Causes of the 2000s food price surge: Insights from structural VAR

Arbeitspapier

In 2001 began a rise in the prices of food commodities not seen since the 1970s. The prices of grains - the major staple foods - increased fivefold between 2003 and 2008, leading to the additional malnutrition of millions around the world. Many observers attribute the strong increase in part to speculation in derivatives markets. We examine this hypothesis by comparing the impact of speculation to that of fundamental supply and demand forces. We estimate the share of the price increase attributable to the respective market forces using a sign identified structural vector autoregressive model. Speculation is identifid using storage data, though a residual price shock is allowed to ensure the robustness of the findings.

Angaben zum Objekt

• Sprache: Englisch

Verweise und Beziehungen

• Erschienen in: Series: MAGKS Joint Discussion Paper Series in Economics ; No. 31-2016

Klassifikation und Themen

• Klassifikation: Wirtschaft

Beteiligte, Orts- und Zeitangaben

• Ereignis: Geistige Schöpfung
• (wer): Grabowski, Daniel
• Ereignis: Veröffentlichung
• (wer): Philipps-University Marburg, School of Business and Economics
• (wo): Marburg
• (wann): 2016

Weitere Informationen

• Handle: http://hdl.handle.net/10419/146638
• Letzte Aktualisierung: 10.03.2025, 11:42 MEZ