A Roller Coaster Ride: An Empirical Investigation of the Main Drivers of Wheat Price

Algieri, Bernardina

doi:10.1007/978-3-319-28201-5_10

Cited by 5 publications

(5 citation statements)

References 53 publications

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“…Several authors emphasise the importance of the climate change on food price volatility (Roache, ; Algieri, ). One of the major climatic phenomena is large‐scale fluctuations in air pressure occurring between the western and eastern tropical Pacific (the state of the Southern Oscillation).…”

Section: Incorporating Exogenous Drivers Of Volatilitymentioning

confidence: 99%

Volatility in Oilseeds and Vegetable Oils Markets: Drivers and Spillovers

Brümmer¹,

Korn²,

Schlüßler³

et al. 2015

J Agricultural Economics

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Food price volatility has re‐emerged as an important topic of political discussion since the food price crisis of 2007–2008. Different volatility drivers have been identified for different markets in the theoretical and empirical literature. However, there is no comprehensive analysis that considers a large number of potential drivers and investigates their joint effects in a dynamic model of interrelated markets. Our study provides such a volatility analysis for the oilseeds and vegetable oils markets. We use a common GARCH approach and a VAR model to identify volatility drivers and spillover effects. Our results show that exchange rate volatility is very important. However, the hotly debated financialisation of commodity markets is not found to be volatility increasing in our monthly data. Impulse response functions show strong spillover effects. Because many volatility drivers found to be important in other markets have no significant effect in our study, our results suggest that volatility drivers are market specific. This implies that any volatility‐reducing policies need to be designed for the market in question.

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Section: Incorporating Exogenous Drivers Of Volatilitymentioning

confidence: 99%

Volatility in Oilseeds and Vegetable Oils Markets: Drivers and Spillovers

Brümmer¹,

Korn²,

Schlüßler³

et al. 2015

J Agricultural Economics

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“…Weather anomalies have an important influence on the world's production and price of agricultural commodities. A rise in SOI, associated with La Niña events, 11 points to increasing droughts throughout the mid-latitudes, where much of wheat, maize and soybeans are produced, thus damaging yields (Iizumi et al 2014;Algieri, 2016;Brunner, 2002) and driving up prices. For this reason, La Niña episodes have historically been associated with global food crises.…”

Section: Contribution Of Different Inflation Drivers To International...mentioning

confidence: 99%

The Changing Drivers of Food Inflation – Macroeconomics, Inflation, and War

Algieri,

Kornher,

von Braun

2024

SSRN Journal

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“…Further macroeconomic factors that led to higher prices are (1) the depreciation of the US dollar, the currency of choice for most international commodity transactions, which put an upward pressure on demand from non‐US dollar commodity consumers and producers (Gilbert 2010a,b; Algieri 2013), and (2) restrictive trade policies. A host of authors (Yang et al 2008; Dawe and Slayton 2010; Headey 2011; Sharma 2011; Martin and Anderson 2012) have shown that the sequence of restrictions and bans implemented by exporting countries such as India, Thailand, China, and Russia have exacerbated price increases.…”

Section: An Overview Of the Main Causes Of Price Hikes And Volatilitymentioning

confidence: 99%

World Food System Disruptions in the Early 2000s: Causes, Impacts, and Cures

2014

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The rapidly rising and more‐volatile food prices of recent years are a significant indication of changes in global markets and a signal of resource scarcity. They pose new challenges in terms of food and nutrition security at the worldwide level. This article traces the main drivers and impacts of food price increases, and proposes institutional changes in the world food system to help overcome chronic supply constraints through enhanced productivity, combined with actions to address new causes of food price volatility, such as financialization of commodity markets and linkages to energy markets. The price crises of 2008 and 2011, and to a lesser extent in 2012, have been met with often, uncoordinated national policy adjustments with international implications. To prevent such collective actions failures in the international food system, comprehensive institutional changes are proposed.

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A Roller Coaster Ride: An Empirical Investigation of the Main Drivers of Wheat Price

Cited by 5 publications

References 53 publications

Volatility in Oilseeds and Vegetable Oils Markets: Drivers and Spillovers

Volatility in Oilseeds and Vegetable Oils Markets: Drivers and Spillovers

The Changing Drivers of Food Inflation – Macroeconomics, Inflation, and War

World Food System Disruptions in the Early 2000s: Causes, Impacts, and Cures

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