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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Academic & Applied Research

Research from J.P. Morgan Endowed Chair and Research Director, Dr. Jian Yang

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.

Academic Research

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

​​Investment and Uncertainty With Time to Build: Evidence from Entry into U.S. Copper Mining Journal of Economic Dynamics and Control, Vadim Marmer and Margaret E. Slade, October 2018

Neither Dutch nor disease?—natural resource booms in theory and empirics Mineral Economics, Grant Mark Nülle, Graham A. Davis, May 3, 2018

The Currency-Plus-Commodity Basket: A Proposal for Exchange Rates in Oil-Exporting Countries to Accommodate Trade Shocks Automatically Jeffrey A. Frankel, January 29, 2018


Applied Research

Commodity Markets Outlook: A World Bank Report October 2020

Practical Considerations for Commodity Investment Analysis GCARD, Tom Brady, Ph.D., Summer 2019

Geopolitical Oil Price Risk Index - GOPRX, Yosef Bonaparte, Ph.D.

Shaping and Hedging Renewable Power Purchase Agreements GCARD, Brock Mosovsky, Ph.D, Lance Titus​, Winter 2018

Commodity Risks: Describing the Unobservable GCARD, Bluford Putnam, Ph.D, Winter 2019

Emerging Challenges for Commodity Risk Managers from an Industrial Consumer's Standpoint GCARD, Sven Streitmayer, Spring 2017.

Liquidity Issues in the U.S. Natural Gas Market Part 1 & Part 2 GCARD, Gary Mahrenholz, Ph.D., Vincent Kaminski, Ph.D. (Part 1 only), Winter 2019

Content Coming Soon


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.

2020 Symposium Cancelled Due to Covid-19

With feedback from so many of you, advice from our industry advisory and research council members, and from our Dean’s office, we have decided to cancel the 2020 Symposium.   

The decision has proven very difficult for us. To date, we have received paper submissions from researchers from over fifteen countries and very prestigious universities (Chicago-Booth, Columbia, Oxford, UC-Berkeley, U Penn-Wharton, among others) as well as policy institutions including the World Bank, United Nations and the U.S. Federal Reserve.

We fully anticipate holding the Symposium in August 2021!

In lieu of our physical conference in Denver, we are considering hosting virtual academic research and applied research seminars/lectures throughout the year. More details will be coming! You can also connect with us here:

1. Follow JPMCC on
2. Follow GCARD on
3. Visit our GCARD website

 


Global Commodities Applied Research Digest (GCARD)

Hilary Till

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), generously sponsored by the CME Group Foundation. 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 (fix spelling).  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.


Craig Pirrong, Ph.D., University of Houston
Bluford Putnam, Ph.D., CME Group
Forest Reinhardt, Ph.D., Harvard University
Michel Robe, Ph.D., University of Illinois at Urbana-Champaign
Ehud Ronn, Ph.D., University of Texas at Austin
Geert Rouwenhorst, Ph.D., Yale University
Bryce Schneider, Xcel Energy
Margaret Slade, Ph.D., University of British Columbia
Sven Streitmayer, Robert Bosch GmbH (Germany)
Hilary Till, J.P. Morgan Center for Commodities
Lance Titus, Uniper Global Commodities
Robert Vigfusson, Ph.D. Board of Governors, Federal Reserve System
Robert Webb, Ph.D., University of Virginia
Brian Wright, Ph.D., University of California, Berkeley
Wei Xiong, Ph.D., Princeton University