The Price Is Not Always Right : On the Impacts of Commodity Prices on Households (and Countries)

This paper provides an overview of the impact that one-time changes in commodity and other prices have on household welfare. It begins with a collection of stylized facts related to commodities based on household survey data from Latin America and Africa. The data uncovers strong commodity dependenc...

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Main Authors:	Lederman, Daniel, Porto, Guido
Format:	Journal Article
Language:	en_US
Published:	Published by Oxford University Press on behalf of the World Bank 2017
Subjects:	COMMODITY PRICES HOUSEHOLD WELFARE PRICE TRANSMISSION
Online Access:	http://hdl.handle.net/10986/27702

id	okr-10986-27702
recordtype	oai_dc
spelling	okr-10986-277022021-05-25T10:54:42Z The Price Is Not Always Right : On the Impacts of Commodity Prices on Households (and Countries) Lederman, Daniel Porto, Guido COMMODITY PRICES HOUSEHOLD WELFARE PRICE TRANSMISSION This paper provides an overview of the impact that one-time changes in commodity and other prices have on household welfare. It begins with a collection of stylized facts related to commodities based on household survey data from Latin America and Africa. The data uncovers strong commodity dependence on both regions: households typically allocate a large fraction of their budget to commodities, and they often also depend on commodities to earn their income. This income and expenditure dependency suggests sizable impacts and adjustments following commodity price shocks. The article explores these effects with a review of the relevant literature. The authors study consumption and income responses, labor market responses, and spillovers across sectors. The paper provides evidence on the relative magnitudes of various mechanisms through which commodity prices affect household (and national) welfare in developing economies. Commodity price changes, Poverty and welfare impacts, Net consumers and net producers. 2017-08-09T22:17:23Z 2017-08-09T22:17:23Z 2016-02 Journal Article World Bank Research Observer 1564-6971 http://hdl.handle.net/10986/27702 en_US CC BY-NC-ND 3.0 IGO http://creativecommons.org/licenses/by-nc-nd/3.0/igo World Bank Published by Oxford University Press on behalf of the World Bank Publications & Research :: Journal Article Publications & Research Africa Latin America & Caribbean Africa Latin America
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	en_US
topic	COMMODITY PRICES HOUSEHOLD WELFARE PRICE TRANSMISSION
spellingShingle	COMMODITY PRICES HOUSEHOLD WELFARE PRICE TRANSMISSION Lederman, Daniel Porto, Guido The Price Is Not Always Right : On the Impacts of Commodity Prices on Households (and Countries)
geographic_facet	Africa Latin America & Caribbean Africa Latin America
description	This paper provides an overview of the impact that one-time changes in commodity and other prices have on household welfare. It begins with a collection of stylized facts related to commodities based on household survey data from Latin America and Africa. The data uncovers strong commodity dependence on both regions: households typically allocate a large fraction of their budget to commodities, and they often also depend on commodities to earn their income. This income and expenditure dependency suggests sizable impacts and adjustments following commodity price shocks. The article explores these effects with a review of the relevant literature. The authors study consumption and income responses, labor market responses, and spillovers across sectors. The paper provides evidence on the relative magnitudes of various mechanisms through which commodity prices affect household (and national) welfare in developing economies. Commodity price changes, Poverty and welfare impacts, Net consumers and net producers.
format	Journal Article
author	Lederman, Daniel Porto, Guido
author_facet	Lederman, Daniel Porto, Guido
author_sort	Lederman, Daniel
title	The Price Is Not Always Right : On the Impacts of Commodity Prices on Households (and Countries)
title_short	The Price Is Not Always Right : On the Impacts of Commodity Prices on Households (and Countries)
title_full	The Price Is Not Always Right : On the Impacts of Commodity Prices on Households (and Countries)
title_fullStr	The Price Is Not Always Right : On the Impacts of Commodity Prices on Households (and Countries)
title_full_unstemmed	The Price Is Not Always Right : On the Impacts of Commodity Prices on Households (and Countries)
title_sort	price is not always right : on the impacts of commodity prices on households (and countries)
publisher	Published by Oxford University Press on behalf of the World Bank
publishDate	2017
url	http://hdl.handle.net/10986/27702
_version_	1764465933597802496

The Price Is Not Always Right : On the Impacts of Commodity Prices on Households (and Countries)

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