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 to an appreciation of the real exchange rate and a decline in relative …

fluctuations in real commodity prices. Increased exchange rate volatility calls for a better understanding of these relations. To … 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 …

This paper investigates the relationship between the nominal exchange rate regime and the volatility of relative … for primary commodities, the volatility of relative commodity prices rises when exchange rate uncertainty increases. If …

commodity exports move together over time. Using IMF data on the world prices of 44 commodities and national commodity export …