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Author: Matthias Kalkuhl Publisher: Springer ISBN: 3319282018 Category : Business & Economics Languages : en Pages : 626
Book Description
This book provides fresh insights into concepts, methods and new research findings on the causes of excessive food price volatility. It also discusses the implications for food security and policy responses to mitigate excessive volatility. The approaches applied by the contributors range from on-the-ground surveys, to panel econometrics and innovative high-frequency time series analysis as well as computational economics methods. It offers policy analysts and decision-makers guidance on dealing with extreme volatility.
Author: Per Pinstrup-Andersen Publisher: Wider Studies in Development E ISBN: 0198718578 Category : Business & Economics Languages : en Pages : 545
Book Description
Since 2006, global food prices have fluctuated greatly around an increasing trend and price spikes were observed for key food commodities such as rice, wheat, and maize.
Author: B.R. Munier Publisher: IOS Press ISBN: 1614990379 Category : Business & Economics Languages : en Pages : 256
Book Description
The recent global financial crisis exposed the serious limitations of existing economic and financial models. Not only did macro models fail to predict the crisis, they seemed incapable of explaining what was happening to the economy. Policymakers felt abandoned by the conventional tools of the now obsolete Washington consensus and the World Trade Organization’s oversimplified faith in free markets.The traditional models for agricultural commodities have so far failed to take into account the uncertain character of the global agricultural economy and its ferocious consequences in food price volatility, the worst in 300 years, yielding hunger riots throughout the world. This book explores the elements which could help to close this fundamental modeling gap. To what extent should traditional models be questioned regarding agricultural commodities? Are prices on these markets foreseeable? Can their evolution be either predicted or convincingly simulated, and if so, by which methods and models? Presenting contributions from acknowledged experts from several countries and backgrounds – professors at major international universities or researchers within specialized international organizations – the book concentrates on four issues: the role of expectations and capacity of prediction; policy issues related to development strategies and food security; the role of hoarding and speculation and finally, global modeling methods. The book offers a renewed wisdom on some of the core issues in the world economy today and puts forward important innovations in analyzing these core issues, among which the modular modeling design, the Momagri model being a seminal example of it. Reading this book should inspire fruitful revisions in policy-making to improve the welfare of populations worldwide.
Author: Isabelle Piot-Lepetit Publisher: Springer Science & Business Media ISBN: 1441976345 Category : Business & Economics Languages : en Pages : 231
Book Description
This book examines the issue of price volatility in agricultural commodities markets and how this phenomenon has evolved in recent years. The factors underlying the price spike of 2007-08 appear to be global and macroeconomic in nature, including the rapid growth in demand by developing countries, the international financial crisis, and exchange rate movements. Some of these factors are new, appearing as influences on price volatility only in the last decade. Although volatility has always been a feature of agricultural commodity markets, the evidence suggests that volatility has increased in certain commodity markets. A growing problem is that agricultural price shocks and volatility disrupt agricultural markets, economic incentives and incomes. With increased globalization and integration of financial and energy markets with agricultural commodity markets, the relationships between markets are expanding and becoming more complex. When a crisis such as a regional drought, food safety scare or a financial crisis hits a particular market, policy-makers often do not know the extent to which it will impact on other markets and affect producer, consumer and trader decisions. Including contributions from experts at the World Bank, the Food and Agriculture Organization of the United Nations, the USDA, and the European Commission, the research developed throughout the chapters of this book is based on current methodologies that can be used to analyze price volatility and provide directions for understanding this volatility and the development of new agricultural policies. The book highlights the challenges facing policy makers in dealing with the changing nature of agricultural commodities markets, and offers recommendations for anticipating price movements and managing their consequences. It will be a practical guide for both present and future policy-makers in deciding on potential price-stabilizing interventions, and will also serve as a useful resource for researchers and students in agricultural economics.
Author: Abdul-Aziz Iddrisu Publisher: Routledge ISBN: 1000528510 Category : Business & Economics Languages : en Pages : 88
Book Description
This book focuses on the impact of monetary policy and food price volatility and inflation in emerging and developing economies. The tendency for food price volatility to blot inflation forecasting accuracy, engender tail dynamics in the overall inflation trajectory and derail economic welfare is well known in the literature. The ability of monetary policy to exact stability in food prices, theoretically, has also been well espoused. The empirical evidence, however, is not only in short supply, but also the studies available have dwelt on approaches that underplay the volatile behaviour of food prices. This book focuses on inflation targeting in emerging economies such as Chile, Mexico, Turkey, Brazil, Hungary, Russia, Colombia, South Africa, Indonesia and Ghana, as these are economies with considerable proportion of the consumption basket occupied by food. The book provides the means to understand at first hand the correct way to model food inflation, account for the related policy responses to deviations either in the short or medium to long term, and in market conditions that are subject to excessive variability. Strong evidence is presented that captures deviations of food prices from their trend and the accompanying monetary policy effect in stabilizing such variabilities across distinct frequencies. The novel approach in this book addresses the burgeoning puzzles of asymmetry in monetary policy effect on food prices at high, medium and low episodes of food inflation. In doing so, this book presents a powerful tool for researchers interested in understanding not just the transmission mechanism, but also the magnitudes involved, and to policymakers whose existing tools have failed them. Future studies will do well to deepen the evidence and seek new grounds to which the phenomenon manifests beyond and below emerging markets. This book will be of great interest to students, scholars and policymakers involved in agricultural economics, financial economics, food security and sustainable development.
