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.
- Language
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Englisch
- Bibliographic citation
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Series: AGDI Working Paper ; No. WP/20/101
- Classification
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Wirtschaft
Crisis Management
Health Behavior
Economic Development: General
- Subject
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Covid-9
Commodity Prices
- Event
-
Geistige Schöpfung
- (who)
-
Ezeaku, Hillary Chijindu
Asongu, Simplice
Nnanna, Joseph
- Event
-
Veröffentlichung
- (who)
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African Governance and Development Institute (AGDI)
- (where)
-
Yaoundé
- (when)
-
2020
- Handle
- Last update
-
10.03.2025, 11:44 AM CET
Data provider
This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Ezeaku, Hillary Chijindu
- Asongu, Simplice
- Nnanna, Joseph
- African Governance and Development Institute (AGDI)
Time of origin
- 2020
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