The Relative Volatility of Commodity Prices
Title | The Relative Volatility of Commodity Prices PDF eBook |
Author | Mr.Rabah Arezki |
Publisher | International Monetary Fund |
Pages | 23 |
Release | 2011-12-01 |
Genre | Business & Economics |
ISBN | 1463925964 |
This paper studies the volatility of commodity prices on the basis of a large dataset of monthly prices observed in international trade data from the United States over the period 2002 to 2011. The conventional wisdom in academia and policy circles is that primary commodity prices are more volatile than those of manufactured products, even though most of the existing evidence does not actually attempt to measure the volatility of prices of individual goods or commodities. Rather the literature tends to focus on trends in the evolution and volatility of ratios of price indexes composed of multiple commodities and products. This approach can be misleading. Indeed, the evidence presented in this paper suggests that on average prices of individual primary commodities may be less volatile than those of individual manufactured goods.
Food Price Volatility and Its Implications for Food Security and Policy
Title | Food Price Volatility and Its Implications for Food Security and Policy PDF eBook |
Author | Matthias Kalkuhl |
Publisher | Springer |
Pages | 620 |
Release | 2016-04-12 |
Genre | Business & Economics |
ISBN | 3319282018 |
This book provides fresh insights into concepts, methods and new research findings on the causes of excessive food price volatility. It also discusses the implications for food security and policy responses to mitigate excessive volatility. The approaches applied by the contributors range from on-the-ground surveys, to panel econometrics and innovative high-frequency time series analysis as well as computational economics methods. It offers policy analysts and decision-makers guidance on dealing with extreme volatility.
Commodity Prices and Markets
Title | Commodity Prices and Markets PDF eBook |
Author | Takatoshi Ito |
Publisher | University of Chicago Press |
Pages | 346 |
Release | 2011-03 |
Genre | Business & Economics |
ISBN | 0226386899 |
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.
The Relative Volatility of Commodity Prices
Title | The Relative Volatility of Commodity Prices PDF eBook |
Author | Arezki |
Publisher | |
Pages | 0 |
Release | 2013 |
Genre | |
ISBN |
The Volatility of the Relative Price of Commodities In Terms of Manufactures Across Exchange Regimes
Title | The Volatility of the Relative Price of Commodities In Terms of Manufactures Across Exchange Regimes PDF eBook |
Author | Ms.Hong Liang |
Publisher | International Monetary Fund |
Pages | 22 |
Release | 1998-12-01 |
Genre | Business & Economics |
ISBN | 1451980639 |
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.
Commodity Price Dynamics
Title | Commodity Price Dynamics PDF eBook |
Author | Craig Pirrong |
Publisher | Cambridge University Press |
Pages | 239 |
Release | 2011-10-31 |
Genre | Business & Economics |
ISBN | 1139501976 |
Commodities have become an important component of many investors' portfolios and the focus of much political controversy over the past decade. This book utilizes structural models to provide a better understanding of how commodities' prices behave and what drives them. It exploits differences across commodities and examines a variety of predictions of the models to identify where they work and where they fail. The findings of the analysis are useful to scholars, traders and policy makers who want to better understand often puzzling - and extreme - movements in the prices of commodities from aluminium to oil to soybeans to zinc.
The Relative Volatility of Commodity Prices
Title | The Relative Volatility of Commodity Prices PDF eBook |
Author | Rabah Arezki |
Publisher | |
Pages | 31 |
Release | 2017 |
Genre | |
ISBN |
This paper studies the volatility of commodity prices on the basis of a large dataset of monthly prices observed in international trade data from the United States over the period 2002 to 2011. The conventional wisdom in academia and policy circles is that primary commodity prices are more volatile than those of manufactured products, although most of the existing evidence does not actually attempt to measure the volatility of prices of individual goods or commodities. The literature tends to focus on trends in the evolution and volatility of ratios of price indexes composed of multiple commodities and products. This approach can be misleading. Indeed, the evidence presented in this paper suggests that on average prices of individual primary commodities are less volatile than those of individual manufactured goods. However, the challenges of managing terms of trade volatility in developing countries with concentrated export baskets remain.