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Commodity Terms of Trade
A New Database

by Bertrand Gruss and Suhaib Kebhaj

Series:Working Paper No. 19/21
ISBN 9781484393857
Code: #WPIEA2019021

Publication year: 2019

Cdn: $27.00; US: $25.00
Language: English
38 pages
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This paper presents a comprehensive database of country-speci fic commodity price indices for 182 economies covering the period 1962-2018. For each country, the change in the international price of up to 45 individual commodities is weighted using commodity-level trade data. The database includes a commodity terms-of-trade index|which proxies the windfall gains and losses of income associated with changes in world prices|as well as additional country-speci fic series, including commodity export and import price indices. We provide indices that are constructed using, alternatively, fi xed weights (based on average trade flows over several decades) and time-varying weights (which can account for time variation in the mix of commodities traded and the overall importance of commodities in economic activity). The paper also discusses the dynamics of commodity terms of trade across country groups and their influence on key macroeconomic aggregates.
Commodity Terms of Trade
Cdn: $27.00; US: $25.00
International Monetary Fund (IMF) BookID: 124290 Added: 2019.1.26