Author: Travis Minor Publisher: Routledge ISBN: 0429554699 Category : Business & Economics Languages : en Pages : 312
Book Description
Food loss is a serious issue in the United States. It affects all aspects of the supply chain, from farmers to consumers. While much is already known about loss at the consumer level, our understanding of the amount of food that never makes it to this stage is more limited. The Economics of Food Loss in the Produce Industry focuses on the economics of food loss as they apply to on-farm produce production, and the losses that are experienced early. The book both analyses current food loss literature and presents new empirical research. It draws lessons from those who have encountered these issues by focusing on how past regional or national estimates of food loss have been conducted with varying degrees of success. It includes chapters on several themes: understanding food loss from an economic perspective; efforts to measure food loss; case studies across commodities within the produce industry; and economic risks and opportunities. The commodity case studies provide detailed discussion of factors impacting changes in loss levels within the produce industry, and a wealth of knowledge on strategies and contexts is developed. The book concludes by identifying critical knowledge gaps and establishing future priorities. This book serves as an essential reference guide for academics, researchers, students, legislative liaisons, non-profit associations, and think tank groups in agriculture and agricultural economics.
Author: Mr.Shaun K. Roache Publisher: International Monetary Fund ISBN: 145520112X Category : Business & Economics Languages : en Pages : 31
Book Description
The macroeconomic effects of large food price swings can be broad and far-reaching, including the balance of payments of importers and exporters, budgets, inflation, and poverty. For market participants and policymakers, managing low frequency volatility—i.e., the component of volatility that persists for longer than one harvest year—may be more challenging as uncertainty regarding its persistence is likely to be higher. This paper measures the low frequency volatility of food commodity spot prices using the spline- GARCH approach. It finds that low frequency volatility is positively correlated across different commodities, suggesting an important role for common factors. It also identifies a number of determinants of low frequency volatility, two of which—the variation in U.S. inflation and the U.S. dollar exchange rate—explain a relatively large part of the rise in volatility since the mid-1990s.
Author: Harry de Gorter Publisher: Palgrave Macmillan ISBN: 9781137414847 Category : Business & Economics Languages : en Pages : 0
Book Description
The global food crises of 2008 and 2010 and the increased price volatility revolve around biofuels policies and their interaction with each other, farm policies and between countries. While a certain degree of research has been conducted on biofuel efficacy and logistics, there is currently no book on the market devoted to the economics of biofuel policies. The Economics of Biofuel Policies focuses on the role of biofuel policies in creating turmoil in the world grains and oilseed markets since 2006. This new volume is the first to put together theory and empirical evidence of how biofuel policies created a link between crop (food grains and oilseeds) and biofuel (ethanol and biodiesel) prices. This combined with biofuel policies role in affecting the link between biofuels and energy (gasoline, diesel and crude oil) prices will form the basis to show how alternative US, EU, and Brazilian biofuel policies have immense impacts on the level and volatility of food grain and oilseed prices.
Author: Adam Prakash Publisher: Bright Sparks ISBN: Category : Food prices Languages : en Pages : 620
Book Description
A timely publication as world leaders deliberate the causes of the latest bouts of food price volatility and search for solutions that address the recent velocity of financial, economic, political, demographic, and climatic change. As a collection compiled from a diverse group of economists, analysts, traders, institutions and policy formulators - comprising multiple methodologies and viewpoints - the book exposes the impact of volatility on global food security, with particular focus on the world's most vulnerable.
Author: Jean-Paul Chavas
Author: Jean-Paul Chavas
Author: Matthias Kalkuhl
Author: Per Pinstrup-Andersen
Author: B.R. Munier
Author: Isabelle Piot-Lepetit
Author: Abdul-Aziz Iddrisu
Author: Travis Minor
Author: Mr.Shaun K. Roache
Author: Harry de Gorter
Author: Adam Prakash