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Critical Raw Materials Index -CRMI

Author

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  • Jean-Baptiste Hasse

    (AMSE - Aix-Marseille Sciences Economiques - EHESS - École des hautes études en sciences sociales - AMU - Aix Marseille Université - ECM - École Centrale de Marseille - CNRS - Centre National de la Recherche Scientifique, UCL - Université Catholique de Louvain = Catholic University of Louvain)

  • Capucine Nobletz

    (Centre de recherche de la Banque de France - Banque de France)

Abstract

In this paper, we present a critical raw materials index (CRMI) that represents the price dynamics of the raw materials required for the low-carbon transition. Using a unique market and trade dataset covering 29 critical raw materials from 2012 to 2023, we construct a weekly trade weighted price index following a robust methodological framework. The relevance of our index is demonstrated through a validation process including a plausibility analysis and a comparability analysis. In addition, a sensitivity analysis provides empirical evidence of the robustness of our index to alternative data treatment, weighting factors and weighting schemes. Our framework offers policymakers a useful price benchmark to track the underlying metal market dynamics required by the growing clean energy sectors.

Suggested Citation

  • Jean-Baptiste Hasse & Capucine Nobletz, 2024. "Critical Raw Materials Index -CRMI," Working Papers hal-04759077, HAL.
    • Handle: RePEc:hal:wpaper:hal-04759077
    Note: View the original document on HAL open archive server: https://hal.science/hal-04759077v1
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    References listed on IDEAS

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    More about this item

    Keywords

    Critical Raw Materials Index (CRMI); Energy Transition; Index Construction; Metal prices;
    All these keywords.

    JEL classification:

    • C43 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Index Numbers and Aggregation
    • Q3 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation
    • Q4 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy
    • Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters and their Management; Global Warming

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