The informational role of commodity prices in formulating monetary policy: a reexamination

被引：65

作者：

Awokuse, TO

Yang, J

机构：

[1] Univ Delaware, Dept Food & Resource Econ, Newark, DE 19717 USA

[2] Praire View A&M Univ, Dept Accounting Finance & Informat Syst, Prairie View, TX 77445 USA

来源：

ECONOMICS LETTERS | 2003年 / 79卷 / 02期

关键词：

commodity prices; monetary policy; causality;

D O I：

10.1016/S0165-1765(02)00331-2

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

This paper reexamines the issue of whether commodity prices provide useful information for formulating monetary policy through the application of a recent development in time series methodology developed by Toda and Yamamoto [J. Econometrics 66 (1995) 225-250]. We found that commodity prices signal the future direction of the economy. (C) 2002 Elsevier Science B.V. All rights reserved.

引用

页码：219 / 224

页数：6

共 15 条

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BARSKY RB, 2001, NBER WORKING PAPER, V8386

[2] RELATIVE PRICES AND MONEY - A VECTOR AUTOREGRESSION ON BRAZILIAN DATA [J].