货币政策通过商品价格传导

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This IMF Working Paper examines the impact of monetary policy on commodity prices and inflation dynamics. The authors find that a 10 basis points increase in the US monetary policy rate leads to a reduction in commodity prices between 0.5% and 2.5% after 18 to 24 business days. The effects are larger for highly storable and industrial commodities. The study suggests that monetary policy transmission through commodity prices is an important channel for inflation dynamics.