SABIIA - Sistema Aberto e Integrado de Informação em Agricultura (Sabiia)

Monetary Impacts and Overshooting of Agricultural Prices in a Transition Economy: The Case of Slovenia

Awokuse, Titus O..

Existing empirical evidence on the impact of macroeconomic variables on agriculture remains mixed and inconclusive. This paper re-examines the dynamic relationship between monetary policy variables and agricultural prices using alternative vector autoregression (VAR) type model specifications. Directed acyclic graph theory is proposed as an alternative modeling approach to supplement existing modeling methods. Similar to results in other studies, this studys findings show that over the time period analyzed (19752000), changes to money supply as a monetary policy tool had little or no impact on agricultural prices. The primary macroeconomic policy instrument that affects agricultural prices is the exchange rate, which is shown to be directly linked to...

Tipo: Journal Article

Palavras-chave: Agricultural prices; Cointegration; Directed acyclic graphs; Monetary policy; VAR; Agricultural and Food Policy; Demand and Price Analysis.

Ano: 2005

URL: http://purl.umn.edu/10239

Bakucs, Lajos Zoltan; Bojnec, Stefan; Ferto, Imre.

The paper focus on the time adjustment paths of the exchange rate and agricultural producer and industrial prices in response to unanticipated monetary shocks following model developed by Saghaian et al. (2002). Results indicate that agricultural prices adjust faster than industrial prices to innovations in the money supply, affecting relative prices in the short run, but strict long-run money neutrality does not hold. The impulse response analysis shows that an exogenous shock to the money supply has a significant and volatile effect on the three price variables. The extent of overshooting in agricultural prices is twice as large as for exchange rates or industrial prices. This indicates that in the case of monetary shocks the sectors associated with...

Agricultural Contracts and Alternative Marketing Options: A Matching Analysis

Palavras-chave: Agricultural prices; Exchange rates; Monetary shocks; Overshooting; Transition economy; Agricultural Finance; International Relations/Trade.

Ano: 2007

URL: http://purl.umn.edu/9422

THE ANDEAN PRICE BAND SYSTEM: EFFECTS ON PRICES, PROTECTION AND PRODUCER WELFARE

Katchova, Ani L..

The increasing use of agricultural contracts and processor concentration raises concerns that processors may offer lower contract prices in absence of local competition. This study examines the price competitiveness of marketing and production contracts depending on the availability of alternative marketing options. A propensity score matching method is used to compare prices using contract data from a farm-level national survey. The results show that the absence of other contractors or spot markets in producers’ areas does not lead to statistically significant price differences in agricultural contracts for most commodities, providing evidence that most agricultural processors do not exercise market power by reducing prices when other local buyers are not...

Tipo: Journal Article

Palavras-chave: Agricultural prices; Alternative marketing options; Local competition; Marketing contracts; Production contracts; Propensity score matching; Agribusiness; Agricultural and Food Policy; Community/Rural/Urban Development; Consumer/Household Economics; Demand and Price Analysis; Financial Economics; Marketing; Q13.

Ano: 2010

URL: http://purl.umn.edu/90672

Villoria, Nelson; Lee, David R..

The Andean Community's Price Band System (APBS), introduced in 1995, had the announced goal of reducing domestic price instability by buffering fluctuations in international prices through use of a variable import tariff. This paper evaluates the effects of the Andean Price Band System on domestic producer price variability, levels of nominal protection and changes in producer welfare. Application is made to four important food products - maize, rice, sugar and milk - in Colombia, Ecuador and Venezuela, from the period 1990 to 1998. The effects of the APBS on producer price variability are analyzed through 1) comparing coefficients of variation of detrended, monthly deseasonalized real prices before and after the harmonization of the APBS in 1995, and 2)...

APLICAÇÃO DO MODELO ARIMA À PREVISÃO DO PREÇO DAS COMMODITIES AGRÍCOLAS BRASILEIRAS

Palavras-chave: Andean Community; Price band system; Agricultural prices; Price stabilization; Demand and Price Analysis.

Ano: 2002

URL: http://purl.umn.edu/19751

Pinto, Pablo Aurelio Lacerda De Almeida; Pereira, Elenildes Santana; Oliveira, Marianne Costa; Santos, Jose Marcio Dos; Maia, Sinezio Fernandes.

