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Workshop on Commodity Cycles and their Implications

Welcome and Opening Remarks

By Aldo Flores-Quiroga (International Energy Forum)

Session 1: Technological Advancement and Commodity Dynamics

How has technological advancement in the broad economy or in commodity production affected commodity prices? To what extent can these factors explain the recent movements in oil prices?

Discussion Moderator: Césaire Meh

The Impact of Shale Oil on Oil Prices and Arab Oil Producers

Lutz Kilian (University of Michigan)

The Great Plunge in Oil Prices: Causes, Consequences and Policy Responses

John Baffes (The World Bank)

Industrialization and the Demand for Mineral Commodities

Martin Stuermer (Federal Reserve Bank of Dallas)

Session 2: Distributional Effects of Commodity Shocks

How do shocks in particular commodity markets affect welfare across economic strata within a country as well as globally? How should monetary policy in a small open economy respond to such shocks?

Discussion Moderator: Timothy Lane

U.S. Ethanol Demand and World Hunger: Is There a Connection?

Michael Wetzstein (Purdue University)

Welfare and Distributional Implications of Shale Gas

Catherine Hausman (University of Michigan)

World Food Prices and Monetary Policy

Luis Catão (International Monetary Fund)

Session 3: Implications of Oil Price Shocks

What are the sector-specific and aggregate impact of oil price shocks in the United States, Canada and other countries? What determines whether a country benefits or suffers from a decline in oil prices?

Discussion Moderator: Adam Sieminski (U.S. Energy Information Administration)

Going Dutch? The Impact of Oil Price Shocks on the Canadian Economy

Kenneth McKenzie (University of Calgary)

Where Do Jobs Go When Oil Prices Drop?

Ana María Herrera (University of Kentucky)

Oil Price Elasticities and Oil Price Fluctuations

Dario Caldera (Board of Governors of the Federal Reserve System)

Panel: Swing Production and the Role of Credit

What have we learned about physical and financial energy market interactions and the role of the credit markets in changing production and storage dynamics?

Moderator: Aldo Flores-Quiroga (International Energy Forum)


Michael Cohen (Barclays)
David Fyfe (Gunvor Group)
Adam Sieminski (U.S. Energy Information Administration)
Hilary Till (University of Colorado Denver Business School)
Anthony Yuen (Citi Research)

Round Table Discussion

Closing Remarks

Timothy Lane

Content Type(s): Conferences and workshops