کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
5083539 1477803 2015 19 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
Does the euro area macroeconomy affect global commodity prices? Evidence from a SVAR approach
موضوعات مرتبط
علوم انسانی و اجتماعی اقتصاد، اقتصادسنجی و امور مالی اقتصاد و اقتصادسنجی
پیش نمایش صفحه اول مقاله
Does the euro area macroeconomy affect global commodity prices? Evidence from a SVAR approach
چکیده انگلیسی
This paper investigates the effects of real and financial processes in the euro area macroeconomy on energy and non-energy commodity prices. The relations implied by the proposed theoretical model are examined within the structural VAR framework for three sub-periods. Our main finding is that, although global commodity prices are indeed related to real and financial processes in the euro area macroeconomy, the relations among them are not stable over time. Energy prices and interest rates depart from real processes in the pre-crisis period, whereas the relative importance of real and financial factors changes for non-energy commodity price index.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: International Review of Economics & Finance - Volume 39, September 2015, Pages 485-503
نویسندگان
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