Chen, Yu-chin; Rogoff, Kenneth S.; Rossi, Barbara - 2008
global commodity prices, both in-sample and out-of-sample. A critical element of our in-sample approach is to allow for …, that commodity prices Granger-cause exchange rates. However, consistent with the vast post-Meese-Rogoff (1983a …. We argue, however, that it is quite plausible that exchange rates will be better predictors of exogenous commodity prices …