The Impact of Monetary Policy Shocks on Commodity Prices

Anzuini, Alessio; Lombardi, Marco; Pagano, Patrizio

doi:10.2139/ssrn.2030797

Cited by 238 publications

(128 citation statements)

References 143 publications

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“…When the real interest rate is high, as in the 1980s, money will flow out of commodities and therefore prices shrink. This confirms the studies by Dornbusch (1976), Frankel (2008, Svensson (2008), and Anzuini et al (2012). The studies highlighted the high responsiveness of agricultural prices to monetary policy changes.…”

Section: Discussion Of Results and Implicationssupporting

confidence: 87%

A Roller Coaster Ride: An Empirical Investigation of the Main Drivers of Wheat Price

Algieri

2016

Food Price Volatility and Its Implications for Food Security and Policy

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Section: Discussion Of Results and Implicationssupporting

confidence: 87%

A Roller Coaster Ride: An Empirical Investigation of the Main Drivers of Wheat Price

Algieri

2016

Food Price Volatility and Its Implications for Food Security and Policy

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Section: Discussion Of Results and Implicationssupporting

confidence: 86%

Food Price Volatility and Its Implications for Food Security and Policy

Kalkuhl¹,

Braun²,

Torero³

2016

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“…Based on the SVAR model, Anzuinie et al (2010) analyze the impact of the federal funds rate and the money supply on the commodity prices. It was found that the decrease of the interest rate boosted the rise of the commodity prices, while the increase of the money supply has less impact on the commodity prices.…”

Section: Literature Reviewmentioning

confidence: 99%

Study on the Interaction between International Commodity Price and China’s Demand

Zhuo¹

2018

ChnStd

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Based on monthly data and VAR models from March 2002 to December 2015, this paper studies the interaction between international commodity price and China's demand. The results show that the impact of China's demand can to a certain extent guide the fluctuation of commodity prices, while this impact is insignificant. Over time, the shock of commodity prices has exerted an increasingly effect on the changes in China's demand. In the context of the drastic drop of commodity prices and the slowdown of international economic growth, China should pay close attention to other factors that affect the volatility of commodity prices, such as speculative investment factors, the monetary policy of the world's major economies and take full advantage of today's low commodity prices and take muscular internationalization approach to buying important commodities cheaply for eventual global market improvement and selling on the macroeconomic trendlines.

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The Impact of Monetary Policy Shocks on Commodity Prices

Cited by 238 publications

References 143 publications

A Roller Coaster Ride: An Empirical Investigation of the Main Drivers of Wheat Price

A Roller Coaster Ride: An Empirical Investigation of the Main Drivers of Wheat Price

Food Price Volatility and Its Implications for Food Security and Policy

Study on the Interaction between International Commodity Price and China’s Demand

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