| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w20003 |
| 来源ID | Working Paper 20003 |
| Commodity-Price Comovement and Global Economic Activity | |
| Ron Alquist; Saroj Bhattarai; Olivier Coibion | |
| 发表日期 | 2014-03-20 |
| 出版年 | 2014 |
| 语种 | 英语 |
| 摘要 | Guided by a macroeconomic model in which commodity prices are endogenously determined, we apply a new factor-based identification strategy to decompose the historical sources of changes in commodity prices and global economic activity. The model yields a factor structure for commodity prices and identification conditions that provide the factors with an economic interpretation: one factor captures the combined contribution of shocks that affect commodity markets only through general-equilibrium forces. Applied to a cross-section of commodity prices since 1968, the theoretical restrictions are consistent with the data and yield structural interpretations of the common factors in commodity prices. Commodity-related shocks have contributed modestly to global economic fluctuations. |
| 主题 | Macroeconomics ; Business Cycles ; International Economics ; International Macroeconomics |
| URL | https://www.nber.org/papers/w20003 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/577677 |
| 推荐引用方式 GB/T 7714 | Ron Alquist,Saroj Bhattarai,Olivier Coibion. Commodity-Price Comovement and Global Economic Activity. 2014. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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