More On the Energy: Non-Energy Commodity Price Link
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 l...
Gespeichert in:
| Beteilige Person: | |
|---|---|
| Format: | Elektronisch E-Book |
| Sprache: | Englisch |
| Veröffentlicht: |
Washington, D.C
The World Bank
2009
|
| Links: | https://doi.org/10.1596/1813-9450-4982 |
| 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 high |
| Umfang: | 1 Online-Ressource (17 p) |
| DOI: | 10.1596/1813-9450-4982 |
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| 520 | |a 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 high | ||
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| illustrated | Not Illustrated |
| indexdate | 2024-12-20T19:40:03Z |
| institution | BVB |
| language | English |
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| publishDate | 2009 |
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| publisher | The World Bank |
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| spellingShingle | Baffes, John More On the Energy Non-Energy Commodity Price Link |
| title | More On the Energy Non-Energy Commodity Price Link |
| title_auth | More On the Energy Non-Energy Commodity Price Link |
| title_exact_search | More On the Energy Non-Energy Commodity Price Link |
| title_full | More On the Energy Non-Energy Commodity Price Link Baffes, John |
| title_fullStr | More On the Energy Non-Energy Commodity Price Link Baffes, John |
| title_full_unstemmed | More On the Energy Non-Energy Commodity Price Link Baffes, John |
| title_short | More On the Energy |
| title_sort | more on the energy non energy commodity price link |
| title_sub | Non-Energy Commodity Price Link |
| url | https://doi.org/10.1596/1813-9450-4982 |
| work_keys_str_mv | AT baffesjohn moreontheenergynonenergycommoditypricelink |