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dc.contributor.authorReicher, Christopher Phillipen
dc.contributor.authorUtlaut, Johannes Friederichen
dc.date.accessioned2011-06-08-
dc.date.accessioned2011-06-24T12:49:07Z-
dc.date.available2011-06-24T12:49:07Z-
dc.date.issued2011-
dc.identifier.urihttp://hdl.handle.net/10419/45904-
dc.description.abstractRecent research has shown that economic conditions have an important effect on real commodity prices. We quantify the contribution of fluctuations in inflation to this particular link. In the data, a temporary rise in inflation causes real commodity prices to rise, as does a rise in trend inflation. We find that a simple dynamic equilibrium model of commodity supply and demand gives a realistic response of real commodity prices to inflation. Based on historical simulations, shocks to inflation played an important role in commodity price dynamics during the 1970s, but they have contributed negligibly to commodity price movements since then.en
dc.language.isoengen
dc.publisher|aKiel Institute for the World Economy (IfW) |cKielen
dc.relation.ispartofseries|aKiel Working Paper |x1704en
dc.subject.jelE31en
dc.subject.jelE52en
dc.subject.jelE65en
dc.subject.jelQ00en
dc.subject.ddc330en
dc.subject.keywordCommodity pricesen
dc.subject.keywordmonetary policyen
dc.subject.keywordinflationen
dc.subject.keywordthe 1970sen
dc.subject.stwRohstoffpreisen
dc.subject.stwInflationen
dc.subject.stwSchätzungen
dc.subject.stwWelten
dc.titleThe effect of inflation on real commodity prices-
dc.typeWorking Paperen
dc.identifier.ppn661649679en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
dc.identifier.repecRePEc:zbw:ifwkwp:1704en

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