TY  - BOOK
AU  - Liang,Hong
AU  - Cashin,Paul
AU  - Liang,Hong
AU  - McDermott,C.John
TI  - How Persistent Are Shocks to World Commodity Prices?
T2  - IMF Working Papers; Working Paper
SN  - 145185028X :
SN  - 1018-5941
PY  - 1999///
CY  - Washington, D.C.
PB  - International Monetary Fund
KW  - Commodity Prices
KW  - imf
KW  - Confidence Interval
KW  - Confidence Intervals
KW  - Export Earnings
KW  - Median-Unbiased Estimation
KW  - Price Stabilization
KW  - Cameroon
KW  - Congo, Democratic Republic of the
KW  - Guinea
KW  - New Zealand
KW  - United Kingdom
N2  - This paper examines the persistence of shocks to world commodity prices, using monthly IMF data on primary commodities between 1957-98. We find that shocks to commodity prices are typically long-lasting and the variability of the persistence of price shocks is quite wide. The paper also discusses the implications of these findings for national and international schemes to stabilize earnings from commodity exports and finds that if price shocks are long-lived, then the cost of stabilization schemes will likely exceed any associated smoothing benefits
UR  - http://elibrary.imf.org/view/IMF001/03161-9781451850284/03161-9781451850284/03161-9781451850284.xml
UR  - http://www.imfbookstore.org/IMFORG/9781451850284
ER  -