Fluctuations of commodity prices, most notably of oil, capture considerable attention and have been tied to important economic effects. This book advances our u

This book provides a clear-eyed analysis of questions at the intersection of commodity markets, natural resource economics, and public policy.

We compile a historical dataset covering nearly 40 years of booms and busts in the commodity terms of trade of over 150 countries. We discuss the characteristic

Over the past decades, inequality has risen not just in advanced economies but also in many emerging market and developing economies, becoming one of the key gl

(Now available from Productivity Press, Cambridge, Mass.)