Similar Search Results

Real Exchange Rates and Commodity Prices in Neoclassical Model

International Monetary Fund - 1988

This paper presents a neoclassical model that explains the observed empirical relationship between government spending and world commodity supplies and the real exchange rate and real commodity prices. It is shown that fiscal expansion and increasing world commodity supplies simultaneously lead...

Persistent link: https://www.econbiz.de/10014396210

Commodity Price Volatility and the Sources of Growth

International Monetary Fund - 2012

This paper studies the impact of the level and volatility of the commodity terms of trade on economic growth, as well … of trade growth enhances real output per capita, volatility exerts a negative impact on economic growth operating mainly … trade volatility offset the positive impact of commodity booms; and export diversification of primary commodity abundant …

Persistent link: https://www.econbiz.de/10014396933

Primary Commodities : May 1987

International Monetary Fund - 1987

This paper provides an analysis of recent developments relating to the major nonfuel primary commodities entering international trade. Particular attention is given to market price movements in 1986 and to the factors underlying these movements. In the case of some agricultural markets, changes...

Persistent link: https://www.econbiz.de/10014397828

Commodity Terms of Trade : The History of Booms and Busts

International Monetary Fund - 2009

We compile a historical dataset covering nearly 40 years of booms and busts in the commodity terms of trade of over 150 countries. We discuss the characteristics of these events and their effects on macroeconomic performance and, in particular, compare the most recent commodity-price cycle with...

Persistent link: https://www.econbiz.de/10014402376

Commodity Prices and Inflation in the Middle East, North Africa, and Central Asia

International Monetary Fund - 2010

Inflation followed a strikingly uniform pattern in all countries of the Middle East, North Africa, and Central Asia during the period 1996-2009, falling until about 2000 and then rising. International fuel prices do not help explain this pattern. This conclusion is robust even when different...

Persistent link: https://www.econbiz.de/10014402865

Managing Global Growth Risks and Commodity Price Shocks : Vulnerabilities and Policy Challenges for Low-Income Countries

International Monetary Fund - 2011

As part of its work to help low-income countries (LICs) manage volatility, the IMF has recently developed an analytical …

Persistent link: https://www.econbiz.de/10014410364

Commodity Prices and Inflation : Evidence from Seven Large Industrial Countries

International Monetary Fund - 1989

A two-country theoretical model is presented, showing the effects of monetary, fiscal, and supply-side disturbances on prices of primary commodities and manufactured goods, and on exchange rates. If monetary shocks dominate, then commodity prices should lead general price movements, and the...

Persistent link: https://www.econbiz.de/10014395776

Commodity Prices As a Leading Indicator of Inflation

International Monetary Fund - 1988

Commodity prices may be a leading indicator of inflation, because of the relative importance of flexible auction markets for the determination of these prices. Empirical tests using data for the large industrial countries as a group suggest that changes in commodity prices tend to lead those in...

Persistent link: https://www.econbiz.de/10014396014

Trade Costs and Real Exchange Rate Volatility : The Role of Ricardian Comparative Advantage

International Monetary Fund - 2005

This paper examines the impact of trade costs on real exchange rate volatility. We incorporate a multi … exchange rate volatility depends on relative technological differences and trade costs. These differences highlight a new … volatility. We then test the importance of this channel using a large panel of cross-country data over 1970-97, and find strong …

Persistent link: https://www.econbiz.de/10014399797

Guarding Against Fiscal Risks in Hong Kong SAR

International Monetary Fund - 2007

volatility creates risks to service provision, possibly entailing sudden tax changes, or even requiring new borrowing. After … fiscal savings (reserves), and the impact alternate policy choices could have on revenue volatility …

Persistent link: https://www.econbiz.de/10014400988