Commodity Terms of Trade: The History of Booms and Busts
September 1, 2009
Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate
Summary
We compile a historical dataset covering nearly 40 years of booms and busts in the commodity terms of trade of over 150 countries. We discuss the characteristics of these events and their effects on macroeconomic performance and, in particular, compare the most recent commodity-price cycle with its historical precedents.
Subject: Business cycles, Commodities, Commodity booms, Commodity price fluctuations, Commodity prices
Keywords: dating procedure, price, terms of trade, WP
Pages:
34
Volume:
2009
DOI:
Issue:
205
Series:
Working Paper No. 2009/205
Stock No:
WPIEA2009205
ISBN:
9781451873528
ISSN:
1018-5941
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