commodity) with little or no attention to food price shock. In this study, however, the effect of food price shocks on some … selected macroeconomic indicators is examined, in addition to oil price shock using the structural autoregressive (SVAR) model … found to be more profound compared with food price shock. Further evidence identified the exchange rate channel as the …

. A common trend, identified as a monetary shock, drives commodity prices. Policymakers face a policy dilemma: maintain … expansionary monetary policy stance with persistent commodity price inflation, subsequent severe world recession, and financial …