G2TT
来源类型Discussion paper
规范类型论文
来源IDDP16526
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
URLhttps://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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