01739cas a2200265 a 4500 AALejournalIMF007659 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451858327 1018-5941 BD-DhAAL BD-DhAAL McDermott, C. The Myth of Comoving Commodity Prices / C. McDermott, Alasdair Scott, Paul Cashin. Washington, D.C. : International Monetary Fund, 1999. 1 online resource (20 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students There is a common perception that the prices of unrelated commodities move together. This paper re-examines this notion, using a measure of comovement of economic time series called concordance. Concordance measures the proportion of time that the prices of two commodities are concurrently in the same boom period or same slump period. Using data on the prices of several unrelated commodities, the paper finds no evidence of comovement in commodity prices. The results carry an important policy implication, as the study provides no support for earlier claims of irrational trading behavior by participants in world commodity markets. Mode of access: Internet Cashin, Paul. Scott, Alasdair. IMF Working Papers; Working Paper ; No. 1999/169 Full text available on IMF http://elibrary.imf.org/view/journals/001/1999/169/001.1999.issue-169-en.xml IMF e-Library