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
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 ability to forecast commodity prices is difficult but of great importance to businesses and governments.
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 |
