This paper aims to identify the nexus between the excess of liquidity in the United States and commodity prices over the 1983-2006 period. In particular, it assesses whether commodity prices react more powerfully than consumer goods' prices to changes in real money balances. Within a cointegrated vector autoregressive framework, the author investigates whether consumer prices and commodity prices react to excess liquidity, and if the different price...
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ПОДРОБНАЯ ИНФОРМАЦИЯ
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2011/01/01
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Рабочий документ в рамках исследования вопросов политики
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WPS5533
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1
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1
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2011/01/01
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Disclosed
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An empirical investigation of the nexus among money balances, commodity prices and consumer goods' prices
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commodity price
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Официальная версия документа (может содержать подписи, и т.д.)