Front Matter Page
Research Department
Contents
I. Introduction
II. The Theoretical Framework
III. Comparative Statics
1. A rise in government spending
2. An increase in world commodity supplies
IV. The Joint Determination of Commodity Prices and the Real Exchange Rate
1. Modeling commodity prices: single-equation approach
2. Hausman test
3. A Model of real commodity prices and real exchange rate
4. Independently assessing the parameters of the model
5. Forecasting ability
V. Implications and Shortcomings of the Model
Appendix A: Variable Definitions
Appendix B: The Time-Series Properties of the Left-Hand-Side Variables
References
Figures
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