Trends in Natural Resource Commodity Prices in Australia
AbstractIn this paper we examine the trends in the prices of natural resource commodities in Australia. The existing literature predicts rising prices for minerals, indicative of scarcity. We present a menu of tests to characterise the observed trends in the prices of 12 resources and do not find any such general trend. Of the 12 series examined, only one is stationary in levels. Of the 11 non stationary price series 4 show a positive trend. The rest are either negative or stochastic. We also examine the behaviour of the All Resources Index, which is a measure of the aggregate activity in the natural resources sector in the country.
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Bibliographic InfoPaper provided by The University of Melbourne in its series Department of Economics - Working Papers Series with number 646.
Length: 17 pages
Date of creation: 1998
Date of revision:
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Postal: Department of Economics, The University of Melbourne, 5th Floor, Economics and Commerce Building, Victoria, 3010, Australia
Phone: +61 3 8344 5289
Fax: +61 3 8344 6899
Web page: http://www.economics.unimelb.edu.au
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PRICES ; NATURAL RESOURCES;
Find related papers by JEL classification:
- Q30 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - General
- D40 - Microeconomics - - Market Structure and Pricing - - - General
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- Randall, Alan, 2008. "Is Australia on a sustainability path? Interpreting the clues," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 52(1), March.
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