Publication:
More on the Energy/Non-Energy Commodity Price Link

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dc.contributor.authorBaffes, John
dc.date.accessioned2012-03-19T19:11:17Z
dc.date.available2012-03-19T19:11:17Z
dc.date.issued2009-06-01
dc.description.abstractThis paper examines the energy/non-energy commodity price link, based on a reduced form econometric model and using annual data from 1960 to 2008. The transmission elasticity from energy to the non-energy index is estimated at 0.28. At a more disaggregated level, the fertilizer index exhibited the largest elasticity (0.55), followed by precious metals (0.46), food (0.27), metals and minerals (0.25), and raw materials (0.11). By contrast, only a few price indices responded strongly to inflation, although the trend parameter estimate (often viewed as a proxy for technological progress) is negative for agriculture and positive for metals. A key implication of the pass-through results is that for as long as energy prices remain elevated, most non-energy commodity prices are expected to be high.en
dc.identifierhttp://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000158349_20090630085856
dc.identifier.doi10.1596/1813-9450-4982
dc.identifier.urihttps://hdl.handle.net/10986/4174
dc.languageEnglish
dc.relation.ispartofseriesPolicy Research working paper ; no. WPS 4982
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo/
dc.subjectAGRICULTURAL PRICES
dc.subjectAVAILABILITY
dc.subjectAVAILABILITY OF DATA
dc.subjectBARTER
dc.subjectBIOMASS
dc.subjectCOAL
dc.subjectCOMMODITIES
dc.subjectCOMMODITY
dc.subjectCOMMODITY BOOM
dc.subjectCOMMODITY MARKET
dc.subjectCOMMODITY MARKETS
dc.subjectCOMMODITY PRICE
dc.subjectCOMMODITY PRICE INDICES
dc.subjectCOMMODITY PRICES
dc.subjectCRUDE OIL
dc.subjectCRUDE OIL PRICE
dc.subjectDATA MINING
dc.subjectDEBT
dc.subjectDEVELOPING COUNTRIES
dc.subjectDEVELOPING COUNTRY
dc.subjectDOMESTIC MARKETS
dc.subjectDOMESTIC PRICES
dc.subjectECONOMIC EFFECTS
dc.subjectEFFICIENT MARKET
dc.subjectENERGY MARKETS
dc.subjectENERGY PRICE
dc.subjectENERGY PRICES
dc.subjectENERGY TRANSMISSION
dc.subjectEXCHANGE MARKET
dc.subjectEXCHANGE MARKETS
dc.subjectEXCHANGE RATES
dc.subjectEXPENDITURES
dc.subjectFOOD COMMODITIES
dc.subjectFOOD PRICE
dc.subjectGLOBAL ECONOMIC PROSPECTS
dc.subjectGOLD PRICES
dc.subjectINCOME
dc.subjectINDUSTRIAL COUNTRIES
dc.subjectINFLATION
dc.subjectINFLATIONARY PRESSURES
dc.subjectMARKET EFFICIENCY
dc.subjectMARKET INEFFICIENCIES
dc.subjectMARKET INTEGRATION
dc.subjectNATURAL GAS
dc.subjectOIL PRICES
dc.subjectOIL SHOCKS
dc.subjectOIL SPILLS
dc.subjectOILS
dc.subjectPOTASSIUM
dc.subjectPRICE INCREASE
dc.subjectPRICE INCREASES
dc.subjectPRICE INDEX
dc.subjectPRICE INDICES
dc.subjectPRICE MOVEMENTS
dc.subjectPRICE SERIES
dc.subjectPRIMARY COMMODITIES
dc.subjectPRIMARY COMMODITY
dc.subjectPRODUCTION PROCESS
dc.subjectRAW MATERIALS
dc.subjectRESULT
dc.subjectRESULTS
dc.subjectSEARCH
dc.subjectSOYBEAN MEAL
dc.subjectSOYBEAN OIL
dc.subjectSPREAD
dc.subjectTECHNOLOGICAL CHANGE
dc.subjectUSES
dc.subjectWEB
dc.subjectWORLD TRADE
dc.titleMore on the Energy/Non-Energy Commodity Price Linken
dspace.entity.typePublication
okr.crossref.titleMore On The Energy / Non-Energy Commodity Price Link
okr.date.doiregistration2025-04-10T12:16:28.660082Z
okr.doctypePublications & Research::Policy Research Working Paper
okr.docurlhttp://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000158349_20090630085856
okr.globalpracticeEnergy and Extractives
okr.guid862691468332445543
okr.identifier.doi10.1596/1813-9450-4982
okr.identifier.externaldocumentum000158349_20090630085856
okr.identifier.internaldocumentum10754058
okr.identifier.reportWPS4982
okr.language.supporteden
okr.pdfurlhttp://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2009/06/30/000158349_20090630085856/Rendered/PDF/WPS4982.pdfen
okr.region.administrativeThe World Region
okr.region.administrativeThe World Region
okr.sector(Historic)Economic management
okr.topicEnergy::Energy Production and Transportation
okr.unitDevelopment Prospects Group (DECPG)
okr.unitDevelopment Research Group (DECRG)
okr.volume1 of 1
relation.isAuthorOfPublication18b25906-9cb0-519d-95a9-8bfd4c5a3666
relation.isAuthorOfPublication.latestForDiscovery18b25906-9cb0-519d-95a9-8bfd4c5a3666
relation.isSeriesOfPublication26e071dc-b0bf-409c-b982-df2970295c87
relation.isSeriesOfPublication.latestForDiscovery26e071dc-b0bf-409c-b982-df2970295c87
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