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International risk sharing and commodity prices

Author

Listed:
  • Martin Berka
  • Mario J Crucini
  • Chih-Wei Wang

Abstract

The heterogeneity of business cycles across countries outside the large industrialized ones is vast. The hypothesis put forward here is that a substantial fraction of this heterogeneity reflects a concentration of exports in a single or very few primary commodities.

Suggested Citation

  • Martin Berka & Mario J Crucini & Chih-Wei Wang, 2011. "International risk sharing and commodity prices," CAMA Working Papers 2011-34, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
    • Handle: RePEc:een:camaaa:2011-34
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    File URL: https://cama.crawford.anu.edu.au/sites/default/files/publication/cama_crawford_anu_edu_au/2021-06/34_berka_crucini_wang_2011.pdf
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    2. Markus K. Brunnermeier & Yuliy Sannikov, 2015. "International Credit Flows and Pecuniary Externalities," American Economic Journal: Macroeconomics, American Economic Association, vol. 7(1), pages 297-338, January.
    3. Devereux, Michael B. & Kollmann, Robert, 2012. "International Risk Sharing," MPRA Paper 70129, University Library of Munich, Germany.
    4. Hansen, James & Gross, Isaac, 2018. "Commodity price volatility with endogenous natural resources," European Economic Review, Elsevier, vol. 101(C), pages 157-180.
    5. Asdrubali, Pierfederico & Kim, Soyoung & Pericoli, Filippo Maria & Poncela, Pilar, 2023. "Risk sharing channels in OECD countries: A heterogeneous panel VAR approach," Journal of International Money and Finance, Elsevier, vol. 131(C).
    6. Llosa, Luis-Gonzalo, 2013. "How Do Terms of Trade Affect Productivity? The Role of Monopolistic Output Markets," Working Papers 2013-007, Banco Central de Reserva del Perú.
    7. Do, Hang & Duong, Kiet Tuan & Huynh, Luu Duc Toan & Vu, Nam T., 2025. "The Real effects of Brexit on labor demand: Evidence from firm-level data," Journal of International Economics, Elsevier, vol. 157(C).
    8. Kabrt, Tomas, 2024. "The economic implications of population aging on current account balance," Economic Analysis and Policy, Elsevier, vol. 84(C), pages 1895-1909.
    9. Saif Al-Abri, Almukhtar, 2014. "How does terms-of-trade behavior shape international financial integration in primary-commodity exporting economies?," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 33(C), pages 335-353.
    10. Jorge Toro & Aarón Garavito & David Camilo López & Enrique Montes, 2015. "El choque petrolero y sus implicaciones en la economía colombiana," Borradores de Economia 906, Banco de la Republica de Colombia.

    More about this item

    JEL classification:

    • F3 - International Economics - - International Finance
    • F4 - International Economics - - Macroeconomic Aspects of International Trade and Finance

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