Unemployment and Primary Commodity Prices: Theory and Evidence in a Global Perspective

Unemployment and Primary Commodity Prices: Theory and Evidence in a Global Perspective

by Annalisa Cristini
     
 

This book discusses the links between primary commodity prices and the OECD rate of unemployment. In particular, it formalizes and estimates a macroeconomic model which, by endogenizing both the OECD rate of unemployment and primary commodity prices, is capable of accounting for the feedback running from the primary market to the OECD economy. Simulations are also… See more details below

Overview

This book discusses the links between primary commodity prices and the OECD rate of unemployment. In particular, it formalizes and estimates a macroeconomic model which, by endogenizing both the OECD rate of unemployment and primary commodity prices, is capable of accounting for the feedback running from the primary market to the OECD economy. Simulations are also performed to provide insights into the propagation mechanism of an oil price shock and the roles played by various factors to determine the final effect.

Editorial Reviews

Booknews
Discusses links between primary commodity prices and the OECD rate of unemployment. A descriptive account of the main facts and a VAR analysis help define the essential features of the macroeconomic model which constitutes the core of this book. The model simultaneously determines the industrialized countries' economic activity, primary commodity prices, the world real interest rate, and LDC external debt, accounting for both the impact of primary prices on the OECD economy as well as feedback running from other global markets to the OECD economy. The author teaches economic policy at the University of Bergamo, Italy. Annotation c. Book News, Inc., Portland, OR (booknews.com)

Product Details

ISBN-13:
9780312220365
Publisher:
St. Martin's Press
Publication date:
05/28/1999
Pages:
202
Product dimensions:
5.76(w) x 8.84(h) x 0.79(d)

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