Commodity prices and macroeconomic policy: and overview

World commodity prices and their macroeconomic impact especially on emerging economies have long been a main concern in economic research. Decades ago the Prebisch-Singer hypothesis of secularly deteriorating terms of trade (Prebisch 1950 Singer 1950) was the subject of intense debate and became a c...

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Autores principales:	Caputo, Rodrigo, Chang, Roberto
Formato:	Artículo
Lenguaje:	eng
Publicado:	Banco Central de Chile 2019
Materias:	PRODUCTOS BÁSICOS MACROECONOMÍA PRECIOS
Acceso en línea:	https://hdl.handle.net/20.500.12580/3833
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spelling	oai-20.500.12580-38332021-04-24T11:10:59Z Commodity prices and macroeconomic policy: and overview Caputo, Rodrigo Chang, Roberto PRODUCTOS BÁSICOS MACROECONOMÍA PRECIOS World commodity prices and their macroeconomic impact especially on emerging economies have long been a main concern in economic research. Decades ago the Prebisch-Singer hypothesis of secularly deteriorating terms of trade (Prebisch 1950 Singer 1950) was the subject of intense debate and became a cornerstone of major development theories and especially in Latin America of influential policy approaches. In a related fashion extensive literature has studied the long-run behavior of commodity prices. Although there is some controversy about the main drivers of the relative prices of commodities there is consensus that since the nineteenth century four commodity 'super cycles' have taken place. These super cycles have been related to strong demand associated with moments of rapid industrialization and urbanization in major areas of the world. Each of them lasting on average 20 years ended once the supply of commodities increased to match the growing demand (Canuto 2014). 2019-11-01T00:06:38Z 2019-11-01T00:06:38Z 2014 Artículo 978-956-7421-50-3 https://hdl.handle.net/20.500.12580/3833 eng Series on Central Banking Analysis and Economic Policies no. 22 Attribution-NonCommercial-NoDerivs 3.0 Chile http://creativecommons.org/licenses/by-nc-nd/3.0/cl/ .pdf Sección o Parte de un Documento p. 01-18 application/pdf AMÉRICA LATINA Banco Central de Chile
institution	Banco Central
collection	Banco Central
language	eng
topic	PRODUCTOS BÁSICOS MACROECONOMÍA PRECIOS
spellingShingle	PRODUCTOS BÁSICOS MACROECONOMÍA PRECIOS Caputo, Rodrigo Chang, Roberto Commodity prices and macroeconomic policy: and overview
description	World commodity prices and their macroeconomic impact especially on emerging economies have long been a main concern in economic research. Decades ago the Prebisch-Singer hypothesis of secularly deteriorating terms of trade (Prebisch 1950 Singer 1950) was the subject of intense debate and became a cornerstone of major development theories and especially in Latin America of influential policy approaches. In a related fashion extensive literature has studied the long-run behavior of commodity prices. Although there is some controversy about the main drivers of the relative prices of commodities there is consensus that since the nineteenth century four commodity 'super cycles' have taken place. These super cycles have been related to strong demand associated with moments of rapid industrialization and urbanization in major areas of the world. Each of them lasting on average 20 years ended once the supply of commodities increased to match the growing demand (Canuto 2014).
format	Artículo
author	Caputo, Rodrigo Chang, Roberto
author_facet	Caputo, Rodrigo Chang, Roberto
author_sort	Caputo, Rodrigo
title	Commodity prices and macroeconomic policy: and overview
title_short	Commodity prices and macroeconomic policy: and overview
title_full	Commodity prices and macroeconomic policy: and overview
title_fullStr	Commodity prices and macroeconomic policy: and overview
title_full_unstemmed	Commodity prices and macroeconomic policy: and overview
title_sort	commodity prices and macroeconomic policy: and overview
publisher	Banco Central de Chile
publishDate	2019
url	https://hdl.handle.net/20.500.12580/3833
work_keys_str_mv	AT caputorodrigo commoditypricesandmacroeconomicpolicyandoverview AT changroberto commoditypricesandmacroeconomicpolicyandoverview
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Commodity prices and macroeconomic policy: and overview

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