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| Meyer, Stefan; Yu, Xiaohua. |
| Using a modified Fisher-Seater model with consideration of policy impacts, this paper attempts to tests the long-run neutrality of money supply on food prices in Germany after the launching of the Eurozone. The main findings include: (1) we can not reject the super neutrality of money for aggregated food prices; (2) However, staple food and its derived products – meat- are very sensitive to money supply, and their prices can increase to be much higher than money growth rate, perhaps due to speculative effects and demand effects; (3) Fresh or perishable products are usually less sensitive to money growth; (4) Most products decreased their prices after the launching of decoupling policy in Europe in 2003. The results can explain the links between money... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Money supply; German food prices; CAP; Agricultural and Food Policy; Agricultural Finance. |
| Ano: 2011 |
URL: http://purl.umn.edu/114640 |
