Critical Raw Materials Index -CRMI

Jean-Baptiste Hasse and Capucine Nobletz
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Capucine Nobletz: Centre de recherche de la Banque de France - Banque de France

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Abstract: In this paper, we present a critical raw materials index (CRMI) that represents the price dynamics of the raw materials required for the low-carbon transition. Using a unique market and trade dataset covering 29 critical raw materials from 2012 to 2023, we construct a weekly trade weighted price index following a robust methodological framework. The relevance of our index is demonstrated through a validation process including a plausibility analysis and a comparability analysis. In addition, a sensitivity analysis provides empirical evidence of the robustness of our index to alternative data treatment, weighting factors and weighting schemes. Our framework offers policymakers a useful price benchmark to track the underlying metal market dynamics required by the growing clean energy sectors.

Keywords: Critical Raw Materials Index (CRMI); Energy Transition; Index Construction; Metal prices (search for similar items in EconPapers)
Date: 2024-10-29
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Working Paper: Critical Raw Materials Index - CRMI (2024)
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