Commodity price volatility can create concern for central bank policy-makers. Recent commodity prices peaked in the aftermath of the financial crisis of 2007, and they have remained relatively volatile since. As they are often seen as being connected in a cause and effect relationship with...

This paper analyze volatility persistence in global prices of wheat, rice and corn using monthly price data for two sample periods, before and after the shock on global food commodity markets on November 2007. Our findings show evidence of structural change in price trend in the post-shock...

This paper examines the contribution of market expectations to commodity price dynamics. It proposes a dynamic competitive storage framework with an expectations shock explicitly along with concurrent shocks to study the commodity price movements. This allows for a more refined analysis of the...

Colombia is a small open and commodity exporter economy, sensitive to international commodity price fluctuations. During the surge in commodity prices, as income from the resource sector increases total credit expands, boosting demand for tradable and nontradable goods, appreciating the currency...

In 2007, the highly dynamic commodity markets had attracted new classes of participants such as algorithmic high-frequency traders; sophisticated product structurers; and Chinese entrepreneurs. This paper will briefly cover the market developments that brought in these new participants by...

China's rapid growth over the past decade has been one of the main drivers of the rise in mineral commodity demand and prices. At a time when concerns about the sustainability of China's growth model are rising, this paper assesses to what extent a hard landing in China would impact other...

Following four years of relative stability at around $105 per barrel, oil prices have declined sharply since June 2014. This paper presents a comprehensive analysis of the sources of the recent decline in prices, and examines its macroeconomic, financial and policy implications. The recent drop...

This paper is an empirical study on the price discovery relationship between spot and futures prices of three commodity indices provided by Multi Commodity Exchange of India Limited (MCX). These indices are combined commodity index (MCXCOMDEX), metal index (MCXMETAL), and energy index...

The recent collapse in international commodity prices has both positive and negative implications for Asia-Pacific economies, depending upon net commodity-trade positions. This paper focuses the impacts to net commodity-importing economies of Asia and the Pacific. It highlights that in addition...

This is the first study to present a unified quantitative account of African commodity trade in the long 19th century from the zenith of the Atlantic slave trade (1790s) to the eve of World War II (1939). Drawing evidence from a new dataset on export and import prices, volumes, composition and...