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Do Oil Price Increases Cause Higher Food Prices?

Baumeister, Christiane; Kilian, Lutz - C.E.P.R. Discussion Papers - 2013

U.S. retail food price increases in recent years may seem large in nominal terms, but after adjusting for inflation have been quite modest even after the change in U.S. biofuel policies in 2006. In contrast, increases in the real prices of corn, soybeans, wheat and rice received by U.S. farmers...

Persistent link: https://www.econbiz.de/10011084483

Integration in the English wheat market 1770-1820

Brunt, Liam; Cannon, Edmund - C.E.P.R. Discussion Papers - 2013

Cointegration analysis has been used widely to quantify market integration through price arbitrage. We show that total price variability can be decomposed into: (i) magnitude of price shocks; (ii) correlation of price shocks; (iii) between-period arbitrage. All three measures depend upon data...

Persistent link: https://www.econbiz.de/10011084541

Hoard Behavior During Commodity Bubbles

De Paula, Áureo; Hong, Harrison G; Singh, Vishal - C.E.P.R. Discussion Papers - 2015

Hoarding by large speculators is often blamed for contributing to commodity market panics and bubbles. Using supermarket scanner data on US household purchases during the 2008 Rice Bubble, we show that hoarding is in fact more systemic, affecting even households who have no resale motive. Export...

Persistent link: https://www.econbiz.de/10011184086

Exchange Rate Pass-Through to Consumer Prices in South Africa: Evidence from Micro-Data

Aron, Janine; Creamer, Kenneth; Muellbauer, John; … - C.E.P.R. Discussion Papers - 2013

A sizeable literature examines exchange rate pass-through to disaggregated import prices but very few micro-studies focus on consumer prices. This paper explores exchange rate pass-through to consumer prices in South Africa during 2002-2007, using a unique data set of highly disaggregated data...

Persistent link: https://www.econbiz.de/10011084277

Multinational Enterprises and New Trade Theory: Evidence for the Convergence Hypothesis

Barrios, Salvador; Görg, Holger; Strobl, Eric - C.E.P.R. Discussion Papers - 2001

According to the ‘convergence hypothesis’, multinational companies will tend to displace national firms and trade as … measures are then used to test the convergence hypothesis for a panel of data of country pairs over the years 1985-96. Our … results provide some empirical support for the convergence hypothesis. …

Persistent link: https://www.econbiz.de/10005504219

GMM Estimation of Empirical Growth Models

Bond, Stephen Roy; Hoeffler, Anke; Temple, Jonathan - C.E.P.R. Discussion Papers - 2001

This Paper highlights a problem in using the first-differenced GMM panel data estimator to estimate cross-country growth regressions. When the time series are persistent, the first-differenced GMM estimator can be poorly behaved, since lagged levels of the series provide only weak instruments...

Persistent link: https://www.econbiz.de/10005504299

Neoclassical Growth and Commodity Trade

Cuñat, Alejandro; Maffezzoli, Marco - C.E.P.R. Discussion Papers - 2002

countries. Moreover, it does not necessarily yield convergence in levels for identically parameterized economies. All in all …

Persistent link: https://www.econbiz.de/10005504435

Technological Diffusion, Convergence and Growth

Barro, Robert J.; Sala-i-Martin, Xavier - C.E.P.R. Discussion Papers - 1995

We construct a model that combines elements of endogenous growth with the convergence implications of the neoclassical … costs to increase reduces followers' growth rates and thereby generates a pattern of conditional convergence. We discuss how …

Persistent link: https://www.econbiz.de/10005504608

Workers, Machines and Economic Growth

Zeira, Joseph - C.E.P.R. Discussion Papers - 1995

This paper models technology adoption as replacing workers by machines, which perform the same job in the production process. The paper shows that such modelling of technology adoption affects significantly the analysis of economic growth. This model can explain large and persistent...

Persistent link: https://www.econbiz.de/10005504740

Tests of the `Convergence Hypothesis': A Critical Note

Cohen, Daniel - C.E.P.R. Discussion Papers - 1992

I argue in this paper that the `speed of convergence' estimated in recent works on `convergence' does not capture … `actual' convergence towards a steady state, but rather conditional dynamics towards a moving target. Although this … conditional convergence can be taken to imply that there are decreasing returns to such storable assets as physical and human …

Persistent link: https://www.econbiz.de/10005504752