Commodity Prices and Inflation : Evidence from Seven Large Industrial Countries.

A two-country theoretical model is presented, showing the effects of monetary, fiscal, and supply-side disturbances on prices of primary commodities and manufactured goods, and on exchange rates. If monetary shocks dominate, then commodity prices should lead general price movements, and the level of...

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Podrobná bibliografie
Korporativní autor: International Monetary Fund
Médium: Časopis
Jazyk:English
Vydáno: Washington, D.C. : International Monetary Fund, 1989.
Edice:IMF Working Papers; Working Paper ; No. 1989/072
On-line přístup:Full text available on IMF
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245 1 0 |a Commodity Prices and Inflation :   |b Evidence from Seven Large Industrial Countries. 
264 1 |a Washington, D.C. :  |b International Monetary Fund,  |c 1989. 
300 |a 1 online resource (84 pages) 
490 1 |a IMF Working Papers 
500 |a <strong>Off-Campus Access:</strong> No User ID or Password Required 
500 |a <strong>On-Campus Access:</strong> No User ID or Password Required 
506 |a Electronic access restricted to authorized BRAC University faculty, staff and students 
520 3 |a A two-country theoretical model is presented, showing the effects of monetary, fiscal, and supply-side disturbances on prices of primary commodities and manufactured goods, and on exchange rates. If monetary shocks dominate, then commodity prices should lead general price movements, and the level of commodity prices should be correlated with the general inflation rate. Country-specific commodity price indexes are developed for the major industrial countries. Several empirical tests broadly support the conclusions of the model. Commodity price levels tend to be cointegrated with consumer-price inflation rates. Commodity price movements contribute weakly to predictions of inflation rates but more strongly to predictions of turning points in inflation. 
538 |a Mode of access: Internet 
830 0 |a IMF Working Papers; Working Paper ;  |v No. 1989/072 
856 4 0 |z Full text available on IMF  |u http://elibrary.imf.org/view/journals/001/1989/072/001.1989.issue-072-en.xml  |z IMF e-Library