Economics, Econometrics and Finance
8 years ago

Monetary Surprises Drive Commodity Prices, Impacting Real Interest Rates

1 view
American Journal of Agricultural Economics
The Effects of Macroeconomic Announcements on Commodity Prices
Scott W. Barnhart

Paper Summary

The article looks at how certain economic news affects commodity prices. They found that surprises in monetary news have the biggest impact on commodity prices, especially lumber. This suggests that unexpected changes in interest rates are more important than changes in inflation expectations.

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