Arbeitspapier

Volatility of international commodity prices in times of Covid-19: Effects of oil supply and global demand shocks

This study examines the effects of oil supply and global demand shocks on the volatility of commodity prices in the metal and agricultural commodity markets using the SVAR model. The empirical evidence is based on real time daily closing international commodity prices covering the period 2 December 2019 to 1 October 2020. The findings are presented in cumulative impulse responses and variance decompositions. The former is utilized to examine the accumulated influence of structural shocks on the volatility of agricultural and metal commodities whereas the latter reflect the share of variation in the volatility of each commodity arising from each structural shock. Various patterns are provided on how metal and agricultural commodity prices have been influenced by the COVID-19 pandemic. Policy implications are discussed.

Sprache
Englisch

Erschienen in
Series: AGDI Working Paper ; No. WP/20/101

Klassifikation
Wirtschaft
Crisis Management
Health Behavior
Economic Development: General
Thema
Covid-9
Commodity Prices

Ereignis
Geistige Schöpfung
(wer)
Ezeaku, Hillary Chijindu
Asongu, Simplice
Nnanna, Joseph
Ereignis
Veröffentlichung
(wer)
African Governance and Development Institute (AGDI)
(wo)
Yaoundé
(wann)
2020

Handle
Letzte Aktualisierung
10.03.2025, 11:44 MEZ

Datenpartner

Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.

Objekttyp

  • Arbeitspapier

Beteiligte

  • Ezeaku, Hillary Chijindu
  • Asongu, Simplice
  • Nnanna, Joseph
  • African Governance and Development Institute (AGDI)

Entstanden

  • 2020

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