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Commodity Prices and Markets
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Commodity Prices and Markets

Takatoshi Ito and Andrew K. Rose

Abstract

Fluctuations of commodity prices, most notably of oil, capture considerable attention and have been tied to important economic effects, such as inflation and low rates of economic growth. 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 book addresses three distinct subjects: the difficulties in forecasting commodity prices, the effects of exogenous commodity price shocks on the domestic economy, and the relationship between price shocks and monetary policy. The abilit ... More

Keywords: commodity prices, oil prices, economic growth, domestic economy, economic effects, currencies

Bibliographic Information

Print publication date: 2011 Print ISBN-13: 9780226386898
Published to Chicago Scholarship Online: February 2013 DOI:10.7208/chicago/9780226386904.001.0001

Authors

Affiliations are at time of print publication.

Takatoshi Ito, editor

Andrew K. Rose, editor

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Contents

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Introduction

Takatoshi Ito and Andrew K. Rose

I Forecasting Currencies with Commodity Prices

II Commodity Prices, the Terms of Trade, and Exchange Rates

4 The Consumption Terms of Trade and Commodity Prices

Martin Berka and Mario J. Crucini

III “Pass-Through” of Commodity Prices to the General Price Level

IV Macroeconomic Effects of Oil Prices

8 OIl Oil and Macroeconomy

Junhee Lee and Joonhyuk Song