Journal of Scientific Papers

ECONOMICS & SOCIOLOGY


© CSR, 2008-2015
ISSN 2071-789X



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  • General Founder and Publisher:


    Centre of Sociological Research

  • Publishing Partners:

     
     
    University of Szczecin (Poland)


    Mykolas Romeris University (Lithuania)

     

     
     
    Alexander Dubcek University of Trencín, Faculty of Social and Economic Relations (Slovak Republic)



     
    University of Entrepreneurship and Law, (Czech Republic)

     

  • Membership:


    American Sociological Association


    European Sociological Association


    World Economics Association (WEA)

     


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The Research on the Impact of the Changes of Commodity Price Level in the World Commodity Exchanges on Variation of General Price Level

Vol. 7, No 4, 2014

 

Algita Miečinskienė,

Department of Financial Engineering,

Faculty of Business Management,

Vilnius Gediminas Technical University,

Vilnius, Lithuania,

E-mail: algita.miecinskiene@vgtu.lt

 

 

THE RESEARCH ON THE IMPACT OF THE CHANGES OF COMMODITY PRICE LEVEL IN THE WORLD COMMODITY EXCHANGES ON VARIATION OF GENERAL PRICE LEVEL

Indrė Lapinskaitė,

Department of Financial Engineering,

Faculty of Business Management,

Vilnius Gediminas Technical University,

Vilnius, Lithuania,

E-mail: indre.lapinskaite@vgtu.lt

 

 

 

ABSTRACT. The purpose of the paper is to investigate the influence of changes of commodity price level in the world commodity exchanges on variation of general price level index in Lithuania. Object of the research is commodity price level in the world commodity exchanges. The methodology applied is following: study of the recent scientific literature, collection and analysis of statistical data, correlation regression analysis. The conclusion can be made that variation of general price level in Lithuania depends on changes of commodity prices in world commodity exchanges, mostly from the prices of aluminium, cocoa, coal and oil. Regression function made with analysed commodities is adequate to real situation and chosen variables X explain the 64% of inflation variability and 36% are explained by other factors. The results show that the determinate regression function could be practically used to forecast the dependence of inflation rate on the particular factors.

 

Received: June, 2014

1st Revision: September, 2014

Accepted: November, 2014

 



DOI:10.14254/2071-789X.2014/7-4/5

JEL Classification: E31

Keywords: general price level, inflation, commodity price, commodity exchange, market, Lithuania.