Narrow search
Showing 1 - 10 of 460
Cover Image
Nonrenewable Resource Prices : Deterministic or Stochastic Trends?
Lee, Junsoo; List, John A.; Strazicich, Mark C. - 2021
In this paper we examine temporal properties of eleven natural resource real price series from 1870-1990 by employing a Lagrangian Multiplier unit root test that allows for two endogenously determined structural breaks with and without a quadratic trend. Contrary to previous research, we find...
Persistent link: https://www.econbiz.de/10013227016
Cover Image
Was this Time Different? Fiscal Policy in Commodity Republics
Cespedes, Luis Felipe - 2013
We revisit the issue of fiscal procyclicality in commodity-rich nations -commodity republics in the nomenclature of this paper. Since commodity prices are plausibly a main driver of fiscal policy outcomes in these countries, we focus on the behavior of fiscal variables across the commodity...
Persistent link: https://www.econbiz.de/10013071507
Cover Image
Commodity Price Volatility and World Market Integration Since 1700
Jacks, David S. - 2009
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 …
Persistent link: https://www.econbiz.de/10012764828
Cover Image
Biofuels, Binding Constraints and Agricultural Commodity Price Volatility
Abbott, Philip C. - 2015
, 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 …
Persistent link: https://www.econbiz.de/10013035869
Cover Image
The Natural Resource Curse : A Survey
Frankel, Jeffrey A. - 2010
sub-standard economic performance. They are: long-term trends in world commodity prices, volatility, crowding out of …
Persistent link: https://www.econbiz.de/10013145250
Cover Image
Financialization in Commodity Markets
Chari, Varadarajan V. - 2017
an increase in the level and volatility of spot prices. We construct a large panel data set which includes commodities …
Persistent link: https://www.econbiz.de/10012948088
Cover Image
The Consumption Terms of Trade and Commodity Prices
Berka, Martin - 2010
The national terms of trade, defined as the ratio of an export price index to an import price index has been extensively studied empirically. In this paper we construct an alternative measure, which we call the consumption terms of trade. This measure recognizes the fact that consumers and firms...
Persistent link: https://www.econbiz.de/10013149826
Cover Image
Adjustment Patterns to Commodity Terms of Trade Shocks : The Role of Exchange Rate and International Reserves Policies
Aizenman, Joshua - 2011
, effectively lowering its volatility. We also show that relatively small increases in the average holdings of reserves by Latin … substantially REER volatility …
Persistent link: https://www.econbiz.de/10013117207
Cover Image
Macroeconomic Performance During Commodity Price Booms and Busts
Cespedes, Luis Felipe - 2012
Fluctuations in commodity prices are often associated with macroeconomic volatility. But not all nations are created …
Persistent link: https://www.econbiz.de/10013097275
Cover Image
Mental Accounting and Consumer Choice : Evidence from Commodity Price Shocks
Hastings, Justine S. - 2012
We formulate a test of the fungibility of money based on parallel shifts in the prices of different quality grades of a commodity. We embed the test in a discrete-choice model of product quality choice and estimate the model using panel microdata on gasoline purchases. We find that when gasoline...
Persistent link: https://www.econbiz.de/10013103508