and losses of income associated with changes in world prices-as well as additional country-specific series, including …

multi-country model, with world market clearing, which incorporates speculative and non-speculative demands for inventories … matters, and that supply and demand elasticities are important in determining the commodity price in world markets above and … beyond the size of the share of those commodities in world trade …

This paper examines the historical effects of the El Niño-Southern Oscillation (ENSO) cycle on world prices and … economic activity. The analysis indicates that ENSO has economically-important and statistically-significant effects on world … inflation movements over the past several years. ENSO also has some explanatory power for world consumer price inflation and …

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 …

severe terms of trade shock associated with a sharp fall in world commodity prices have raised anew questions about the …