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Commodity Terms of Trade

Commodity Terms of Trade »

Source: Commodity Terms of Trade : A New Database

Volume/Issue: 2019/21

Series: IMF Working Papers

Author(s): Bertrand Gruss , and Suhaib Kebhaj

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 January 2019

ISBN: 9781484393857

Keywords: Commodity terms of trade; terms of trade; commodity prices, Commodity terms of trade, terms of trade, commodity prices, General

This paper presents a comprehensive database of country-specific commodity price indices for 182 economies covering the period 1962-2018. For each country, the change in the international price of up to 45 individu...

The Macroeconomic Determinants of Commodity Prices

The Macroeconomic Determinants of Commodity Prices »

Source: The Macroeconomic Determinants of Commodity Prices

Volume/Issue: 1994/9

Series: IMF Working Papers

Author(s): Eduardo Borensztein , and Carmen Reinhart

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 1994

ISBN: 9781451927221

Keywords: commodity prices, equation, statistics, random walk, forecasting

The “traditional structural approach” to the determination of real commodity prices has relied exclusively on demand factors as the fundamentals that explain the behavior of commodity prices. This fra...

Commodity Prices

Commodity Prices »

Source: Commodity Prices : Cyclical Weakness or Secular Decline?

Volume/Issue: 1994/7

Series: IMF Working Papers

Author(s): Peter Wickham , and Carmen Reinhart

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 1994

ISBN: 9781451842371

Keywords: commodity prices, export earnings, hedging, terms of trade, commodity agreements

Primary commodities still account for the bulk of exports in many developing countries. However, real commodity prices have been declining almost continuously since the early 1980s and there is evidence of renewed...

Macro-Hedging for Commodity Exporters1

Macro-Hedging for Commodity Exporters1 »

Source: Macro-Hedging for Commodity Exporters

Volume/Issue: 2009/229

Series: IMF Working Papers

Author(s): Eduardo Borensztein , Damiano Sandri , and Olivier Jeanne

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 2009

ISBN: 9781451873764

Keywords: commodity exports, hedging instruments, forward contracts, open interest, commodity prices,

This paper uses a dynamic optimization model to estimate the welfare gains of hedging against commodity price risk for commodity-exporting countries. The introduction of hedging instruments such as futures and opti...

Commodity Prices As a Leading Indicator of Inflation

Commodity Prices As a Leading Indicator of Inflation »

Source: Commodity Prices As a Leading Indicator of Inflation

Volume/Issue: 1988/87

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 03 October 1988

ISBN: 9781451953084

Keywords: commodity prices, inflation, inflation rate, price inflation, excess demand

Commodity prices may be a leading indicator of inflation, because of the relative importance of flexible auction markets for the determination of these prices. Empirical tests using data for the large industrial co...

Commodity Price Shocks and Fiscal Outcomes

Commodity Price Shocks and Fiscal Outcomes »

Source: Commodity Price Shocks and Fiscal Outcomes

Volume/Issue: 2012/112

Series: IMF Working Papers

Author(s): Issouf Samaké , and Nicola Spatafora

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2012

ISBN: 9781475503333

Keywords: Commodity Booms, export prices, commodity export, commodity exporters, exporters, import prices, Macroeconomic Aspects of International Trade and Finance: General,

The experience of developing countries over 1990-2010 indicates that commodity prices have a significant impact on fiscal outcomes. Both revenue and expenditure rise in response to commodity (import or export) pric...

Commodity Price Cycles

Commodity Price Cycles »

Source: Commodity Price Cycles : The Perils of Mismanaging the Boom

Volume/Issue: 2011/283

Series: IMF Working Papers

Author(s): Sebastian Sosa , and Gustavo Adler

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2011

ISBN: 9781463926649

Keywords: Commodity prices, terms of trade, economic policies, commodity exports, trade shocks, terms of trade shocks, Commodity Price Cycles,

Commodity-exporting countries have significantly benefited from the commodity price boom of recent years. At the current juncture, however, uncertain global economic prospects have raised questions about their vuln...

Booms and Slumps in World Commodity Prices

Booms and Slumps in World Commodity Prices »

Source: Booms and Slumps in World Commodity Prices

Volume/Issue: 1999/155

Series: IMF Working Papers

Author(s): C. McDermott , Paul Cashin , and Alasdair Scott

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 November 1999

ISBN: 9781451857290

Keywords: Commodity prices, booms and slumps, cycles, duration, amplitude., london metal exchange, oil prices, commodity markets, import price

This paper examines the duration and magnitude of commodity-price cycles. It finds that for most commodities, price slumps last longer than price booms. How far prices fall in a slump is found to be slightly larger...

Commodity Price Shocks and Financial Sector Fragility

Commodity Price Shocks and Financial Sector Fragility »

Source: Commodity Price Shocks and Financial Sector Fragility

Volume/Issue: 2016/12

Series: IMF Working Papers

Author(s): Tidiane Kinda , Montfort Mlachila , and Rasmané Ouedraogo

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 2016

ISBN: 9781498328722

Keywords: financial sector fragility, commodity, price, commodity price, prices, financial sector, General, Financial Markets and the Macroeconomy, Government Policy and Regulation, All Countries

This paper investigates the impact of commodity price shocks on financial sector fragility. Using a large sample of 71 commodity exporters among emerging and developing economies, it shows that negative shocks to c...

Commodities and the Market Price of Risk

Commodities and the Market Price of Risk »

Source: Commodities and the Market Price of Risk

Volume/Issue: 2008/221

Series: IMF Working Papers

Author(s): Shaun Roache

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 2008

ISBN: 9781451870794

Keywords: Asset pricing, Futures pricing., commodity futures, investors, risk premium, hedge, risk exposure, futures pricing,

Commodities are back following a stellar run of price performance, attracting financial investor attention. What are the fundamental reasons to hold commodities? One reason is the exposure offered to underlying ris...