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The Economics of Food Price Volatility
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The Economics of Food Price Volatility

Jean-Paul Chavas, David Hummels, and Brian D. Wright

Abstract

There is still no consensus on the underlying reasons for recent drastic changes in food prices and continuing agricultural market volatility merits a thorough investigation. This book is a collection of research and discussion by various experts on food price volatility, its effect on the farmer and consumer alike, and an evaluation of current knowledge on the subject. They also identify topics that merit further analysis. With great advances in agricultural technology, the fluctuations can largely be attributed to changes in economic policies. Corn has a high degree of importance in the US, ... More

Keywords: volatility, food market, farmers, consumers, agricultural policy, food price, agricultural technology, price fluctuations

Bibliographic Information

Print publication date: 2014 Print ISBN-13: 9780226128924
Published to Chicago Scholarship Online: May 2015 DOI:10.7208/chicago/9780226129082.001.0001

Authors

Affiliations are at time of print publication.

Jean-Paul Chavas, editor
Anderson-Bascom Professor of Agricultural and Applied Economics, University of Wisconsin, Madison

David Hummels, editor

Brian D. Wright, editor
Chair, Department of Agricultural and Resource Economics, University of California, Berkeley

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Contents

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Introduction

Jean-Paul Chavas, David Hummels, and Brian D. Wright

2 Corn Production Shocks in 2012 and Beyond

Steven T. Berry, Michael J. Roberts, and Wolfram Schlenker

5 Bubble Troubles? Rational Storage, Mean Reversion, and Runs in Commodity Prices

Eugenio S. A. Bobenrieth, Juan R. A. Bobenrieth, and Brian D. Wright

6 Bubbles, Food Prices, and Speculation

Nicole M. Aulerich, Scott H. Irwin, and Philip Garcia

8 Food Price Spikes, Price Insulation, and Poverty

Kym Anderson, Maros Ivanic, and William J. Martin Christophe Gouel

9 Trade Insulation as Social Protection

Quy-Toan Do, Andrei A. Levchenko, and Martin Ravallion