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|z 9781451960471
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|a 1018-5941
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|a Thornton, John.
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|a World Commodity Prices as a Forecasting Tool for Retail Prices :
|b Evidence From the United Kingdom /
|c John Thornton, Alicia Garcia-Herrero.
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|a Washington, D.C. :
|b International Monetary Fund,
|c 1997.
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|a 1 online resource (15 pages)
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|a IMF Working Papers
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|a <strong>Off-Campus Access:</strong> No User ID or Password Required
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|a <strong>On-Campus Access:</strong> No User ID or Password Required
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|a Electronic access restricted to authorized BRAC University faculty, staff and students
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|a This paper investigates, using cointegration and Granger-causality techniques, whether a stable long-run co-movement exists between world commodity prices and U.K. retail prices, and whether short-run changes in commodity prices convey information about future movements in U.K. retail prices. The results show noncointegration and no unidirectional Granger causality from commodity to retail prices. These findings suggest that little may be gained from using developments in commodity prices to forecast movements in retail prices in the inflation-targeting framework followed by the U.K. monetary authorities.
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|a Mode of access: Internet
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|a Garcia-Herrero, Alicia.
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|a IMF Working Papers; Working Paper ;
|v No. 1997/070
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| 856 |
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|z Full text available on IMF
|u http://elibrary.imf.org/view/journals/001/1997/070/001.1997.issue-070-en.xml
|z IMF e-Library
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