OECD Economic Activity and Non-Oil Commodity Prices [electronic resource]: Reduced-Form Equations for INTERLINK / Gerald Holtham and Martine Durand

By:

Holtham, Gerald

Contributor(s):

Durand, Martine

Material type: Article

ArticleSeries: OECD Economics Department Working Papers ; no.42.Publication details: Paris : OECD Publishing, 1987.Description: 28 p. ; 21 x 29.7cmSubject(s):

Economics

Online resources:

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Abstract: 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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Item type	Home library	Collection	Call number	Status	Date due	Barcode	Item holds
Working Paper	Biblioteca Digital	Colección OECD	OECD 385873764137 (Browse shelf(Opens below))	Not For Loan

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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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