Narrow search
Showing 1 - 10 of 232
Cover Image
Financial Instruments to Hedge Commodity Price Risk for Developing Countries
Lu, Yinqiu - 2008
Many developing economies are heavily exposed to commodity markets, leaving them vulnerable to the vagaries of international commodity prices. This paper examines the use of commodity options-including plain vanilla, risk reversal, and barrier options-to hedge such risk. It then proposes the use...
Persistent link: https://www.econbiz.de/10012677561
Cover Image
The Effects of Economic News on Commodity Prices
Roache, Shaun K. - 2009
The paper uses an event study methodology to investigate which and how macroeconomic announcements affect commodity prices. Results show that gold is unique among commodities, with prices reacting to specific scheduled announcements in the United States and the Euro area (such as indicators of...
Persistent link: https://www.econbiz.de/10012677809
Cover Image
Commodity Price Volatility, Cyclical Fluctuations, and Convergence
Zoli, Edda - 2009
This paper assesses the role of international commodity prices, cyclical fluctuations, and convergence in driving inflation in 18 European emerging economies. Country specific VARs and panel estimates indicate that international commodity price shocks have a significant impact on domestic...
Persistent link: https://www.econbiz.de/10012677734
Cover Image
Commodity Prices and Exchange Rate Volatility : Lessons from South Africa's Capital Account Liberalization
Dumitrescu, Elena - 2012
We examine the relationship between South African Rand and gold price volatility using monthly data for the period 1980 … volatility but the causality runs the other way around for the post-liberalization period. These findings suggest that gold price … volatility plays a key role in explaining both the excessive exchange rate volatility and current disproportionate share of …
Persistent link: https://www.econbiz.de/10012690174
Cover Image
Macro-Hedging for Commodity Exporters
Borensztein, Eduardo - 2009
through two channels. First, by reducing export income volatility and allowing for a smoother consumption path. Second, by …
Persistent link: https://www.econbiz.de/10012677894
Cover Image
The Comovement in Commodity Prices; Sources and Implications
Alquist, Ron; Coibion, Olivier - International Monetary Fund (IMF) - 2013
We present a simple macroeconomic model with a continuum of primary commodities used in the production of the final good, such that the real prices of commodities have a factor structure. One factor captures the combined contribution of all aggregate shocks which have no direct effects on...
Persistent link: https://www.econbiz.de/10011242285
Cover Image
Macroeconomic Stability in Resource-Rich Countries : The Role of Fiscal Policy
Bova, Elva; Medas, Paulo; Poghosyan, Tigran - 2016
Resource-rich countries face large and persistent shocks, especially coming from volatile commodity prices. Given the severity of the shocks, it would be expected that these countries adopt countercyclical fiscal policies to help shield the domestic economy. Taking advantage of a new dataset...
Persistent link: https://www.econbiz.de/10014408026
Cover Image
Fiscal Positions in Latin America : Have They Really Improved?
Zettelmeyer, Jeromin - 2008
Fiscal performance in Latin America looks much improved this decade compared to the 1980s or 1990s. Is this a "structural" improvement or likely to be transitory? This paper answers this question by estimating the relationship between non-commodity revenue and the economic cycle, and evaluating...
Persistent link: https://www.econbiz.de/10014409033
Cover Image
The Comovement in Commodity Prices : Sources and Implications
Alquist, Ron - 2013
We present a simple macroeconomic model with a continuum of primary commodities used in the production of the final good, such that the real prices of commodities have a factor structure. One factor captures the combined contribution of all aggregate shocks which have no direct effects on...
Persistent link: https://www.econbiz.de/10014409423
Cover Image
Inflation Responses to Commodity Price Shocks - How and Why Do Countries Differ?
Fund, International Monetary - 2012
This paper relates the inflationary impact of commodity price shocks across countries to a broad range of structural characteristics and policy frameworks over the period 2001-2010, using several approaches. The analysis suggests that economies with higher food shares in CPI baskets, fuel...
Persistent link: https://www.econbiz.de/10012677548