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UID:event-9403@www.amse-aixmarseille.fr
DTSTAMP:20260429T052925Z
CREATED:20260429T052925Z
LAST-MODIFIED:20260429T052925Z
STATUS:CONFIRMED
SEQUENCE:0
SUMMARY:Macro and labor market seminar - Erica Perego
DTSTART:20230119T113000Z
DTEND:20230119T123000Z
DESCRIPTION:With commodities becoming international financial securities\, 
 commodity prices are affected by the international financial cycle. With th
 is evidence in mind\, this paper reconsiders the macroeconomic adjustment o
 f developing commodity-exporting countries to changes in world interest rat
 es. We proceed by building a model of a small open economy that produces a 
 non-tradable good and a storable tradable commodity. The difference with st
 andard models of small open economies lies in the endogenous response of co
 mmodity prices which -due to commodity storage- adjust to variations in int
 ernational interest rates. We find that the endogenous response of commodit
 y prices amplifies the reaction of commodity exporting countries to interna
 tional monetary shocks. This suggests that commodity exporting countries ar
 e more vulnerable to unfavourable international monetary disturbances than 
 other small open economies. In particular\, because of the existence of the
  commodity price channel\, even those small open commodity-exporting econom
 ies that are disconnected from international financial markets can be affec
 ted by the international financial cycle.\\n\\nContact: Andreas Dibiasi : a
 ndreas.dibiasi[at]univ-amu.frCéline Poilly : celine.poilly[at]univ-amu.fr\
 n\nPlus d'informations: https://www.amse-aixmarseille.fr/fr/evenements/eric
 a-perego
LOCATION:MEGA - Salle Carine Nourry\, 424\, Chemin du Viaduc\, 13080 Aix-en
 -Provence
URL;VALUE=URI:https://www.amse-aixmarseille.fr/fr/evenements/erica-perego
CONTACT:Andreas Dibiasi : andreas.dibiasi[at]univ-amu.frCéline Poilly : ce
 line.poilly[at]univ-amu.fr
TRANSP:OPAQUE
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