Atualmente as commodities representam uma significativa parcela do Produto Interno Brasileiro. Entretanto, o volume exportado pode sofrer influência significativa pelo preço apresentado no cenário internacional, alterando sensivelmente a remuneração do produtor. Dentro deste contexto, o presente trabalho se propõe a analisar o comportamento dos preços recebidos pelo produtor das principais commodities agrícola brasileiras: cacau, café, cana de açúcar, laranja e soja. Para tanto, procurou-se realizar uma previsão ex-ante para os preços destes produtos a partir da metodologia ARIMA. Os resultados obtidos fornecem uma ferramenta de análise para o mercado destas commodities, na medida em que demonstram a tendência dos preços para um horizonte de curto prazo,...

Opciones de politica de precios agricolas en el Peru: el caso de las bandas de precios

Palavras-chave: Modelagem ARIMA; Preços agrícolas; Commodities; ARIMA Modeling; Agricultural prices; International Relations/Trade.

Ano: 2008

URL: http://purl.umn.edu/109197

Escobal D'Angelo, Javier; Paz Cafferata, Julio.

Este documento analiza, en base a la experiencia peruana, las principales motivaciones para la intervención del estado en el proceso de formación de precios agrícolas. Asimismo, postula un mecanismo de bandas de precios que permite reducir la variabilidad de éstos, ligando la evolución de mediano y largo plazo de dichos precios a los costos de oportunidad de los bienes agrícolas.

Decomposing Changes in Agricultural Producer Prices

Palavras-chave: Precios agricolas; Politica de precios; Peru; Agricultural prices; Price policy; Agricultural Finance; Q11.

Ano: 1990

URL: http://purl.umn.edu/42283

Liefert, William M..

This paper develops a method for decomposing changes in agricultural producer prices. The method builds on a procedure used by the World Bank, with the key variables in the decomposition being trade prices, exchange rates, and agricultural trade policies. The main ways by which we expand on the World Bank decomposition procedure are by broadening the analysis of policy effects, and by adding the effect from incomplete transmission of changes in border prices and exchange rates to producer prices, and the effect on prices from interactions between variables as they change simultaneously. We demonstrate the decomposition method by using the Russian poultry market in the late 1990s, and find that the dominant factor in changing the producer price was the...

Monetary Impacts and Overshooting of Agricultural Prices in a Transition Economy: The Case of Slovenia

Palavras-chave: Agricultural prices; Price transmission; Exchange rates; Trade policy; Russian agriculture; Developing economies; Transition economies; Agricultural Finance; F13; O13; 024; Q11; Q17.

Ano: 2006

URL: http://purl.umn.edu/25331

Bakucs, Lajos Zoltan; Bojnec, Stefan; Ferto, Imre.

The paper focus on the time adjustment paths of the exchange rate and agricultural producer and industrial prices in response to unanticipated monetary shocks following model developed by Saghaian et al. (2002). We employ Johansen's cointegration test along with a vector error correction model to investigate whether agricultural producer prices overshoot in a transition economy. Results indicate that agricultural prices adjust faster than industrial prices to innovations in the money supply, affecting relative prices in the short run, but strict long-run money neutrality does not hold. The impulse response analysis shows that an exogenous shock to the money supply has a significant and volatile effect on the three price variables. Initially, both the...

The Long-Run Impact of Energy Prices on World Agricultural Markets: The Role of Macro-Economic Linkages

Palavras-chave: Agricultural prices; Exchange rates; Monetary shocks; Overshooting; Transition economy; Financial Economics; C32; E51; P22; Q11.

Ano: 2006

URL: http://purl.umn.edu/25515

Chantret, Francois; Gohin, Alexandre.

The world prices of food and energy products have followed similar large swings in recent years. We investigate the long run relationship between these prices using a world Computable General Equilibrium model with detailed representations of food and energy markets. Particular attention is paid to specify macro-economic linkages which have often been overlooked in recent analysis and debate. We find that the omission of these macro-economic linkages has a substantial bearing on this relationship. A positive relationship due to the cost push effect has been identified in most analysis, but we find that the introduction of the real income effect may indeed imply a negative relationship between world food and energy prices. Accordingly, it is crucial to...

Impacto de la política de precios y de crédito agrícola sobre la distribución del ingreso en el Perú: 1985-1990

Palavras-chave: Oil prices; Agricultural prices; Computable general equilibrium model; Agricultural and Food Policy; Consumer/Household Economics; Crop Production/Industries; Demand and Price Analysis; International Relations/Trade.

