NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Macroeconomic Performance During Commodity Price Booms and Busts

Luis Felipe Céspedes, Andrés Velasco

NBER Working Paper No. 18569
Issued in November 2012

---- Acknowledgements -----

Prepared for the IMF-CBRT Conference "Policy Responses to Commodity Price Movements", held on April 6-7, 2012. We are grateful to Juan Matamala for excellent research assistantship. We are also grateful to Pierre-Olivier Gourinchas and Ayhan Kose (the editors), two anonymous referees and our discussant Silvana Tenreyro for useful comments and suggestions. We thank Gustavo Adler, Cesar Calderón, Luis Catao, Gian Maria Milesi-Ferretti and Nikola Spatafora for sharing their data with us. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.

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