This paper analyzes historical movements in the commodity futures market and the relationship to inflation. Specifically, the relationship between the Commodity Research Bureau (CRB) Index and United States inflation is investigated. It is said that the relationship between the CRB index and the...

This article argues that any analysis of the Phillips Curve without the inclusion of real interest rate may generate a misleading result as any changes in the interest rate impacts the labor capital input mix in the production process, leading to a change in the level of employment in the...