| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP319 |
| DP319 Commodity Prices, Financial Markets and World Income: A Structural Rational Expectations Model | |
| David Vines; Prathap Ramanujam | |
| 发表日期 | 1989-06-01 |
| 出版年 | 1989 |
| 语种 | 英语 |
| 摘要 | In this we specify and jointly estimate supply, demand and price equations for four aggregate commodity groups: food, beverages, agricultural raw materials and metals. This simple structural model allows us, for each group of commodities, to incorporate stock data for the first time, and to include forward-looking expectations. Estimates of this new model reveal that industrial production in developed countries has large and significant short-run effects on the demand for primary commodities. The estimates also suggest (but cannot definitely confirm) that industrial production in developed countries has large permanent effects: these effects differ across the commodity groups for plausible reasons. |
| 主题 | International Macroeconomics ; International Trade and Regional Economics |
| 关键词 | Commodities Developed countries Speculation Stock prices |
| URL | https://cepr.org/publications/dp319 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/529473 |
| 推荐引用方式 GB/T 7714 | David Vines,Prathap Ramanujam. DP319 Commodity Prices, Financial Markets and World Income: A Structural Rational Expectations Model. 1989. |
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