Source: A Barrel of Oil or a Bottle of Wine : How Do Global Growth Dynamics Affect Commodity Prices?
Series: IMF Working Papers
Author(s): Tahsin Saadi Sedik , and Serhan Cevik
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 January 2011
Keywords: Wine, Comovement, Global growth, Emerging economies, crude oil, oil demand, Nonrenewable Resources and Conservation: Other, Energy: Demand and Supply, Energy and the Macroeconomy,
This paper investigates the causes of extreme fluctuations in commodity prices from 1990 to 2010. Analyzing two very distinct commodities-crude oil and fine wine, we find that macroeconomic factors are the main det...