Commodity And Manufactures Prices In The Long Run
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Author | : Mr.James M. Boughton |
Publisher | : International Monetary Fund |
Total Pages | : 40 |
Release | : 1991-05-01 |
Genre | : Business & Economics |
ISBN | : 1451972857 |
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The low level of primary commodity prices since 1985 is examined in the context of the behavior of those prices relative to prices of manufactured goods since 1854. The Prebisch-Singer hypothesis of a secular decline in relative commodity prices is sustained, but the recent decline is shown to be well outside the realm of historical experience. Commodity and manufactures prices are found to be cointegrated, conditional on the negative trend and a number of unexplained short-term swings. The earlier finding of a Gibson paradox is explained in terms of the difference between short- and long-run relationships.
Author | : James M. Boughton |
Publisher | : |
Total Pages | : 40 |
Release | : 2006 |
Genre | : |
ISBN | : |
Download Commodity and Manufactures Prices in the Long Run Book in PDF, Epub and Kindle
The low level of primary commodity prices since 1985 is examined in the context of the behavior of those prices relative to prices of manufactured goods since 1854. The Prebisch-Singer hypothesis of a secular decline in relative commodity prices is sustained, but the recent decline is shown to be well outside the realm of historical experience. Commodity and manufactures prices are found to be cointegrated, conditional on the negative trend and a number of unexplained short-term swings. The earlier finding of a Gibson paradox is explained in terms of the difference between short- and long-run relationships.
Author | : Pier Giorgio Ardeni |
Publisher | : World Bank Publications |
Total Pages | : 60 |
Release | : 1990 |
Genre | : Commodity futures |
ISBN | : |
Download The Long-term Behavior of Commodity Prices Book in PDF, Epub and Kindle
Author | : Theodosios B. Palaskas |
Publisher | : World Bank Publications |
Total Pages | : 57 |
Release | : 1989 |
Genre | : Macroeconomia |
ISBN | : |
Download Primary Commodity Prices and Macroeconomic Variables Book in PDF, Epub and Kindle
Author | : Takatoshi Ito |
Publisher | : University of Chicago Press |
Total Pages | : 346 |
Release | : 2011-03 |
Genre | : Business & Economics |
ISBN | : 0226386899 |
Download Commodity Prices and Markets Book in PDF, Epub and Kindle
Fluctuations of commodity prices, most notably of oil, capture considerable attention and have been tied to important economic effects. This book advances our understanding of the consequences of these fluctuations, providing both general analysis and a particular focus on the countries of the Pacific Rim.
Author | : Roman Grynberg |
Publisher | : OUP Oxford |
Total Pages | : 368 |
Release | : 2007-11-01 |
Genre | : Business & Economics |
ISBN | : 0191528560 |
Download Commodity Prices and Development Book in PDF, Epub and Kindle
More than 50 developing countries depend on three or fewer commodities for more than half of their exports and, in fact, many rely on a single commodity for a large share of export earnings. This reliance inevitability exposes countries to the risk of export earnings instability as a result of price shocks and, perhaps even more significantly, the falling purchasing power of exports over the long run due to declining real prices. Presenting for the first time a complete analysis of the issues surrounding commodity prices and development, this book is the culmination of three years of research commissioned by the Commonwealth Secretariat to look at various aspects of commodity prices. The problems faced by commodity dependent developing countries are formidable. Although diversification is the most appropriate response to the problem of the secular decline in commodity prices, long-term transformation in the economy can be a slow process and its success will depend on a host of factors such as the development of human resources, institutional capacity building, poverty alleviation, and appropriate domestic policy and environment. By granting increased aid flows and debt relief, and providing assistance to encourage production of non-traditional export items, the international community can play a proactive role in the development of the commodity dependent poor countries. Only concerted efforts both at the domestic fronts of these countries and via co-operation extended by the international community can help mitigate the problems of the world's most vulnerable economies.
Author | : Ms.Hong Liang |
Publisher | : International Monetary Fund |
Total Pages | : 22 |
Release | : 1998-12-01 |
Genre | : Business & Economics |
ISBN | : 1451980639 |
Download The Volatility of the Relative Price of Commodities In Terms of Manufactures Across Exchange Regimes Book in PDF, Epub and Kindle
This paper investigates the relationship between the nominal exchange rate regime and the volatility of relative commodity prices. The analysis shows that the relationship depends upon both the market structure and the economic agent’s perception about future exchange rate movements. When the markets for manufactured goods are less competitive than the markets for primary commodities, the volatility of relative commodity prices rises when exchange rate uncertainty increases. If demand for manufactured goods is intertemporally dependent, even a small increase in exchange rate uncertainty can result in potentially large costs in terms of increased relative commodity price instability.
Author | : Matthias Lutz |
Publisher | : |
Total Pages | : 17 |
Release | : 1996 |
Genre | : Manufactures |
ISBN | : |
Download Primary Commodity and Manufactured Goods Prices in the Long Run Book in PDF, Epub and Kindle
Author | : Javier León |
Publisher | : World Bank Publications |
Total Pages | : 36 |
Release | : 1995 |
Genre | : Commodity control |
ISBN | : |
Download Structural Breaks and Long-run Trends in Commodity Prices Book in PDF, Epub and Kindle
Author | : Paul Cashin |
Publisher | : |
Total Pages | : 34 |
Release | : 2001 |
Genre | : Primary commodities |
ISBN | : |
Download The Long-run Behavior of Commodity Prices Book in PDF, Epub and Kindle