In this paper we show that commodity price co-movements between petroleum and other commodities, although infrequent, are not unique to recent periods, as alluded to in the current literature. We find that much of the volatility in commodity prices over long time spans is caused by economic...

We develop a global vector autoregressive model (GVAR) to analyze the globalgrowth spillover e¤ects on Africa. The model contains 46 African countries and30 developed and emerging market countries, covering 90 percent of the world econ-omy. The results suggest that there is a signi…cant growth...

This paper presents a macroeconometric model of Rwanda. The modelis constructed to analyze the macroeconomic e¤ects of various policy interventions.It captures the supply constrained nature of the economy as well as its dependenceon the external sector. The individual equations of the model are...