Naslov
THE CONCEPTUAL MODEL OF THE RELATIONSHIP BETWEEN COMMODITY PRICES AND INFLATION

Autori
Baković, Tomislav ; Štulec, Ivana ; Sesar, David

Vrsta, podvrsta i kategorija rada
Radovi u zbornicima skupova, cjeloviti rad (in extenso), znanstveni

Izvornik
Proceedings of The International Scientific Conference TRADE PERSPECTIVES 2022 / Baković, Tomislav ; Naletina, Dora ; Petljak, Kristina - Zagreb : Ekonomski fakultet Sveučilišta u Zagrebu ; Hrvatska gospodarska komora (HGK), 2022, 1-18

ISBN
978-953-346-194-6

Skup
Trade Perspectives 2022: Commodity prices and the global economy = Perspektive trgovine 2022: Međovisnost cijena roba i globalne ekonomije

Mjesto i datum
Zagreb, Hrvatska, 24.11.2022. - 25.11.2022

Vrsta sudjelovanja
Predavanje

Vrsta recenzije
Međunarodna recenzija

Ključne riječi
commodity prices, future markets, global economy, inflation, geopolitics

Sažetak
Global economy currently finds itself under the pressure of inflation instigated by postlockdown recuperation of economic activities, geopolitical turmoil and consequent trading sanctions on Russia and energy crisis that spilled over from Europe to the rest of the globe. In such circumstances, commodities are again gaining their importance. Future prices of key commodities such as crude oil, copper, grains and oilseeds have been widely used as barometers of the global economy in recent years. Increased commodity prices led to inflation, and the mentioned effect is most obvious in the case of energy and food prices. The paper offers a literature review on the role of commodities in global economy and analyses commodity prices in last five years. The main aim of the paper is to study the relationship between inflation and key commodities, while taking into consideration current context factors. As a result of analysis, a conceptual model of relationship between commodity prices and inflation is proposed, and discussion of possible external factors that have the potential to further influence and distort the proposed relationship is given. Future outlook is heavily dependent on monetary policy measures and geopolitics with its potential to diverse trade and deepen deglobalization.

Izvorni jezik
Engleski

Znanstvena područja
Ekonomija

POVEZANOST RADA