Commodity Prices and Markets (Volume 20) (National Bureau of Economic Research East Asia Seminar on Economics)

Fluctuations of commodity prices, most notably of oil, capture considerable attention and have been tied to important economic effects, such as inflation and low rates of economic growth. __Commodity Prices and Markets__ advances our understanding of the consequences of these fluctuations, providing both general analysis and a particular focus on the countries of the Pacific Rim. The volume addresses three distinct subjects: the difficulties in forecasting commodity prices, the effects of exogenous commodity price shocks on the domestic economy, and the relationship between price shocks and monetary policy. The ability to forecast commodity prices is difficult but of great importance to businesses and governments, and this volume will be invaluable to professionals and policy makers interested in the field. Fluctuations Of Commodity Prices, Most Notably Of Oil, Capture Considerable Attention And Have Been Tied To Important Economic Effects. This Book Advances Our Understanding Of The Consequences Of These Fluctuations, Providing Both General Analysis And A Particular Focus On The Countries Of The Pacific Rim. Forecasting Currencies With Commodity Prices -- Commodity Prices, Commodity Currencies, And Global Economic Developments / Jan J. J. Groen And Paolo A. Pesenti -- Comments: Kalok Chan, Roberto S. Mariano -- The Relationship Between Commodity Prices And Currency Exchange Rates: Evidence From The Futures Markets / Kalok Chan, Yiuman Tse And Michael Williams -- Comments: Tokuo Iwaisako, Doo Yong Yang -- Commodity Prices, The Terms Of Trade And Exchange Rates -- Identifying The Relationship Between Trade And Exchange Rate Volatility / Christian Broda And John Romalis -- Comments: Chaiyasit Anuchitworawong, Mark M. Spiegel -- The Consumption Terms Of Trade And Commodity Prices / Martin Berka And Mario J. Crucini -- Comments: Roberto S. Mariano, Mark M. Spiegel -- Pass-through Of Commodity Prices To The General Price Level -- Pass-through Of Oil Prices To Japanese Domestic Prices / Etsuro Shioji And Taisuke Uchino -- Comments: Yuko Hashimoto, Donghyun Park -- The Effects Of Oil Price Changes On The Industry-level Production And Prices In The U.s. And Japan / Ichiro Fukunaga, Naohisa Hirakata And Nao Sudo -- Comments: Francis T. Lui, Warwick J. Mckibbin -- Price Pass-through, Household Expenditure And Industrial Structure: The Case Of Taiwan / Biing-shen Kuo And Su-ling Peng -- Comments: Cayetano Paderanga, Jr., Arianto A. Patunru -- Macroeconomic Effects Of Oil Prices -- Oil And Macroeconomy: The Case Of Korea / Junhee Lee And Joonhyuk Song -- Comments: Tokuo Iwaisako, Mohamed Rizwan Habeeb Rahuman -- Oil Shocks In A Dsge Model For The Korean Economy / Sungbae An And Heedon Kang -- Comments: Warwick J. Mckibbin, Pengfei Wang. Edited By Takatoshi Ito And Andrew K. Rose. Includes Index. Fluctuations of commodity prices, most notably of oil, capture considerable attention and have been tied to important economic effects, such as inflation and low rates of economic growth. This title advances our understanding of the consequences of these fluctuations, providing both analysis and a focus on the countries of the Pacific Rim.