paper presentation sessions, we will have poster presentation sessions to showcase quality papers.
2023 Dates Coming Soon!
Academic & Applied Research
Dr. Jian Yang is an internationally recognized scholar and one of most prolific authors in finance over the past 50 years, based on core finance journal publications, and is one of 15 commodities-friendly professors in the world. He serves on the editorial boards of the Journal of Futures Markets as well as the Journal of Commodities Markets. Dr. Jian Yang also utilizes his academic research to provide applied research insights on practical problems through interviews with business media. Here is a showcase of his most recent research in commodities.
“Return and Volatility Transmission between Chinese and International Oil Futures Markets: A First Look,” Journal of Futures Markets, forthcoming, 2020.
“The Impact of Crude Oil Inventory Announcements on Prices: Evidence from Derivatives Markets,” Journal of Futures Markets, January 2018.
“Are There Exploitable Trends in Commodity Futures Prices?” Journal of Banking and Finance, September 2016.
Price discovery in chinese agricultural futures markets: A comprehensive look Jian Yang, Zheng Li, Tao Wang. The Journal of Futures Markets. December 17, 2020
The First Commodity Futures Index of 1933 Geetesh Bhardwaj, K. Geert Rouwenhorst. December 14, 2019
The Commodity Futures Risk Premium: 1871–2018 Geetesh Bhardwaj, Rajkumar Janardanan, K. Geert Rouwenhorst. October 1, 2019
Who Holds Positions in Agricultural Futures Markets Michel A. Robe & John Spencer Roberts, August 25, 2019.
The Relative Inefficiency of Petroleum Fiscal Regimes in Latin America and the Caribbean Graham A. Davis, Ph.D, James L. Smith, Ph.D., June 24, 2019
Resources and Diplomacy: Commodity Signposts to a Post-War Economic Order, GCARD, Colin Waugh, Summer 2022
The Day Oil Markets Reacted to Omicron, GCARD, Blu Putnam & Arthur Yu, Summer 2022
Gold and Bitcoin - A Short Study of Two Carbon Impacts, GCARD, Gillis Bjork Danielsen, Winter 2021
The Smile of the Volatility Risk Premia, GCARD, Ilia Bouchouev, Winter 2021
Searching for Asymmetry: The Case of Crude Oil GCARD, Blu Putnam, Winter 2021
Global Commodities Applied Research Digest (GCARD)
GCARD’s Contributing Editor is Hilary Till, M.Sc., Solich Scholar at the JPMCC, and JPMCC Research Council Member.
The JPMCC is the home of an innovative bi-annual e-publication, the Global Commodities Applied Research Digest (GCARD), which is generously sponsored by Integrated Portfolio Intelligence, LLC, FourPoint Energy, LLC, and the CME Group. The purpose of the digest is to highlight for practitioners the key findings of applied research on topical issues in the agricultural, metals and mining, and energy markets as well as in commodity finance.
The aim of the digest is to serve the Center’s applied research mission by informing commodity-industry practitioners on research that will either directly impact their businesses or will impact public policy in the near future. The selection of articles is based on how relevant articles are to the concerns of professionals engaged in the business of commodities.
Until now, there has not been an accessible source of concise information about current research across commodity segments: the GCARD precisely fills this marketplace gap. An additional goal is to encourage dialog amongst stakeholders in the various commodity disciplines.
Research Council Members
Our Research Council Members are an integral part of the J.P. Morgan Center for Commodities. Our Research Council is made up of leading Academic professionals and industry practitioners from around the world and across the commodity sectors. These experts provide valuable input for future commodity research direction and focus for the J.P. Morgan Center for Commodities and also assist in selecting prime research for our annual Research Symposium.
John Baffes, Ph.D., World Bank
Craig Pirrong, Ph.D., University Of Houston
Thomas Brady, Ph.D., Executive Director, J.P. Morgan Center for Commodities
Bluford Putnam, Ph.D., Cme Group
Colin Carter, Ph.D., University Of California, Davis
Forest Reinhardt, Ph.D., Harvard University
Graham Davis, Ph.D., Colorado School of Mines
Michel Robe, Ph.D., University Of Illinois at Urbana-Champaign
Jeffrey Frankel, Ph.D., Harvard University
Ehud Ronn, Ph.D., University Of Texas at Austin
Robert Greer, Scholar in Residence, J.P. Morgan Center for Commodities
K. Geert Rouwenhorst, Ph.D., Yale University
James Hamilton, Ph.D., University Of California, San Diego
Bryce Schneider, Xcel Energy
Scott Irwin, Ph.D., University Of Illinois at Urbana-Champaign
Margaret Slade, Ph.D., University Of British Columbia (Canada)
Vince Kaminski, Ph.D., Rice University
Sven Streitmayer, Robert Bosch Gmbh (Germany)
Lutz Kilian, Ph.D., Federal Reserve Bank of Dallas
Dan Kowalski, CoBank
Lance Titus, Uniper Global Commodities
Matthew Most, Ovintiv
Robert Vigfusson, Ph.D., Board of Governors of The Federal Reserve System
Nikos Nomikos, Ph.D., Bayes Business School, City, University of London (U.K.)
Robert Webb, Ph.D., University Of Virginia
Don Pearson, Ardent Mills
Brian Wright, Ph.D., University Of California, Berkeley
Robert Pindyck, Ph.D., Massachusetts Institute of Technology
Wei Xiong, Ph.D., Princeton University