INTERACTION OF WORLD PRICES FOR RAW MATERIALS AND BASIC INDICATORS OF THE WORLD ECONOMY

Abstract

In the article was assed the functional dependencies between income in the world economy, the LIBOR rate, the US dollar exchange rate and the dynamics of world raw materials prices by using VAR and VAR / VEC methods. Using the VAR models with cyclic variables, the macroeconomic impact of world prices for raw materials on the main indicators of the world economy was demonstrated (indicators of the US economy were selected as its approximate characteristics ). By means of decomposition of residuals of VAR-models, the weight of each variable is determined in the changes of other dependent variables.