Discussion Paper
Monetary Policy Stance and Commodity Cycles in Emerging Economies
Abstract: Emerging market economies, particularly those that depend heavily on commodity exports, have long been characterized by more volatile and disruptive business-cycle dynamics than their advanced-economy counterparts. A large literature has studied the drivers of these fluctuations, including total factor productivity shocks, world interest rate shocks, and terms-of-trade disturbances.
https://doi.org/10.17016/2380-7172.4116
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https://www.federalreserve.gov/econres/notes/feds-notes/monetary-policy-stance-and-commodity-cycles-in-emerging-economies-20260731.html
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Provider: Board of Governors of the Federal Reserve System (U.S.)
Part of Series: FEDS Notes
Publication Date: 2026-07-31
Number: 2026-07-31