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The “not-so-modern” consumer – considerations on food prices, food security, new technologies and market distortions AgEcon
Tsioumanis, Asterios; Mattas, Konstadinos.
Although food quality and food safety issues seem to dominate discussion and research in Europe, price inflation and economic recession may pose questions over food abundance over the coming years. For the first time since the early seventies, market stability for a number of commodities is seriously questioned. The paper tackles the fluctuation of food prices in the last decade and the reasons behind recent record prices in a series of commodities, trying to investigate whether food shortages may create new problems, even for relatively economically stable nations. Lowering stock levels that induce price volatility, production shortfalls due to adverse conditions that are often correlated to climate change, oil prices, changing diet patterns in regions...
Tipo: Conference Paper or Presentation Palavras-chave: Food insecurity; Biofuels; Food prices; Market distortion; Financial speculation; Agricultural and Food Policy.
Ano: 2009 URL: http://purl.umn.edu/58151
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Oil Price Dynamics, Macro-Finance Interactions and the Role of Financial Speculation AgEcon
Morana, Claudio.
What is the role of financial speculation in determining the real oil price? We find that while macroeconomic shocks have been the major upward driver of the real oil price since the mid 1980s, also financial shocks have sizably contributed since the early 2000s, and at a much larger extent since the mid 2000s: over the period 2004:1 through 2010:3, the real oil price increased 65%; of the latter, 33% is related to fundamental financial shocks, 11% to non fundamental financial shocks, with macroeconomic and oil market supply side shocks contributing with a 5% and 3% increase, respectively. Yet, it would be inaccurate describing the third oil price shock as a purely financial episode: macroeconomic shocks largely accounted for the 65% real oil price run up...
Tipo: Working Paper Palavras-chave: Oil Price; Financial speculation; Macro-finance Interface; International Business Cycle; Factor Vector Autoregressive Models; Resource /Energy Economics and Policy; C22; E32; G12.
Ano: 2012 URL: http://purl.umn.edu/121723
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