Determinantes de los precios reales de las materias primas agrícolas. El papel de los inventarios y de los factores macroeconómicos (1960-2010)
In recent years, there has been an extraordinary increase in international commodity prices, such as fossil fuels (oil) and agricultural products. This paper analyzes the behavior of real prices of major agricultural commodities (wheat, corn, soybeans and rice) using SVAR models, with short-term res...
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| Format: | Article |
| Language: | English |
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Universidad de Antioquia
2012-12-01
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| Series: | Lecturas de Economía |
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| Online Access: | http://aprendeenlinea.udea.edu.co/revistas/index.php/lecturasdeeconomia/article/view/14774/12933 |
| _version_ | 1828745981004349440 |
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| author | Luis N. Lanteri |
| author_facet | Luis N. Lanteri |
| author_sort | Luis N. Lanteri |
| collection | DOAJ |
| description | In recent years, there has been an extraordinary increase in international commodity prices, such as fossil fuels (oil) and agricultural products. This paper analyzes the behavior of real prices of major agricultural commodities (wheat, corn, soybeans and rice) using SVAR models, with short-term restrictions, and annual data covering the period 1960-2010. The results suggest that the prices of these commodities increase with improvements in industrial growth, easy monetary policy, dollar depreciation, and inventory reductions. There is an inverse relation between the ratios inventories/consumption and the real prices of grains. |
| first_indexed | 2024-04-14T04:14:54Z |
| format | Article |
| id | doaj.art-1c97ec0dab6947418b81d7b380a835c6 |
| institution | Directory Open Access Journal |
| issn | 0120-2596 |
| language | English |
| last_indexed | 2024-04-14T04:14:54Z |
| publishDate | 2012-12-01 |
| publisher | Universidad de Antioquia |
| record_format | Article |
| series | Lecturas de Economía |
| spelling | doaj.art-1c97ec0dab6947418b81d7b380a835c62022-12-22T02:12:55ZengUniversidad de AntioquiaLecturas de Economía0120-25962012-12-017777189217Determinantes de los precios reales de las materias primas agrícolas. El papel de los inventarios y de los factores macroeconómicos (1960-2010)Luis N. LanteriIn recent years, there has been an extraordinary increase in international commodity prices, such as fossil fuels (oil) and agricultural products. This paper analyzes the behavior of real prices of major agricultural commodities (wheat, corn, soybeans and rice) using SVAR models, with short-term restrictions, and annual data covering the period 1960-2010. The results suggest that the prices of these commodities increase with improvements in industrial growth, easy monetary policy, dollar depreciation, and inventory reductions. There is an inverse relation between the ratios inventories/consumption and the real prices of grains.http://aprendeenlinea.udea.edu.co/revistas/index.php/lecturasdeeconomia/article/view/14774/12933real prices of agricultural commoditiesinventoriesmacroeconomic factorsestructural VAR models |
| spellingShingle | Luis N. Lanteri Determinantes de los precios reales de las materias primas agrícolas. El papel de los inventarios y de los factores macroeconómicos (1960-2010) Lecturas de Economía real prices of agricultural commodities inventories macroeconomic factors estructural VAR models |
| title | Determinantes de los precios reales de las materias primas agrícolas. El papel de los inventarios y de los factores macroeconómicos (1960-2010) |
| title_full | Determinantes de los precios reales de las materias primas agrícolas. El papel de los inventarios y de los factores macroeconómicos (1960-2010) |
| title_fullStr | Determinantes de los precios reales de las materias primas agrícolas. El papel de los inventarios y de los factores macroeconómicos (1960-2010) |
| title_full_unstemmed | Determinantes de los precios reales de las materias primas agrícolas. El papel de los inventarios y de los factores macroeconómicos (1960-2010) |
| title_short | Determinantes de los precios reales de las materias primas agrícolas. El papel de los inventarios y de los factores macroeconómicos (1960-2010) |
| title_sort | determinantes de los precios reales de las materias primas agricolas el papel de los inventarios y de los factores macroeconomicos 1960 2010 |
| topic | real prices of agricultural commodities inventories macroeconomic factors estructural VAR models |
| url | http://aprendeenlinea.udea.edu.co/revistas/index.php/lecturasdeeconomia/article/view/14774/12933 |
| work_keys_str_mv | AT luisnlanteri determinantesdelospreciosrealesdelasmateriasprimasagricolaselpapeldelosinventariosydelosfactoresmacroeconomicos19602010 |