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The informational role of commodity prices in formulating monetary policy: a reexamination

被引：65
作者：
Awokuse, TO
Yang, J
机构：
[1] Univ Delaware, Dept Food & Resource Econ, Newark, DE 19717 USA
[2] Praire View A&M Univ, Dept Accounting Finance & Informat Syst, Prairie View, TX 77445 USA
来源：
ECONOMICS LETTERS | 2003年 / 79卷 / 02期
关键词：
commodity prices; monetary policy; causality;
D O I：
10.1016/S0165-1765(02)00331-2
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
This paper reexamines the issue of whether commodity prices provide useful information for formulating monetary policy through the application of a recent development in time series methodology developed by Toda and Yamamoto [J. Econometrics 66 (1995) 225-250]. We found that commodity prices signal the future direction of the economy. (C) 2002 Elsevier Science B.V. All rights reserved.
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页码：219 / 224
页数：6
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