Jump to ContentJump to Main Navigation
Commodity Prices and Markets$
Users without a subscription are not able to see the full content.

Takatoshi Ito and Andrew K. Rose

Print publication date: 2011

Print ISBN-13: 9780226386898

Published to Chicago Scholarship Online: February 2013

DOI: 10.7208/chicago/9780226386904.001.0001

Show Summary Details
Page of

PRINTED FROM CHICAGO SCHOLARSHIP ONLINE (www.chicago.universitypressscholarship.com). (c) Copyright University of Chicago Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in CHSO for personal use.date: 24 September 2021

The Consumption Terms of Trade and Commodity Prices

The Consumption Terms of Trade and Commodity Prices

(p.119) 4 The Consumption Terms of Trade and Commodity Prices
Commodity Prices and Markets

Martin Berka

Mario J. Crucini

University of Chicago Press

This chapter conducts a forensic analysis of the sources of terms of trade variation of thirty-eight countries, over the period 1990 to 2005. The microprice data from the Economist Intelligence Unit (EIU) is used to parse the variance of the aggregate terms of trade into the contributions of individual goods. The commodity-level retail price inflation and price level inflation for the world as a whole is studied. This is accomplished by averaging U.S. dollar prices of individual goods and services across as many cities as available in the Economist Intelligence Unit retail price survey, the source of the consumer price data used here. The standard deviations of these commodity-level inflation rates range from a low of 3.7% to a high of 11%. The consumption terms of trade at local prices using local retail prices to measure the import and export prices rather than world prices are also elaborated.

Keywords:   trade, commodity prices, Economist Intelligence Unit, EIU, inflation rates, retail prices, export prices

Chicago Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.

Please, subscribe or login to access full text content.

If you think you should have access to this title, please contact your librarian.

To troubleshoot, please check our FAQs, and if you can't find the answer there, please contact us.