seen from Czechia
seen from United States
seen from United States
seen from Russia
seen from United States
seen from China
seen from United States
seen from United States
seen from China
seen from Iraq
seen from Canada
seen from Belarus
seen from Italy
seen from United States
seen from United States
seen from United States
seen from Uzbekistan
seen from Mexico
seen from Pakistan
seen from United States
Most existing studies of the macroeconomic effects of global shocks assume that they are mediated by a single intratemporal relative price such as the terms of trade and possibly an intertemporal price such as the world interest rate. This paper presents an empirical framework in which multiple commodity prices and the world interest rate transmit world disturbances.
