The Costs of Commodity Price Uncertainty and Instability
Title | The Costs of Commodity Price Uncertainty and Instability PDF eBook |
Author | Andrew Powell |
Publisher | |
Pages | 25 |
Release | 1992 |
Genre | Economics |
ISBN |
" The costs of commodity price uncertainty and instability"
Title | " The costs of commodity price uncertainty and instability" PDF eBook |
Author | A. Powell |
Publisher | |
Pages | 25 |
Release | 1992 |
Genre | |
ISBN |
The Effects on Growth of Commodity Price Uncertainty and Shocks
Title | The Effects on Growth of Commodity Price Uncertainty and Shocks PDF eBook |
Author | Jan Dehn |
Publisher | World Bank Publications |
Pages | 66 |
Release | 2000 |
Genre | Agricultural prices |
ISBN |
The author estimates the effects on growth of commodity price shocks, and uncertainty within an established empirical growth model. Ex-post shocks, and ex-ante uncertainty have been treated in the empirical literature as if they were synonymous. But they are distinct concepts, and it is both theoretically, and empirically inappropriate to treat them as synonymous. He shows that the interaction between policy, and aid is robust to the inclusion of variables capturing commodity price movements. More important, his approach departs in three ways from earlier empirical studies of the subject: 1) It deals with issues of endogeneity, without incurring an excessive loss of efficiency. 2) It defines the dependent variable to allow an assessment of the longer-term implications of temporary trade shocks. 3) It imposes no priors on how commodity price movements affect growth, but compares and contrasts a range of competing shock, and uncertainty specifications. The author resolves the disagreement about the long-run effect of positive shocks on growth, finding that positive shocks have no long-run impact on growth (that windfalls from trade shocks do not translate into sustainable increases in income). He shows that negative shocks have large, highly significant, and negative effects on growth, but that commodity price uncertainty does not affect growth.
The Economics of Food Price Volatility
Title | The Economics of Food Price Volatility PDF eBook |
Author | Jean-Paul Chavas |
Publisher | University of Chicago Press |
Pages | 394 |
Release | 2014-10-14 |
Genre | Business & Economics |
ISBN | 022612892X |
"The conference was organized by the three editors of this book and took place on August 15-16, 2012 in Seattle."--Preface.
dealing with commodity price uncertainty
Title | dealing with commodity price uncertainty PDF eBook |
Author | Panos Varangis |
Publisher | World Bank Publications |
Pages | 52 |
Release | 1996 |
Genre | Commodity exchanges |
ISBN |
The Theory of Price Uncertainty, Production, and Profit
Title | The Theory of Price Uncertainty, Production, and Profit PDF eBook |
Author | Clement Allan Tisdell |
Publisher | Princeton University Press |
Pages | 208 |
Release | 2015-12-08 |
Genre | Business & Economics |
ISBN | 1400876338 |
Firms and farmers, under pure competition, must make production decisions in the face of price uncertainty. The author has integrated diverse theories of behavior under uncertainty to provide a new framework for his mathematical analysis of the impact of price uncertainty on the behavior of the firm. Drawing upon the work of Knight, Hicks, von Neumann, and Morgenstern, he develops a schema that accounts for a greater diversity of behavior than do existing theories, yet one which yields simple economic theorems of practical value. The conclusions he draws apply to both socialist and capitalist economics. Originally published in 1968. The Princeton Legacy Library uses the latest print-on-demand technology to again make available previously out-of-print books from the distinguished backlist of Princeton University Press. These editions preserve the original texts of these important books while presenting them in durable paperback and hardcover editions. The goal of the Princeton Legacy Library is to vastly increase access to the rich scholarly heritage found in the thousands of books published by Princeton University Press since its founding in 1905.
The Volatility of the Relative Price of Commodities In Terms of Manufactures Across Exchange Regimes
Title | The Volatility of the Relative Price of Commodities In Terms of Manufactures Across Exchange Regimes PDF eBook |
Author | Ms.Hong Liang |
Publisher | International Monetary Fund |
Pages | 22 |
Release | 1998-12-01 |
Genre | Business & Economics |
ISBN | 1451980639 |
This paper investigates the relationship between the nominal exchange rate regime and the volatility of relative commodity prices. The analysis shows that the relationship depends upon both the market structure and the economic agent’s perception about future exchange rate movements. When the markets for manufactured goods are less competitive than the markets for primary commodities, the volatility of relative commodity prices rises when exchange rate uncertainty increases. If demand for manufactured goods is intertemporally dependent, even a small increase in exchange rate uncertainty can result in potentially large costs in terms of increased relative commodity price instability.