effect on commodity prices. China's impact on world commodity markets is rising but, perhaps surprisingly, remains smaller … be more persistent and have larger effects on the rest of the world …

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 …

How much does speculation contribute to oil price volatility? We revisit this contentious question by estimating a sign … model of the world oil market à la Kilian and Murphy (2013), since both imply a positive co-movement of oil prices and … the contribution of speculation to short-term oil price volatility (lying between 3 and 22 percent). This estimated short …

A model for world crude oil and natural gas markets is estimated. It confirms low price and high income elasticities of … demand for both crude oil and natural gas, which explains the market power of oil producers and price volatility following …