, ; ; ; "ActiveFedora::Aggregation::ListSource" . a , ; "Mussa Meets Backus-Smith: The Role of Primary Commodities"; ; "kate.s.hansel@mpls.frb.org"; "Federal Reserve Bank of Minneapolis"; "Primary commodity prices", "Mussa puzzle", "Backus-Smith puzzle"; "F41 - Open Economy Macroeconomics", "F31 - Foreign Exchange"; "We show that explicitly modeling primary commodities in an otherwise totally standard incomplete markets open economy model can go a long way in explaining the Mussa puzzle and the Backus-Smith puzzle, two of the main puzzles in the international economics literature."^^; "2022-04-20"; "2021-09-23T20:28:35.573938297+00:00"^^; ; "https://doi.org/10.21034/wp.781"; ; "https://creativecommons.org/licenses/by-nc/4.0/"; "2023-03-01T16:21:41.179712522+00:00"^^; "https://creativecommons.org/licenses/by-nc/4.0/"; "Research Paper"; "340", "44", "562"; "Working paper (Federal Reserve Bank of Minneapolis. Research Department)"; "781"; "Backus-Smith puzzle", "Mussa puzzle", "Primary commodity prices"; ; ; ; ; "Federal Reserve Bank of Minneapolis. Research Department"; """[Online Appendix](https://doi.org/10.21034/wp.782 \"Online Appendix\") This paper previously circulated with the title _Real Exchange Rates and Primary Commodity Prices: Mussa Meets Backus-Smith_."""^^; ; "Publication" . ; ; . ; ; .