02705nam 2200625Ia 450 991046399160332120170821160720.01-4623-4769-X1-4527-2484-91-282-84354-01-4518-7287-99786612843549(CKB)3170000000055297(EBL)1608355(SSID)ssj0000939883(PQKBManifestationID)11523023(PQKBTitleCode)TC0000939883(PQKBWorkID)10945925(PQKB)11519299(OCoLC)539117774(MiAaPQ)EBC1608355(EXLCZ)99317000000005529720090818d2009 uf 0engur|n|---|||||txtccrThe effects of economic news on commodity prices[electronic resource] is gold just another commodity? /Shaun K. Roache, Marco RossiWashington, DC International Monetary Fund, Research dept.20091 online resource (30 p.)IMF working paper ;WP/09/140"July 2009".1-4519-1716-3 Includes bibliographic references.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; AppendixThe 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. ThesIMF working paper ;WP/09/140.GoldMacroeconomicsForeign exchange ratesElectronic books.Gold.Macroeconomics.Foreign exchange rates.Roache Shaun K869965Rossi Marco307761International Monetary Fund.Research Dept.MiAaPQMiAaPQMiAaPQBOOK9910463991603321The effects of economic news on commodity prices2060002UNINA