an increase in the level and volatility of spot prices. We construct a large panel data set which includes commodities …

Poor countries are more volatile than rich countries, and we know this volatility impedes their growth. We also know … that commodity price volatility is a key source of those shocks. This paper explores commodity and manufactures price over … the past three centuries to answer three questions: Has commodity price volatility increased over time? The answer is no …

, the role of biofuels in determining recent high corn and other agricultural commodity prices, as well as their volatility … industrial demand for corn, contributing to both higher prices and greater price volatility. But turbulence in recent economic … vary over time in ways that are observable in data. Price volatility and "subsidy incidence" also depend on which regime is …

sub-standard economic performance. They are: long-term trends in world commodity prices, volatility, crowding out of … to overcome the pitfalls of the Curse. Ideas include indexation of oil contracts, hedging of export proceeds …

This paper uses a dynamic optimization model to estimate the welfare gains of hedging against commodity price risk for … commodity-exporting countries. We show that the introduction of hedging instruments such as futures and options enhances … domestic welfare through two channels. First, by reducing export income volatility and allowing for a smoother consumption path …

, including influential studies identifying price bubbles in periods of high volatility. Here we consider a model of the market …