Trend and cycle in primary commodity prices: A neo-Schumpeterian interpretation
This paper adapts Schumpeter's theory of economic development and the business cycle for the purpose of analysing movements in prices of primary commodities in both the short and long run. Schumpeter focuses his analysis on movements in prices of finished consumer goods, but he clearly recogniz...
| Main Authors: | , , |
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| Other Authors: | |
| Format: | Conference Paper |
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The Schumpeterian Society
2009
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| Subjects: | |
| Online Access: | http://hdl.handle.net/20.500.11937/34056 |
| _version_ | 1848754117617385472 |
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| author | Bloch, Harry Madsen, J. Sapsford, D. |
| author2 | Christian Seidl |
| author_facet | Christian Seidl Bloch, Harry Madsen, J. Sapsford, D. |
| author_sort | Bloch, Harry |
| building | Curtin Institutional Repository |
| collection | Online Access |
| description | This paper adapts Schumpeter's theory of economic development and the business cycle for the purpose of analysing movements in prices of primary commodities in both the short and long run. Schumpeter focuses his analysis on movements in prices of finished consumer goods, but he clearly recognizes that prices of primary products are both directly and indirectly affected by the same mechanism that drives finished goods prices. We extend Schumpeter's analysis by directly examining features of primary commodity production and consumption that are weakly developed by Schumpeter. We find that the extended analysis fits nicely to data on commodity prices over the period 1650 to 2008. |
| first_indexed | 2025-11-14T08:35:19Z |
| format | Conference Paper |
| id | curtin-20.500.11937-34056 |
| institution | Curtin University Malaysia |
| institution_category | Local University |
| last_indexed | 2025-11-14T08:35:19Z |
| publishDate | 2009 |
| publisher | The Schumpeterian Society |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | curtin-20.500.11937-340562017-01-30T13:41:01Z Trend and cycle in primary commodity prices: A neo-Schumpeterian interpretation Bloch, Harry Madsen, J. Sapsford, D. Christian Seidl business cycles Schumpeter structural change Primary commodity prices innovation This paper adapts Schumpeter's theory of economic development and the business cycle for the purpose of analysing movements in prices of primary commodities in both the short and long run. Schumpeter focuses his analysis on movements in prices of finished consumer goods, but he clearly recognizes that prices of primary products are both directly and indirectly affected by the same mechanism that drives finished goods prices. We extend Schumpeter's analysis by directly examining features of primary commodity production and consumption that are weakly developed by Schumpeter. We find that the extended analysis fits nicely to data on commodity prices over the period 1650 to 2008. 2009 Conference Paper http://hdl.handle.net/20.500.11937/34056 The Schumpeterian Society fulltext |
| spellingShingle | business cycles Schumpeter structural change Primary commodity prices innovation Bloch, Harry Madsen, J. Sapsford, D. Trend and cycle in primary commodity prices: A neo-Schumpeterian interpretation |
| title | Trend and cycle in primary commodity prices: A neo-Schumpeterian interpretation |
| title_full | Trend and cycle in primary commodity prices: A neo-Schumpeterian interpretation |
| title_fullStr | Trend and cycle in primary commodity prices: A neo-Schumpeterian interpretation |
| title_full_unstemmed | Trend and cycle in primary commodity prices: A neo-Schumpeterian interpretation |
| title_short | Trend and cycle in primary commodity prices: A neo-Schumpeterian interpretation |
| title_sort | trend and cycle in primary commodity prices: a neo-schumpeterian interpretation |
| topic | business cycles Schumpeter structural change Primary commodity prices innovation |
| url | http://hdl.handle.net/20.500.11937/34056 |