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The Behavior of Non-Oil Commodity Prices

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  • Eduardo Borensztein
  • Peter Wickham
  • Mohsin S. Khan
  • Carmen Reinhart

Abstract

This paper analyzes global commodity trends and concludes that the marked decline in real commodity prices of the past decade should be regarded as largely permanent and irreversible. The authors contend that the analysis of commodity prices should be extended to include the role of the breakdown of major international commodity agreements. In addition, the authors analyze how developments in the former Soviet Union have affected commodity supply conditions.

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Bibliographic Info

Paper provided by International Monetary Fund in its series IMF Occasional Papers with number 112.

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Length: 77
Date of creation: 15 Sep 1994
Date of revision:
Handle: RePEc:imf:imfocp:112

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  1. Deaton, Angus & Laroque, Guy, 1992. "On the Behaviour of Commodity Prices," Review of Economic Studies, Wiley Blackwell, Wiley Blackwell, vol. 59(1), pages 1-23, January.
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Cited by:
  1. Bonilla, Eugenio Diaz, 2008. "Global macroeconomic developments and poverty:," IFPRI discussion papers, International Food Policy Research Institute (IFPRI) 766, International Food Policy Research Institute (IFPRI).
  2. Luis Eduardo Arango & Fernando Arias & Luz Adriana Flórez, . "Trends, Fluctuations, and Determinants of Commodity Prices," Borradores de Economia 521, Banco de la Republica de Colombia.
  3. Daniel Cohen & Thibault Fally & Sébastien Villemot, 2007. "Commodity Funds: How To Fix Them?," OECD Development Centre Policy Briefs, OECD Publishing 32, OECD Publishing.
  4. Luis Eduardo Arango & Ximena Chavarro & Eliana Rocío González, 2012. "Precios de bienes primarios e inflación en Colombia," Borradores de Economia 712, Banco de la Republica de Colombia.
  5. Paul Cashin & C John McDermott & Alasdair Scott, 1999. "Booms and slumps in world commodity prices," Reserve Bank of New Zealand Discussion Paper Series G99/8, Reserve Bank of New Zealand.
  6. Westerhoff, Frank & Wieland, Cristian, 2010. "A behavioral cobweb-like commodity market model with heterogeneous speculators," Economic Modelling, Elsevier, Elsevier, vol. 27(5), pages 1136-1143, September.
  7. Sapsford, David & Singer, Hans, 1998. "The IMF, the world bank and commodity prices: A case of shifting sands?," World Development, Elsevier, Elsevier, vol. 26(9), pages 1653-1660, September.
  8. Plourde, André & Watkins, G. C., 1998. "Crude oil prices between 1985 and 1994: how volatile in relation to other commodities?," Resource and Energy Economics, Elsevier, Elsevier, vol. 20(3), pages 245-262, September.
  9. Paul Cashin & Hong Liang & C. John McDermott, 2000. "How Persistent Are Shocks to World Commodity Prices?," IMF Staff Papers, Palgrave Macmillan, vol. 47(2), pages 2.
  10. Peretto, Pietro F. & Valente, Simone, 2011. "Resources, innovation and growth in the global economy," Journal of Monetary Economics, Elsevier, Elsevier, vol. 58(4), pages 387-399.
  11. Dieci, Roberto & Westerhoff, Frank, 2010. "Interacting cobweb markets," Journal of Economic Behavior & Organization, Elsevier, Elsevier, vol. 75(3), pages 461-481, September.
  12. Cristian Wieland & Frank Westerhoff, 2004. "A behavioral cobweb model with heterogeneous speculators," Computing in Economics and Finance 2004, Society for Computational Economics 171, Society for Computational Economics.

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