More On the Energy : Non-Energy Commodity Price Link / Baffes, John
Resource type: Ressourcentyp: Buch (Online)Buch (Online)Sprache: Englisch Verlag: Washington, D.C : The World Bank, 2009Beschreibung: Online-Ressource (17 p)Andere physische Formen: Baffes, John: More On the Energy DOI: DOI: 10.1596/1813-9450-4982Online-Ressourcen: Zusammenfassung: This paper examines the energy/non-energy commodity price link, based on a reduced form econometric model and using annual data from 1960 to 2008. The transmission elasticity from energy to the non-energy index is estimated at 0.28. At a more disaggregated level, the fertilizer index exhibited the largest elasticity (0.55), followed by precious metals (0.46), food (0.27), metals and minerals (0.25), and raw materials (0.11). By contrast, only a few price indices responded strongly to inflation, although the trend parameter estimate (often viewed as a proxy for technological progress) is negative for agriculture and positive for metals. A key implication of the pass-through results is that for as long as energy prices remain elevated, most non-energy commodity prices are expected to be highPPN: PPN: 834963620Package identifier: Produktsigel: ZDB-1-WBA | ZDB-110-WBLDieser Titel hat keine Exemplare
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