On the Fall of Prices of Commodities in Recent Years
Author: Robert Giffen
Publisher:
Published: 1879
Total Pages: 43
ISBN-13:
DOWNLOAD EBOOKRead and Download eBook Full
Author: Robert Giffen
Publisher:
Published: 1879
Total Pages: 43
ISBN-13:
DOWNLOAD EBOOKAuthor: Gustavo Adler
Publisher: International Monetary Fund
Published: 2011-12-01
Total Pages: 39
ISBN-13: 1463926642
DOWNLOAD EBOOKCommodity-exporting countries have significantly benefited from the commodity price boom of recent years. At the current juncture, however, uncertain global economic prospects have raised questions about their vulnerability to a sharp fall in commodity prices and the policies that can shield it from such a shock. To address these questions, this paper takes a long term (4 decade) view at emerging markets' commodity dependence, the history of commodity price busts and the role of policies in mitigating or amplifying their economic impact. The paper highlights the stark difference in trends between Latin America - one of the most vulnerable regions given its high, and rising, commodity dependence - and emerging Asia - which has evolved from being a net exporter to a net importer of commodities in the last 40 years. We find evidence, however, that while commodity dependence is an important ingredient, a country's ultimate degree of vulnerability to commodity price shocks is to a great extent determined by the flexibility and quality of its policy framework. Policies in the run-up of sharp terms-of-trade drops - especially when those are preceded by booms - play a particularly important role. Limited exchange rate flexibility, a weak external position, and loose fiscal policy tend to amplify the negative effects of these shocks on domestic output. Financial dollarization also appears to act as a shock "amplifier."
Author: Ronald Trostle
Publisher: DIANE Publishing
Published: 2011
Total Pages: 29
ISBN-13: 1437988342
DOWNLOAD EBOOKBetween early June 2010 and February 2011, prices of food commodities increased sharply, surpassing the 2008 peaks that had spread anxiety among policymakers and low-income consumers around the world. Most of the long-term trends in agricultural production and consumption that contributed to the 2002-06 price increases and the 2007-08 price spike also contributed to the recent price surge. This report describes the factors that have contributed to the large and rapid increase in agricultural prices during the past year. It focuses particularly on food commodity prices¿which have risen 60 percent since June 2010. Charts and tables. This is a print on demand edition of an important, hard-to-find publication.
Author: Madhu Khanna
Publisher: Springer Science & Business Media
Published: 2009-12-02
Total Pages: 435
ISBN-13: 1441903690
DOWNLOAD EBOOKConcerns about energy security, uncertainty about oil prices, declining oil reserves, and global climate change are fueling a shift towards bioenergy as a renewable alternative to fossil fuels. Public policies and private investments around the globe are aiming to increase local capacity to produce biofuels. A key constraint to the expansion of biofuel production is the limited amount of land available to meet the needs for fuel, feed, and food in the coming decades. Large-scale biofuel production raises concerns about food versus fuel tradeoffs, about demands for natural resources such as water, and about potential impacts on environmental quality. The book is organized into five parts. The introductory part provides a context for the emerging economic and policy challenges related to bioenergy and the motivations for biofuels as an energy source. The second part of the handbook includes chapters that examine the implications of expanded production of first generation biofuels for the allocation of land between food and fuel and for food/feed prices and trade in biofuels as well as the potential for technology improvements to mitigate the food vs. fuel competition for land. Chapters in the third part examine the infrastructural and logistical challenges posed by large scale biofuel production and the factors that will influence the location of biorefineries and the mix of feedstocks they use. The fourth part includes chapters that examine the environmental implications of biofuels, their implications for the design of policies and the unintended environmental consequences of existing biofuel policies. The final part presents economic analysis of the market, social welfare, and distributional effects of biofuel policies.
Author: Takatoshi Ito
Publisher: University of Chicago Press
Published: 2011-03
Total Pages: 346
ISBN-13: 0226386899
DOWNLOAD EBOOKFluctuations of commodity prices, most notably of oil, capture considerable attention and have been tied to important economic effects. This book advances our understanding of the consequences of these fluctuations, providing both general analysis and a particular focus on the countries of the Pacific Rim.
Author: Mr.Rabah Arezki
Publisher: International Monetary Fund
Published: 2017-09-22
Total Pages: 25
ISBN-13: 1484320816
DOWNLOAD EBOOKThis paper discusses developments and prospects for energy, metals, and food markets since the early 2000s, the start of what is termed a commodities supercycle—the rise of commodity prices over a decade or more as a result of a rapid urbanization and an expansion of infrastructure. Macroeconomists often assume that technological innovation is exogenous (driven largely by external factors or forces), but this volume documents how innovation in energy markets is directly affected by prices. When oil, natural gas, or fossil fuels become scarce, prices increase. This stimulates innovation and the adoption of new technologies and techniques for recovery and use of these resources. Conversely, when these commodities are abundant, prices fall, slowing the pace of innovation and the adoption of new techniques. At the heart of international trade in commodities are cross-country differenc¬es in resource endowments. Natural resources are materials or substances that occur in nature and can be used for economic gain, and so these include not only reserves of hydrocarbons, minerals, fisheries, and forests, but also temperate weather, fertile land, and access to water, which are important to agriculture.
Author: Jean-Paul Chavas
Publisher: University of Chicago Press
Published: 2014-10-14
Total Pages: 394
ISBN-13: 022612892X
DOWNLOAD EBOOK"The conference was organized by the three editors of this book and took place on August 15-16, 2012 in Seattle."--Preface.
Author: Mr.Markus Eberhardt
Publisher: International Monetary Fund
Published: 2018-07-06
Total Pages: 53
ISBN-13: 1484367820
DOWNLOAD EBOOKWe develop an empirical model to predict banking crises in a sample of 60 low-income countries (LICs) over the 1981-2015 period. Given the recent emergence of financial sector stress associated with low commodity prices in several LICs, we assign price movements in primary commodities a key role in our model. Accounting for changes in commodity prices significantly increases the predictive power of the model. The commodity price effect is economically substantial and robust to the inclusion of a wide array of potential drivers of banking crises. We confirm that net capital inflows increase the likelihood of a crisis; however, in contrast to recent findings for advanced and emerging economies, credit growth and capital flow surges play no significant role in predicting banking crises in LICs.
Author: Barry P. Bosworth
Publisher: Brookings Institution Press
Published: 1982
Total Pages: 215
ISBN-13: 9780815710332
DOWNLOAD EBOOKAuthor: Craig Pirrong
Publisher: Cambridge University Press
Published: 2011-10-31
Total Pages: 238
ISBN-13: 1139501976
DOWNLOAD EBOOKCommodities have become an important component of many investors' portfolios and the focus of much political controversy over the past decade. This book utilizes structural models to provide a better understanding of how commodities' prices behave and what drives them. It exploits differences across commodities and examines a variety of predictions of the models to identify where they work and where they fail. The findings of the analysis are useful to scholars, traders and policy makers who want to better understand often puzzling - and extreme - movements in the prices of commodities from aluminium to oil to soybeans to zinc.