The anatomy of three commodity booms

Radetzki, Marian

doi:10.1016/j.resourpol.2006.06.003

Cited by 173 publications

(88 citation statements)

References 2 publications

Supporting

Mentioning

Contrasting

Unclassified

Order By: Relevance

“…However, as in the case of gold and silver, since 2003 the spot prices of platinum and palladium gathered a momentum. The observed steep rise in the commodity prices has spurred a heated debate in the literature, with major drivers being (i) the 2003−2008 business cycle expansion in the global economy (Radetzki, 2006), with industrial metals being used as inputs in industrial production processes (Issler et al, 2014); (ii) growing demand for commodities from emerging market economies, such as Brazil, China, India and Russia (Humphreys, 2010), coupled with slow supply responses (Helbling et al, 2008); (iii) strongly synchronized price increases across metals (Roberts, 2008); (iv) biofuel policy changes (Helbling et al, 2008); (v) low interest rates and effective dollar depreciation (Helbling et al, 2008) and (vi) growing financial activity by institutional investors, hedge funds and exchange-trade funds (EFTs) (Silvennoinen and Thorp, 2013). Table 2 summarizes results of the unit root tests.…”

Section: Datamentioning

confidence: 99%

Dynamic spillovers between commodity and currency markets

Antonakakis

Kizys

2015

International Review of Financial Analysis

208

View full text Add to dashboard Cite

In this study, we examine the dynamic link between returns and volatility of commodities and currency markets. Based on weekly data over the period from January 6, 1987 to July 22, 2014, we find the following empirical regularities. First, our results suggest that the information contents of gold, silver, platinum, and the CHF/USD and GBP/USD exchange rates can help improve forecast accuracy of returns and volatilities of palladium, crude oil and the EUR/CHF and GBP/USD exchange rates. Second, gold (CHF/USD) is the dominant commodity (currency) transmitter of return and volatility spillovers to the remaining assets in our model. Third, the analysis of dynamic spillovers shows time-and event-specific patterns. For instance, the dynamic spillover effects originating in gold and silver (platinum) returns and volatility intensified (degraded) in the period marked by the global financial crisis. After the global financial crisis, the net transmitting role of gold and silver (platinum) returns shocks weakened (strengthened), while the net transmitting role of gold, silver and platinum volatility shocks remained relatively high. Overall, our findings reveal that, while the static analysis clearly classifies the aforementioned variables into net transmitters and net receivers, the dynamic analysis denotes episodes wherein the role of transmitters and receivers of return (volatility) spillovers can be interrupted or even reversed. Hence, even if certain commonalities prevail in each identified category of commodities, such commonalities are time-and event-dependent.

show abstract

Section: Datamentioning

confidence: 99%

Dynamic spillovers between commodity and currency markets

Antonakakis

Kizys

2015

International Review of Financial Analysis

208

View full text Add to dashboard Cite

show abstract

“…Good examples of the former approach include Maxwell (1999); Heap (2005) and (2007); Radetzki (2006);and Tilton (2006). Examples of times series econometrics approaches include Cuddington and Urzu´a (1989); Deaton and Miller (1995); Cashin and McDermott (2002) ;Cuddington, Ludema, and Jayasuriya (2007); and Gilbert (2007).…”

Section: Motivation and Backgroundmentioning

confidence: 99%

Super Cycles in Real Metals Prices?

Cuddington¹,

Jerrett²

2008

IMF Staff Pap

151

View full text Add to dashboard Cite

“…These factors determine the glut of metallurgic production, which started from the beginning of World War II and reached a peak in the period between 2003 and 2008. The metal consumption growth during World War II was caused by the need to expand military might, militarization of economy, mass weapons production, railway construction (Radetzki, 2006). After the end of the war in many countries buildings, roads and plants were destroyed and needed reconstruction, which also resulted in higher demand for metallurgic production.…”

Section: Methodsmentioning

confidence: 99%

Dynamics of Metallurgic Production in Emerging Countries

Razvadovskaya¹,

Шевченко²

2015

ASS

View full text Add to dashboard Cite

The article presents the analysis of the development of production in metallurgic industry. Production rates and output are determined by two factors. The first factor of the metals consumption growth is the annual population growth, especially in emerging countries. The second factor is the process of industrialization in emerging countries. However, the dynamics of the production processes can affect the re-industrialization and the reshoring of industrial production. The article analyses the development of production in metallurgic industry in China and Russia.

show abstract

The anatomy of three commodity booms

Cited by 173 publications

References 2 publications

Dynamic spillovers between commodity and currency markets

Dynamic spillovers between commodity and currency markets

Super Cycles in Real Metals Prices?

Dynamics of Metallurgic Production in Emerging Countries

Contact Info

Product

Resources

About