Unemployment and Primary Commodity Prices

Unemployment and Primary Commodity Prices

Theory and Evidence in a Global Perspective

by Annalisa Cristini

182 pages· 1999· ISBN 9781349149728
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The book discusses the links between primary commodity prices and the OECD rate of unemployment. In particular it formalises and estimates a macroeconomic model which by endogenizing both the OECD rate of unemployment and primary commodity prices, is capable of accounting for the feedback running from the primary market back to the OECD economy. Simulations are also performed to provide insights into the propagation mechanism of an oil price shock and the role played by the various factors to determine the final effect.

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