This paper documents a new “stylized fact ” regarding the relative price of primary commodities in terms of manufactured goods. Using alternative data sets covering the period from 1880 to 1996, this key relative price among two categories of tradable goods is shown to exhibit greater volatility under flexible-exchange rate regimes than fixed-exchange rate regimes. Implications of this finding for open-economy macro modeling are briefly discussed. Key words: commodity prices; price volatility; exchange rate regimes; time series model
This study explores the impact of commodity price volatility on external debt accumulation under fix...
In an influential paper Engel (1999. Accounting for U.S. Real Exchange Rate Changes, Journal of Poli...
International audienceThe aim of this paper is to contribute to the existing literature by exploring...
This paper studies the volatility of commodity prices on the basis of a large dataset of monthly pri...
A significant proportion of the trade basket of many developing countries is comprised of primary co...
ovements in relative prices play a large role in economic fluctuations, particularly in emerging eco...
This paper applies new time-series procedures to examine the Prebisch-Singer hypothesis of a secular...
This paper examines whether the real exchange rates of commodity-exporting developing countries move...
It is a well-documented fact that changes in exchange rates are very difficult to explain using mac...
Abstract-Poor countries are more volatile than rich countries, and this volatility impedes their gro...
This paper develops an economic analysis of commodity price dynamics and price volatility. The appro...
A significant proportion of the trade basket of many developing countries is comprised of primary co...
This paper examines the hypothesis that commodity price trends are useful indicators of OECD price d...
We estimate a model of common and commodity-specific, high- and low-frequency factors, built on the ...
International audienceWe revisit the Prebisch–Singer hypothesis of a secular decline in the terms of...
This study explores the impact of commodity price volatility on external debt accumulation under fix...
In an influential paper Engel (1999. Accounting for U.S. Real Exchange Rate Changes, Journal of Poli...
International audienceThe aim of this paper is to contribute to the existing literature by exploring...
This paper studies the volatility of commodity prices on the basis of a large dataset of monthly pri...
A significant proportion of the trade basket of many developing countries is comprised of primary co...
ovements in relative prices play a large role in economic fluctuations, particularly in emerging eco...
This paper applies new time-series procedures to examine the Prebisch-Singer hypothesis of a secular...
This paper examines whether the real exchange rates of commodity-exporting developing countries move...
It is a well-documented fact that changes in exchange rates are very difficult to explain using mac...
Abstract-Poor countries are more volatile than rich countries, and this volatility impedes their gro...
This paper develops an economic analysis of commodity price dynamics and price volatility. The appro...
A significant proportion of the trade basket of many developing countries is comprised of primary co...
This paper examines the hypothesis that commodity price trends are useful indicators of OECD price d...
We estimate a model of common and commodity-specific, high- and low-frequency factors, built on the ...
International audienceWe revisit the Prebisch–Singer hypothesis of a secular decline in the terms of...
This study explores the impact of commodity price volatility on external debt accumulation under fix...
In an influential paper Engel (1999. Accounting for U.S. Real Exchange Rate Changes, Journal of Poli...
International audienceThe aim of this paper is to contribute to the existing literature by exploring...