Sharing a ride on the commodities roller coaster : common factors in business cycles of emerging economies

Borradores de Economia
Número: 
915
DOI: 
http://doi.org/10.32468/be.915
Publicado: 
Clasificación JEL: 
E32, F41, F44
Palabras clave: 
emerging economies, business cycles, Commodity Prices, Common Factors
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Fluctuations in commodity prices are an important driver of business cycles in small emerging market economies (EMEs). We document how these fluctuations correlate strongly with the business cycle in EMEs. We then embed a commodity sector into a multi-co