Trends, Fluctuations, and Determinants of Commodity Prices

Luis Arango Thomas, Fernando Arias-Rodríguez and Luz Florez

Borradores de Economia from Banco de la Republica de Colombia

Abstract: A threefold analysis of commodity prices is carried out to observe their long-run behaviour, their short-run properties and the main determinants. According to the evidence, the Prebisch-Singer hypothesis does not seem to be a property of most prices. The cycles of commodity prices are asymmetric but contrary to the case of economic activity, the longer phase corresponds to slumps. Interest rates seem to maintain a negative relationship with commodity prices.

Keywords: Commodity prices; real interest rates; Prebisch-Singer hypothesis; short-run behaviour. (search for similar items in EconPapers)
JEL-codes: E3 E32 F4 O13 O47 Q11 (search for similar items in EconPapers)
Date: 2008-07
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

Downloads: (external link)
https://doi.org/10.32468/be.521 (application/pdf)

Related works:
Working Paper: Trends, Fluctuations, and Determinants of Commodity Prices (2008)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:bdr:borrec:521

Access Statistics for this paper

More papers in Borradores de Economia from Banco de la Republica de Colombia Cra 7 # 14-78. Contact information at EDIRC.
Bibliographic data for series maintained by Clorith Angélica Bahos Olivera (cbahosol@banrep.gov.co).