Abstract
AbstractIn this study, we empirically examine the effects of oil‐related shocks on the prices of nine agricultural commodities for the period 1974:01–2022:02. We decompose real oil prices into three independent parts: oil supply shocks; global demand shocks; demand shocks that are specific to the crude oil market applying a symmetric VAR model. Then, we assess the effects of these three shocks on the prices of nine major agricultural commodities individually. Based on our findings, we reveal that the responses of agricultural commodity prices to an oil price change depend significantly on the timing and the driver of the underlying oil price change.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