Ano: 2009

URL: http://purl.umn.edu/51560

Escobal D'Angelo, Javier.

Este documento describe y analiza la estrategia agrícola del gobierno aprista, desde el punto de vista de sus efectos redistributivos. La estrategia, que pretendió beneficiar principalmente a los estratos más pobres de la agricultura, tuvo como eje al PRESA, programa dirigido a asegurar una demanda creciente a precios rentables para los productores agrícolas y fue acompañado por un programa de crédito agrícola que apuntaba a aumentar los recursos financieros canalizados a la actividad agrícola.

Políticas de precios y subsidios agrícolas: impactos macroeconómico y sectorial: Perú 1985-1988

Palavras-chave: Distribucion del ingreso; Politica agraria; Precios agricolas; Politica de precios; Credito agricola; Peru; Income distribution; Agricultural policy; Agricultural prices; Price policy; Agricultural credit; Agricultural Finance; Financial Economics; Q18; Q14.

Ano: 1992

URL: http://purl.umn.edu/42249

Escobal D'Angelo, Javier.

Este documento presenta y analiza las principales políticas aplicadas por el gobierno aprista para reactivar el agro peruano, evaluando su viabilidad financiera de corto y mediano plazo y sus efectos sobre el propio sector agrario y la economía en su conjunto. Describe y analiza la política de precios agrícolas, la política cambiaria y la política crediticia; evalúa los efectos de las políticas macroeconómicas descritas y de los subsidios agrícolas, en especial aquéllos que inciden sobre la inflación, el déficit fiscal y los términos de intercambio intersectoriales.

EVOLUÇÃO DOS PREÇOS HISTÓRICOS DA BOVINOCULTURA DE CORTE DO RIO GRANDE DO SUL: TENDÊNCIA E COMPORTAMENTO DOS PREÇOS EM NÍVEL DE PRODUTOR E CONSUMIDOR

Palavras-chave: Economia agraria; Politica agraria; Sector agropecuario; Precios agricolas; Politica de precios; Subsidios; Peru; Agricultural economics; Agrarian policy; Agricultural sector; Agricultural prices; Prices policy; Subsidies; Agricultural and Food Policy; Agricultural Finance; Demand and Price Analysis; Q11; Q18.

Ano: 1989

URL: http://purl.umn.edu/42288

Viana, Joao Garibaldi Almeida; Souza, Renato Santos De; Silveira, Vicente Celestino Pires.

O presente trabalho tem o objetivo de analisar o comportamento histórico dos preços pagos ao produtor de bovinos de corte e os preços pagos pelos consumidores por diferentes cortes de carne bovina no Rio Grande do Sul nas últimas décadas. O estudo foi realizado com base em duas séries históricas de preços nominais mensais, a de preços pagos ao produtor, obtida junto à EMATER/RS e a de preços pagos pelo consumidor final, através dos valores pagos na comercialização dos cortes alcatra, coxão de dentro, coxão de fora, patinho, chuleta, filé mignon, costela e paleta, obtidos junto ao IEPE/UFRGS. Os preços nominais foram deflacionados para dezembro de 2006 pelo IGP-DI/FGV. Calcularam-se também os Índices de Preço ao consumidor e ao produtor. Para a análise de...

Monetary Impacts and Overshooting of Agricultural Prices in a Transition Economy

Palavras-chave: Bovinocultura de corte; Preços agrícolas; Séries temporais; Beef cattle production; Agricultural prices; Temporal series; Demand and Price Analysis; Livestock Production/Industries.

Ano: 2008

URL: http://purl.umn.edu/109804

Bakucs, Lajos Zoltan; Ferto, Imre.

The paper focus on the time adjustment paths of the exchange rate and prices in response to unanticipated monetary shocks following model developed by Saghaian et al. (2002). We employ Johansen's cointegration test along with a vector error correction model to investigate whether agricultural prices overshoot in a transition economy. The empirical results indicate that agricultural prices adjust faster than industrial prices to innovations in the money supply, affecting relative prices in the short run, but strict long-run money neutrality does not hold.

The Influence of Macroeconomic Variables on the Hungarian Agriculture

Palavras-chave: Agricultural prices; Exchange rates; Monetary shocks; Overshooting; Transition economy; Agricultural Finance; C32; E51; P22; Q11.

