The effect of inflation on real commodity prices

Arbeitspapier

Recent research has shown that economic conditions have an important effect on real commodity prices. We quantify the contribution of fluctuations in inflation to this particular link. In the data, a temporary rise in inflation causes real commodity prices to rise, as does a rise in trend inflation. We find that a simple dynamic equilibrium model of commodity supply and demand gives a realistic response of real commodity prices to inflation. Based on historical simulations, shocks to inflation played an important role in commodity price dynamics during the 1970s, but they have contributed negligibly to commodity price movements since then.

Angaben zum Objekt

• Sprache: Englisch

Verweise und Beziehungen

• Erschienen in: Series: Kiel Working Paper ; No. 1704

Klassifikation und Themen

• Klassifikation: Wirtschaft ; Price Level; Inflation; Deflation ; Monetary Policy ; Studies of Particular Policy Episodes ; Agricultural and Natural Resource Economics; Environmental and Ecological Economics: General
• Thema: Commodity prices ; monetary policy ; inflation ; the 1970s ; Rohstoffpreis ; Inflation ; Schätzung ; Welt

Beteiligte, Orts- und Zeitangaben

• Ereignis: Geistige Schöpfung
• (wer): Reicher, Christopher Phillip ; Utlaut, Johannes Friederich
• Ereignis: Veröffentlichung
• (wer): Kiel Institute for the World Economy (IfW)
• (wo): Kiel
• (wann): 2011

Weitere Informationen

• Handle: http://hdl.handle.net/10419/45904
• Letzte Aktualisierung: 10.03.2025, 11:43 MEZ