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来源类型 | Discussion paper |
规范类型 | 论文 |
来源ID | DP16526 |
DP16526 Commodity Prices and Global Inflation, 1851-1913 | |
Stefan Gerlach; Rebecca Stuart | |
发表日期 | 2021-09-09 |
出版年 | 2021 |
语种 | 英语 |
摘要 | This paper uses annual data to study the interaction of consumer and commodity prices in 15 economies over the period 1850-1913. We find that consumer price inflation in all 15 countries co-moves with a broad measure of changes in commodity prices. Consumer prices comove most strongly with changes in metal prices, in particular pig iron prices. Furthermore, changes in pig iron prices and production, which have attracted much attention in the literature on 19th century US business cycles, co-move with the international business cycle, suggesting that pig iron prices offer a transmission channel through which international business cycle movements affect inflation. |
主题 | Economic History ; Monetary Economics and Fluctuations |
关键词 | Commodity prices Gold standard Global inflation Pig iron |
URL | https://cepr.org/publications/dp16526 |
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/545480 |
推荐引用方式 GB/T 7714 | Stefan Gerlach,Rebecca Stuart. DP16526 Commodity Prices and Global Inflation, 1851-1913. 2021. |
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