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

that theory and structure help in predicting commodity prices, although not the exchange rate, and that predictive ability …

secular trend and the short run volatility. To do so, we employ 25 series, some of them starting as far back as 1650 and … investigating the dynamics of the volatility of the 25 relative primary commodity prices also allowing for endogenous multiple … breaks. We describe the often time-varying volatility in commodity prices and show that it has increased in recent years …

of the New Keynesian Phillips curve. To reduce the computational costs of the likelihood-based estimation, we employed a …

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 …

through two channels. First, by reducing export income volatility and allowing for a smoother consumption path. Second, by …