The article examines how global shocks impact small commodity-exporting economies like Canada. By analyzing data from both global and Canadian economies, the researchers identified key demand and supply shocks affecting commodity prices. They found that these shocks have significant effects on various aspects of the economy, including business cycles and spending patterns. The study successfully replicated known patterns in these economies, such as Dutch disease effects, which were previously challenging to capture. The results remained consistent across different methods of identifying the shocks.