Acknowledgments
Introduction
Takatoshi Ito and Andrew K. Rose
I. Forecasting Currencies with Commodity Prices
1. Commodity Prices, Commodity Currencies, and Global Economic Developments
Jan J.J. Groen and Paolo A. Pesenti
Comment: Kalok Chan
Comment: Roberto S. Mariano
2. The Relationship between Commodity Prices and Currency Exchange Rates: Evidence from the Future Markets
Kalok Chan, Yiuman Tse, and Michael Williams
Comment: Tokuo Iwaisako
Comment: Doo Yong Yang
II. Commodity Prices, the Terms of Trade, and Exchange Rates
3. Identifying the Relationship between Trade and Exchange Rate Volatility
Christian Broda and John Romalis
Comment: Chaiyasit Anuchitworawong
Comment: Mark M. Spiegel
4. The Consumption Terms of Trade and Commodity Prices
Martin Berka and Mario J. Crucini
Comment: Roberto S. Mariano
Comment: Mark M. Spiegel
III. “Pass-Through” of Commodity Prices to the General Price Level
5. Pass-Through of Oil Prices to Japanese Domestic Prices
Etsuro Shioji and Taisuke Uchino
Comment: Yuko Hashimoto
Comment: Donghyun Park
6. The Effects of Oil Price Changes on the Industry-Level Production and Prices in the United States and Japan
Ichiro Fukunaga, Naohisa Hirakata, and Nao Sudo
Comment: Francis T. Lui
Comment: Warwick J. McKibbin
7. Price Pass-Through, Household Expenditure, and Industrial Structure: The Case of Taiwan
Biing-Shen Kuo and Su-Ling Peng
Comment: Cayetano Paderanga Jr.
Comment: Arianto A. Patunru
IV. Macroeconomic Effects of Oil Prices
8. Oil and Macroeconomy: The Case of Korea
Junhee Lee and Joonhyuk Song
Comment: Tokuo Iwaisako
Comment: Mohamed Rizwan Habeeb Rahuman
9. Oil Shocks in a DSGE Model for the Korean Economy
Sungbae An and Heedon Kang
Comment: Warwick J. McKibbin
Comment: Pengfei Wang
Contributors
Author Index
Subject Index