Output, Inflation and Commodity Prices.
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...
| Main Authors: | , |
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| Format: | Working paper |
| Language: | English |
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CEPR
1988
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| _version_ | 1797070809622118400 |
|---|---|
| author | Moutos, T Vines, D |
| author_facet | Moutos, T Vines, D |
| author_sort | Moutos, T |
| collection | OXFORD |
| description | 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. |
| first_indexed | 2024-03-06T22:44:18Z |
| format | Working paper |
| id | oxford-uuid:5c9f5a43-3a58-4c76-ac6a-42e9eb9d292a |
| institution | University of Oxford |
| language | English |
| last_indexed | 2024-03-06T22:44:18Z |
| publishDate | 1988 |
| publisher | CEPR |
| record_format | dspace |
| spelling | oxford-uuid:5c9f5a43-3a58-4c76-ac6a-42e9eb9d292a2022-03-26T17:29:24ZOutput, Inflation and Commodity Prices.Working paperhttp://purl.org/coar/resource_type/c_8042uuid:5c9f5a43-3a58-4c76-ac6a-42e9eb9d292aEnglishDepartment of Economics - ePrintsCEPR1988Moutos, TVines, DThe 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. |
| spellingShingle | Moutos, T Vines, D Output, Inflation and Commodity Prices. |
| title | Output, Inflation and Commodity Prices. |
| title_full | Output, Inflation and Commodity Prices. |
| title_fullStr | Output, Inflation and Commodity Prices. |
| title_full_unstemmed | Output, Inflation and Commodity Prices. |
| title_short | Output, Inflation and Commodity Prices. |
| title_sort | output inflation and commodity prices |
| work_keys_str_mv | AT moutost outputinflationandcommodityprices AT vinesd outputinflationandcommodityprices |