Trends, Fluctuations, and Determinants of Commodity Prices

A threefold analysis of commodity prices is carried out to observe their long-runbehaviour, their short-run properties and the main determinants. According to theevidence, the Prebisch-Singer hypothesis does not seem to be a property of mostprices. The cycles of commodity prices are asymmetric but contrary to the case ofeconomic activity, the longer phase corresponds to slumps. Interest rates seem tomaintain a negative relationship with commodity prices.

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Year of publication:	2008-06-30
Authors:	Arango, Luis Eduardo ; Arias, Fernando ; Flórez, Luz Adriana
Institutions:	BANCO DE LA REPÚBLICA
Subject:	commodity prices \| real interest rates \| Prebisch-Singer hypothesis \| short-run behaviour

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Series:	BORRADORES DE ECONOMIA.
Type of publication:	Book / Working Paper
Language:	English
Notes:	3 pages long
Classification:	E3 - Prices, Business Fluctuations, and Cycles ; E32 - Business Fluctuations; Cycles ; F4 - Macroeconomic Aspects of International Trade and Finance ; O13 - Agriculture; Natural Resources; Energy; Environment; Other Primary Products ; O47 - Measurement of Economic Growth; Aggregate Productivity ; Q11 - Aggregate Supply and Demand Analysis; Prices
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005768158