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Forecasting currencies with commodity prices -- Commodity prices, commodity currencies, and global economic developments / Jan J. J. Groen and Paolo A. Pesenti -- Comments: Kalok Chan, Roberto S. Mariano -- The relationship between commodity prices and currency exchange rates: evidence from the...
Persistent link: https://www.econbiz.de/10008909722
This paper provides a summary of what is known about trends in international commodity market integration during the … Discovery has steadily increased over time, and there has been substantial commodity market integration over the period, driven … by technology in the 19th century and politics in the late 20th century. However, this trend towards greater market …
Persistent link: https://www.econbiz.de/10012470137
Debate over trends in the terms of trade between primary commodities and manufactures, their causes and their impact has dominated the literature for more than a century. Classical economists claimed that the terms of trade of primary commodities should improve since land and natural resources...
Persistent link: https://www.econbiz.de/10012470538
The idea that wages rise relative to alternatives as job seniority accumulates is the foundation of the theory of specific human capital, as well as other widely accepted theories of compensation. The fact that persons with longer job tenures typically earn higher wages tends to support these...
Persistent link: https://www.econbiz.de/10012475740
commodities with and without futures markets, we find no empirical link between increased futures market trading and changes in …
Persistent link: https://www.econbiz.de/10012453945
We use variance decompositions from high-dimensional vector autoregressions to characterize connectedness in 19 key commodity return volatilities, 2011-2016. We study both static (full-sample) and dynamic (rolling-sample) connectedness. We summarize and visualize the results using tools from...
Persistent link: https://www.econbiz.de/10012454997
The large inflow of investment capital to commodity futures markets in the last decade has generated a heated debate about whether financialization distorts commodity prices. Rather than focusing on the opposing views concerning whether investment flows either did or did not cause a price...
Persistent link: https://www.econbiz.de/10012459020
analysis highlights important feedback effects of informational noise originating from supply shocks and futures market trading …
Persistent link: https://www.econbiz.de/10012459755
This paper considers the evidence on real commodity prices from 1900 to 2015 for 40 commodities, representing 8.72 trillion US dollars of production in 2011. In so doing, it suggests and documents a comprehensive typology of real commodity prices, comprising long-run trends, medium-run cycles,...
Persistent link: https://www.econbiz.de/10012459787
number of experts have argued that the fluctuations of Colombia's real exchange rate have been mainly determined by world …
Persistent link: https://www.econbiz.de/10012477515