TY - JOUR
T1 - Relationships among strategic commodities and with financial variables
T2 - A new look
AU - Hammoudeh, Shawkat
AU - Sari, Ramazan
AU - Ewing, Bradley T.
PY - 2009/4
Y1 - 2009/4
N2 - We examine the comovements among the prices of four strategic commodities that have long, adequate daily series: oil, gold, silver, and copper as a group. We also explore their causal relationships with two commodity-relevant macrofinancial variables: interest and exchange rates as an expanded group to shed some light on the prediction behaviors of those individual commodity prices relative to the selected financial variables. In the expanded group, the selected interest rate can provide a transmission link between commodity prices and the dollar exchange rate. The results and their policy implications are discussed at length. (JEL C51, E27, Q43)
AB - We examine the comovements among the prices of four strategic commodities that have long, adequate daily series: oil, gold, silver, and copper as a group. We also explore their causal relationships with two commodity-relevant macrofinancial variables: interest and exchange rates as an expanded group to shed some light on the prediction behaviors of those individual commodity prices relative to the selected financial variables. In the expanded group, the selected interest rate can provide a transmission link between commodity prices and the dollar exchange rate. The results and their policy implications are discussed at length. (JEL C51, E27, Q43)
UR - http://www.scopus.com/inward/record.url?scp=65149101954&partnerID=8YFLogxK
U2 - 10.1111/j.1465-7287.2008.00126.x
DO - 10.1111/j.1465-7287.2008.00126.x
M3 - Article
AN - SCOPUS:65149101954
SN - 1074-3529
VL - 27
SP - 251
EP - 264
JO - Contemporary Economic Policy
JF - Contemporary Economic Policy
IS - 2
ER -