commodities, and industrial input price shocks. We show that commodities are not all alike. Industrial input price changes are … almost entirely endogenous responses to other shocks. Exogenous oil and food price shocks are relevant drivers of global real … and financial cycles, with food price shocks exerting the greatest influence. We then conduct counterfactual estimations …

Commodity price volatility can create concern for central bank policy-makers. Recent commodity prices peaked in the … connected in a cause and effect relationship with inflation and real output, the driving forces behind commodity price … series to identify volatility spillovers between monetary policies and commodity price index. The findings show that the …

This study examines the dynamic effects of the oil price (OP) shocks on the key macroeconomic variables of Pakistan. A …, the long-term interest rate and the inflation rate (INF) rise as a result of a positive OP shock. The unanticipated …