The Effect of Monetary Policy on Commodity Prices: Disentangling the Evidence for Individual Prices
نویسندگان
چکیده
منابع مشابه
Monetary Policy , Commodity Prices and Infl ation
The past years were characterized by unprecedented rises in prices of commodities such as oil or wheat and infl ation rates moved up above the mark of two percent per annum. This led to a revival of the debate whether commodity prices indicate future CPI infl ation and if they can be used as indicator variables for central banks or not. We apply various econometric methods like Granger causalit...
متن کاملComments on Jeffrey Frankel, " Commodity Prices and Monetary Policy "
I have no problems with the first point. Frankel provides considerable empirical evidence to support his conclusion. It also makes theoretical sense that commodity prices may be negatively correlated with real interest rates. Commodity prices can to a large extent be seen as asset prices. Asset prices are discounted present values of expected future returns. A rise in the real interest rate red...
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The global economy is in turmoil. In this scenario, monetary policies around the world face strong challenges. Sailing through quiet waters has been pleasant. As we know, the stable and prosperous performance of the world economy in recent years has partly been the result of sound monetary policies. Now, during difficult times, monetary policy should contribute to make the adjustment less costl...
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abstract: about 60% of total premium of insurance industry is pertained?to life policies in the world; while the life insurance total premium in iran is less than 6% of total premium in insurance industry in 2008 (sigma, no 3/2009). among the reasons that discourage the life insurance industry is the problem of adverse selection. adverse selection theory describes a situation where the inf...
15 صفحه اولMonetary policy and asset prices
The purpose of this paper is study the effect of monetary policy on asset prices. We study the properties of a monetary model in which a real asset is valued for its rate of return and for its liquidity. We show that money is essential if and only if real assets are scarce, in the precise sense that their supply is not sufficient to satisfy the demand for liquidity. Our model generates a clear ...
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ژورنال
عنوان ژورنال: Economics Research International
سال: 2014
ISSN: 2090-2123,2090-2131
DOI: 10.1155/2014/649734