Staff View: An Empirical Investigation of the Nexus among Money Balances, Commodity Prices and Consumer Goods’ Prices

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An Empirical Investigation of the Nexus among Money Balances, Commodity Prices and Consumer Goods’ Prices

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...

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Bibliographic Details
Main Author:	Grigoli, Francesco
Language:	English
Published:	2012
Subjects:	AGRICULTURAL PRICES AGRICULTURE ARBITRAGE ASSET PRICES AUCTION AUTOREGRESSION COMMODITIES COMMODITIES PRICES COMMODITY COMMODITY FUTURES COMMODITY FUTURES PRICES COMMODITY MARKET COMMODITY MARKETS COMMODITY PRICE COMMODITY PRICE INDEX COMMODITY PRICES CONSUMER GOODS CONSUMER PRICE CONSUMER PRICE INDEX CONSUMER PRICES CONTINUOUS AUCTION CYCLICAL SWINGS DEVELOPING COUNTRIES DEVELOPMENT POLICY ECONOMETRIC ANALYSIS ECONOMIC ACTIVITY ECONOMIC OUTLOOK ENERGY PRICES EQUILIBRIUM EQUILIBRIUM VALUE EXCESS LIQUIDITY EXCHANGE RATE EXPANSIONARY MONETARY POLICY EXPANSIONARY POLICY FAIR FINANCIAL SYSTEM FOREIGN EXCHANGE FUTURES GDP GLOBAL ECONOMY GOVERNMENT BOND GROSS DOMESTIC PRODUCT INDUSTRIAL COMMODITIES INDUSTRIAL ECONOMIES INFLATION INFLATION EXPECTATIONS INFLATION RATE INFLATION TARGETING INFLATIONARY PRESSURES INSPECTION INTEREST RATE INTEREST RATES LIQUIDITY M2 MACROECONOMICS MONETARY AUTHORITY MONETARY POLICY MONEY GROWTH MONEY SUPPLY OPEN ACCESS OUTPUT PHONE POLITICAL ECONOMY POSITIVE EFFECTS PRICE ADJUSTMENT PRICE DYNAMICS PRICE ELASTICITY PRICE ELASTICITY OF SUPPLY PRICE INCREASE PRICE INCREASES PRICE INDEX PRICE INDEXES PRICE LEVEL PRICE MOVEMENTS PRICES INDEX PRIMARY COMMODITY REAL GDP RESULT RESULTS SPOT PRICE SPREAD SUBSTITUTES SUPPLY SHOCK SUPPLY SHOCKS TRANSACTION TRANSACTION COSTS TREASURY TREASURY BILL VOLATILITY WEB
Online Access:	http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000158349_20110118101618 http://hdl.handle.net/10986/3306