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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 |
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| Meyer, Stefan; Yu, Xiaohua; Abler, David G.. |
| Using Monte-Carlo simulation, , we compare the most popular demand systems including the LES, AIDS, BTL, QES, QUAIDS and AIDADS, and find that different models actually have different advantages in estimating different elasticities. Specifically, QES, AIDS and AIDADS models are the best in income, own-price and cross-price elasticities, respectively. Overall, AIDADS model has the best performance. The results indicate that the rank three models are not necessary always better than the rank two models. |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Comparison; Demand Systems; Monte Carlo; AIDS; Consumer/Household Economics; Demand and Price Analysis; Research Methods/ Statistical Methods. |
| Ano: 2011 |
URL: http://purl.umn.edu/103736 |
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