Intervention by governments in their foreign trade sectors fundamentally alters the character and composition of agricultural trade by making imports less responsive to international price changes than they otherwise would be. Intervention can also make world market prices change more frequently...

Commodity price volatility in international markets has been used to justify numerous policy interventions, including the need for buffer stocks and counter-cyclical payments. The common measure of volatility, the standard deviation or coefficient of variation, likely overstates the actual...

Commodity price volatility in international markets has been used to justify numerous policy interventions, including the need for buffer stocks and counter-cyclical payments. The common measure of volatility, the standard deviation or coefficient of variation, likely overstates the actual...