Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/277344 
Authors: 
Year of Publication: 
2016
Citation: 
[Journal:] European Journal of Economics and Economic Policies: Intervention (EJEEP) [ISSN:] 2052-7772 [Volume:] 13 [Issue:] 1 [Year:] 2016 [Pages:] 10-25
Publisher: 
Edward Elgar Publishing, Cheltenham
Abstract: 
This proposal argues in favor of commodity price stabilization via international commodity buffer stocks and the tying of these stocks to the creation of a new international reserve currency. Financing commodity buffer stocks through the issuance of an international reserve makes commodity price stabilization financially viable and offers a countercyclical issuance of international reserves to fight global deflation. Both measures address the volatility of commodity prices due to a lack of private sector storage and macroeconomic demand factors. This proposal urges the reader to look back to the global Keynesian policies of the 1940s, 1960s, and 1970s for inspiration in solving today's commodity price instability and secular stagnation.
Subjects: 
commodity buffer stocks
commodity reserve currency
resource security
JEL: 
B26
F02
Q02
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by Logo
Document Type: 
Article

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