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Real Exchange Rates and Primary Commodity Prices: Mussa Meets Backus-Smith

Joao Ayres, Constantino Hevia and Juan Pablo Nicolini

No 89, Working Papers from Red Nacional de Investigadores en Economía (RedNIE)

Abstract: We show that explicitly modeling primary commodities in an otherwise totally standard incomplete markets open economy model can go a long way in explaining the Mussa puzzle and the Backus-Smith puzzle, two of the main puzzles in the international economics literature.

Keywords: primary commodity prices; Mussa puzzle; Backus-Smith puzzle. (search for similar items in EconPapers)
JEL-codes: F31 F41 (search for similar items in EconPapers)
Pages: 57 pages
Date: 2021-10
New Economics Papers: this item is included in nep-dge and nep-opm
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Downloads: (external link)
https://rednie.eco.unc.edu.ar/files/DT/89.pdf (application/pdf)

Related works:
Working Paper: Real Exchange Rates and Primary Commodity Prices: Mussa Meets Backus-Smith (2021) Downloads
Working Paper: Real Exchange Rates and Primary Commodity Prices: Mussa Meets Backus-Smith (2021) Downloads
Working Paper: Real Exchange Rates and Primary Commodity Prices: Mussa Meets Backus-Smith* (2021) Downloads
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Persistent link: https://EconPapers.repec.org/RePEc:aoz:wpaper:89

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