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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 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...

The Volatility of the Relative Price of Commodities In Terms of Manufactures Across Exchange Regimes

The Volatility of the Relative Price of Commodities In Terms of Manufactures Across Exchange Regimes »

Source: The Volatility of the Relative Price of Commodities In Terms of Manufactures Across Exchange Regimes : A Theoretical Model

Volume/Issue: 1998/163

Series: IMF Working Papers

Author(s): Hong Liang

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 1998

ISBN: 9781451980639

Keywords: Relative commodity price, exchange regimes, exchange rate pass-through, exchange rate, exchange rates, exchange rate regime, exchange rate regimes, commodity prices

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...

Macroeconomic Stability in Resource-Rich Countries

Macroeconomic Stability in Resource-Rich Countries »

Source: Macroeconomic Stability in Resource-Rich Countries

Volume/Issue: 2016/36

Series: IMF Working Papers

Author(s): Elva Bova , Paulo Medas , and Tigran Poghosyan

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 23 February 2016

ISBN: 9781475596465

Keywords: resource-rich countries, procyclical fiscal policy, commodity, prices, price, fiscal policy, General, Models with Panel Data, All Countries,, Natural resources

Resource-rich countries face large and persistent shocks, especially coming from volatile commodity prices. Given the severity of the shocks, it would be expected that these countries adopt countercyclical fiscal p...

Measures of Fiscal Risk in  Hydrocarbon-Exporting Countries

Measures of Fiscal Risk in Hydrocarbon-Exporting Countries »

Source: Measures of Fiscal Risk in Hydrocarbon-Exporting Countries

Volume/Issue: 2012/260

Series: IMF Working Papers

Author(s): Carlos Caceres , and Leandro Medina

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 October 2012

ISBN: 9781475530162

Keywords: stochastic simulations, volatility, break-even prices, exporting countries, commodity prices, break-even prices., Forecasting and Other Model Applications, Financial Forecasting and Simulation, General, Government Policy,

The recent relatively high levels of global oil prices have led to a significant improvement in the public finances of several hydrocarbon-exporting countries. However, despite the increase in fiscal buffers, mediu...

Testing the Prebisch-Singer Hypothesis since 1650

Testing the Prebisch-Singer Hypothesis since 1650 »

Source: Testing the Prebisch-Singer Hypothesis since 1650 : Evidence from Panel Techniques that Allow for Multiple Breaks

Volume/Issue: 2013/180

Series: IMF Working Papers

Author(s): Rabah Arezki , Kaddour Hadri , Prakash Loungani , and Yao Rao

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 August 2013

ISBN: 9781484341155

Keywords: Primary, commodities, Unit, root tests, Multiple, Structural breaks, Volatility, commodity markets, price fluctuations, transport costs

In this paper, we re-examine two important aspects of the dynamics of relative primary commodity prices, namely the secular trend and the short run volatility. To do so, we employ 25 series, some of them starting a...

Macro-Hedging for Commodity Exporters

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

DOI: http://dx.doi.org/10.5089/9781451873764.001

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 Price Shocks and Financial Sector Fragility

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

DOI: http://dx.doi.org/10.5089/9781498328722.001

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...

The Volatility of the Relative Price of Commodities In Terms of Manufactures Across Exchange Regimes
			: A Theoretical Model

The Volatility of the Relative Price of Commodities In Terms of Manufactures Across Exchange Regimes : A Theoretical Model »

Volume/Issue: 1998/163

Series: IMF Working Papers

Author(s): Hong Liang

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 1998

DOI: http://dx.doi.org/10.5089/9781451980639.001

ISBN: 9781451980639

Keywords: Relative commodity price, exchange regimes, exchange rate pass-through, exchange rate, exchange rates, exchange rate regime, exchange rate regimes, commodity prices

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...

Macroeconomic Stability in Resource-Rich Countries

Macroeconomic Stability in Resource-Rich Countries »

Volume/Issue: 2016/36

Series: IMF Working Papers

Author(s): Elva Bova , Paulo Medas , and Tigran Poghosyan

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 23 February 2016

DOI: http://dx.doi.org/10.5089/9781475596465.001

ISBN: 9781475596465

Keywords: resource-rich countries, procyclical fiscal policy, commodity, prices, price, fiscal policy, General, Models with Panel Data, All Countries,, Natural resources

Resource-rich countries face large and persistent shocks, especially coming from volatile commodity prices. Given the severity of the shocks, it would be expected that these countries adopt countercyclical fiscal p...