Ano: 2005

URL: http://purl.umn.edu/24711

Bakucs, Lajos Zoltan; Ferto, Imre.

This paper focus on the time adjustment paths of the exchange rate and prices in response to unanticipated monetary shocks following model developed by Saghaian et al. (2002). We employ Johansen's cointegration test along with a vector error correction model to investigate whether agricultural prices overshoot in a transition economy. The empirical results indicate that agricultural prices adjust faster than industrial prices to innovations in the money supply, affecting relative prices in the short run, but strict long-run money neutrality does not hold.

OVERSHOOTING OF AGRICULTURAL PRICES IN FOUR ASIAN ECONOMIES

Palavras-chave: Agricultural prices; Exchange rates; Monetary shocks; Overshooting; Transition economy; Demand and Price Analysis; C32; E51; P22; Q11.

Ano: 2005

URL: http://purl.umn.edu/19232

Saghaian, Sayed H.; Hasan, Mohamad F.; Reed, Michael R..

This article examines the impacts of monetary policy on agricultural prices in four Asian economies using time series analysis and graph theory. The estimations clearly show that agricultural prices overshoot their long-run equilibrium values for Korea, Philippines, and Thailand, and the overshooting for agricultural prices is larger than for manufactured prices. Impulse-response functions and variance-decomposition analysis based on directed graphs and causal structures highlight the complex interplay among the variables in the model and how those relationships differ by country. Money supply changes clearly affect real variables and relative prices for all countries either through overshooting or non-neutrality of money.

Tipo: Journal Article

Palavras-chave: Agricultural prices; Asian economies; Directed graphs; Impulse-response functions; Manufacturing prices; Monetary policy; Overshooting; Variance-decompositions; Demand and Price Analysis.

Ano: 2002

URL: http://purl.umn.edu/15524

Agricultural Contracts and Alternative Marketing Options: A Matching Analysis

Katchova, Ani L..

The increasing use of agricultural contracts and processor concentration raises concerns that processors may offer lower contract prices in absence of competition from other local contractors and spot markets. This study examines the price competitiveness of marketing and production contracts depending on the availability of alternative marketing options. A propensity score matching method is used to compare prices using contract data from a farm-level national survey. The results show that the absence of other contractors or spot markets in producers’ areas does not lead to significant price differences in agricultural contracts for most commodities, providing evidence that most agricultural processors do not exercise market power by reducing prices...

Citizens' Attitudes Towards Multifunctional Agriculture

Palavras-chave: Alternative marketing options; Local competition; Marketing contracts; Production contracts; Agricultural prices; Propensity score matching; Agribusiness; Marketing.

Ano: 2008

URL: http://purl.umn.edu/6336

Hyytia, Nina; Kola, Jukka.

This paper examines Finnish citizens' attitudes towards multifunctional agriculture and further, the connections among these attitudes, consumers' willingness to pay, and some socio economic factors. Attitudinal dimensions were executed by using factor analysis. The respondents (N=1300) were distributed into clusters based on their attitudes. It would be expected that people who have positive attitudes, would also state high values of WTP. Instead, this study suggests that attitudes and WTP do not have a positive relation. People are willing to support domestic agriculture as a provider of safe and high-quality food. However, a remarkable proportion of Finnish citizens have a positive attitude towards externalities and joint products of agriculture.

Agricultural Trade Restrictiveness in the European Union and the United States

Palavras-chave: Multifunctional agriculture; Agricultural prices; Attitudes; Consumer/Household Economics; Q18.

Ano: 2005

URL: http://purl.umn.edu/24736

Bureau, Jean-Christophe; Salvatici, Luca.

This paper provides a summary measure of the Uruguay Round tariff reduction commitments in the European Union and the United States, using the Mercantilistic Trade Restrictiveness Index (MTRI) as the tariff aggregator. We compute the index for agricultural commodity aggregates assuming a specific (Constant Elasticity of Substitution) functional form for import demand. The levels of the MTRI under the actual commitments of the Uruguay Round are computed and compared with two hypothetical cases, the Swiss Formula leading to a 36 percent average decrease in tariffs and a uniform 36 percent reduction of each tariff. This makes it possible to infer how reducing tariff dispersion would help improve market access in future trade agreements.