Chen, Yu-chin; Rogoff, Kenneth; Rossi, Barbara - Duke University, Department of Economics - 2010
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 …