Trends, Fluctuations, and Determinants of Commodity Prices

Luis Arango Thomas, Fernando Arias-Rodríguez and Luz Florez

No 4734, Borradores de Economia from Banco de la Republica

Abstract: A threefold analysis of commodity prices is carried out to observe their long-runbehaviour, their short-run properties and the main determinants. According to theevidence, the Prebisch-Singer hypothesis does not seem to be a property of mostprices. The cycles of commodity prices are asymmetric but contrary to the case ofeconomic activity, the longer phase corresponds to slumps. Interest rates seem tomaintain 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)
Pages: 30
Date: 2008-06-30
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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Related works:
Working Paper: Trends, Fluctuations, and Determinants of Commodity Prices (2008)
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Persistent link: https://EconPapers.repec.org/RePEc:col:000094:004734

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