Output, Inflation and Commodity Prices

Thomas Moutos and David Vines

No 271, CEPR Discussion Papers from Centre for Economic Policy Research

Abstract: The purpose of this paper is to provide a simple model which illuminates the interdependence between primary commodity prices and the rest of the economy. We study the role of commodity prices in a disinflation program, the role of commodity prices in determining whether or not a fiscal expansion is crowded out, and the effect on the manufacturing sector of the economy (i.e. that part of the economy described by a conventional macroeconomic model) of an exogenous increase in the supply of primary commodities. One of our main concerns is to draw an analogy between the roles of commodity prices and of exchange rates in all of the above processes.

Keywords: Commodity Prices; Developed Countries; Expectations; Inflation (search for similar items in EconPapers)
Date: 1988-09
References: Add references at CitEc
Citations: View citations in EconPapers (4)

Downloads: (external link)
http://www.cepr.org/active/publications/discussion_papers/dp.php?dpno=271 (application/pdf)

Related works:
Journal Article: Output, Inflation and Commodity Prices (1992)
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:cpr:ceprdp:271

Ordering information: This working paper can be ordered from
http://www.cepr.org/ ... pers/dp.php?dpno=271

Access Statistics for this paper

More papers in CEPR Discussion Papers from Centre for Economic Policy Research 33 Great Sutton Street, London EC1V 0DX, UK.
Bibliographic data for series maintained by CEPR ().