OECD Economic Activity and Non-Oil Commodity Prices Reduced-Form Equations for INTERLINK
This paper gives an overview of the determination of non-oil commodity prices in the Economics and Statistics Department's INTERLINK world model. The practical problems which have been encountered, in particular in the context of full simulations are discussed. Based on a number of statistical...
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| Format: | eBook Section |
| Language: | Inglés |
| Published: |
Paris :
OECD Publishing
1987.
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| Series: | OECD Economics Department Working Papers,
no.42. |
| Subjects: | |
| See on Biblioteca Universitat Ramon Llull: | https://discovery.url.edu/permalink/34CSUC_URL/1im36ta/alma991009706033006719 |
| Summary: | This paper gives an overview of the determination of non-oil commodity prices in the Economics and Statistics Department's INTERLINK world model. The practical problems which have been encountered, in particular in the context of full simulations are discussed. Based on a number of statistical tests, a new specification of the commodity price block is proposed. Indices of nominal commodity prices measured in dollars are estimated as functions of OECD economic activity and inflation, U.S. interest rates and oil prices. Compared to the previous system, the new equations are better behaved in a number of respects ... |
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| Physical Description: | 1 online resource (28 p. ) |
