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2014 | 7 | nr 4 | 71-88
Tytuł artykułu

The Research on the Impact of the Changes of Commodity Price Level in the World Commodity Exchanges on Variation of General Price Level

Treść / Zawartość
Warianty tytułu
Języki publikacji
EN
Abstrakty
EN
The purpose of the paper is to investigate the influence of changes of commodity price level in the world commodity exchanges on variation of general price level index in Lithuania. Object of the research is commodity price level in the world commodity exchanges. The methodology applied is following: study of the recent scientific literature, collection and analysis of statistical data, correlation regression analysis. The conclusion can be made that variation of general price level in Lithuania depends on changes of commodity prices in world commodity exchanges, mostly from the prices of aluminium, cocoa, coal and oil. Regression function made with analysed commodities is adequate to real situation and chosen variables X explain the 64% of inflation variability and 36% are explained by other factors. The results show that the determinate regression function could be practically used to forecast the dependence of inflation rate on the particular factors. (original abstract)
Rocznik
Tom
7
Numer
Strony
71-88
Opis fizyczny
Twórcy
  • Vilnius Gediminas Technical University, Lithuania
  • Vilnius Gediminas Technical University, Lithuania
Bibliografia
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  • ABC news (2014), Report on China's economy lifts copper prices, available online at: http://abcnews.go.com/Business/wireStory/report-chinas-economy-lifts-copper-prices-23962726, referred on 02/06/2014.
  • Akram, Q. F. (2009), Commodity prices, interest rates and the dollar, Energy Economics, Vol. 31, No 6, pp. 838-851.
  • Awokuse, T. and J. Yang (2003), The Informational Role of Commodity Prices in Formulating Monetary Policy: A Reexamination, Economics Letters, Elsevier, Vol. 79, No 2, pp. 219-224.
  • Bloomberg (2014), Global Sugar Surplus Seen by Green Pool Falling 70% in 2014-15, available online at: http://www.bloomberg.com/news/2014-02-06/global-sugar-surplusseen-by-green-pool-falling-70-in-2014-15.html, referred on 25/05/2014.
  • Bloomberg, S. B., Harris, E. S. (1995), The commodity-consumer prices connection: fact or fable? Fed Reserve Bank N.Y. Econ. Rev., pp. 21-38.
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  • Cashin, P., Liang, H., McDermott, J. C. (1999), How Persistent Are Shocks to World Commodity Prices? IMF Working paper WP/99/80 and forthcoming IMF Staff Papers, pp. 1-54.
  • Cashin, P., McDermott, C. J., Scott, A. (2002), Booms and Slumps in World Commodity Prices, Journal of Development Economics, Vol. 69, pp. 277-296.
  • Ciner, C. (2011), Commodity prices and inflation: Testing in the frequency domain, Research in International Business and Finance, Vol. 25, No. 3, pp. 229-237.
  • Cotton futures reach five-year high (2010), Rural News, available online at: http://www.abc.net.au/rural/news/stories/s969351.htm, referred on 28/05/2014.
  • Deaton, A., Laroque, G. (1992), On the Behaviour of commodity prices, Review of Economic Studies, Vol. 59, pp. 1-25.
  • Deaton, A. (1999), Commodity prices and growth in Africa, The Journal of Economic Perspectives, Vol. 13, No. 3, pp. 23-40.
  • Dudzinski, J. (2010), Financial investors in international raw materials and food markets and price movements of those commodities, Economics and Sociology, Vol. 3, No. 1, pp. 25-33.
  • Financial Times (2014), US oil Price Hits 2014 High Above 100$, available online at: http://www.ft.com/cms/s/0/5bb450f6-9281-11e3-9e43-00144feab7de.html
Typ dokumentu
Bibliografia
Identyfikatory
Identyfikator YADDA
bwmeta1.element.ekon-element-000171332849
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