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Record Nr. |
UNINA9910463991603321 |
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Autore |
Roache Shaun K |
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Titolo |
The effects of economic news on commodity prices [[electronic resource] ] : is gold just another commodity? / / Shaun K. Roache, Marco Rossi |
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Pubbl/distr/stampa |
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Washington, DC, : International Monetary Fund, Research dept., 2009 |
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ISBN |
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1-4623-4769-X |
1-4527-2484-9 |
1-282-84354-0 |
1-4518-7287-9 |
9786612843549 |
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Descrizione fisica |
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1 online resource (30 p.) |
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Collana |
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IMF working paper ; ; WP/09/140 |
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Altri autori (Persone) |
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Soggetti |
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Gold |
Macroeconomics |
Foreign exchange rates |
Electronic books. |
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Lingua di pubblicazione |
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Formato |
Materiale a stampa |
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Livello bibliografico |
Monografia |
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Note generali |
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Nota di bibliografia |
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Includes bibliographic references. |
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Nota di contenuto |
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Table of contents; I. Introduction; II. Methodology; A. Literature Review; B. Data; C. Estimation Strategy; III. Results; A. Scheduled Macroeconomic Announcements; B. "Good News", "Bad News", and Volatility; IV. Conclusion; References; Appendix |
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Sommario/riassunto |
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The paper uses an event study methodology to investigate which and how macroeconomic announcements affect commodity prices. Results show that gold is unique among commodities, with prices reacting to specific scheduled announcements in the United States and the Euro area (such as indicators of activity or interest rate decisions) in a manner consistent with gold's traditional role as a safe-haven and store of value. Other commodity prices, where such news is significant, exhibit pro-cyclical sensitivities and these have risen somewhat as commodities have become increasingly financialized. Thes |
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