| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w27589 |
| 来源ID | Working Paper 27589 |
| Does the Commodity Super Cycle Matter? | |
| Andrés Fernández; Stephanie Schmitt-Grohé; Martín Uribe | |
| 发表日期 | 2020-07-27 |
| 出版年 | 2020 |
| 语种 | 英语 |
| 摘要 | This paper investigates empirically the role of the commodity price super cycle in explaining real activity in developed and emerging economies. The commodity price super cycle is defined as a common permanent component in real commodity prices. Estimates using quarterly and annual data from 1960 to 2018 indicate that world shocks that affect commodity prices and the world interest rate explain more than half of the variance of output growth on average across countries. However, the majority of this contribution, more than two thirds, stems from stationary world shocks. These results suggest that world disturbances that are responsible for low frequency movements in commodity prices play an important but not dominant role in driving fluctuations in aggregate activity at the country level. |
| 主题 | International Economics ; International Macroeconomics |
| URL | https://www.nber.org/papers/w27589 |
| 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/585260 |
| 推荐引用方式 GB/T 7714 | Andrés Fernández,Stephanie Schmitt-Grohé,Martín Uribe. Does the Commodity Super Cycle Matter?. 2020. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w27589.pdf（328KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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