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Please use this identifier to cite or link to this item: http://purl.umn.edu/100650

Title: Food Price Volatility and Macroeconomic Factors: Evidence from GARCH and GARCH-X Estimates
Authors: Apergis, Nicholas
Rezitis, Anthony N.
Keywords: relative food prices
volatility
macroeconomic factors
GARCH and GARCHX models
JEL Codes: E60
Q10
Q19
Issue Date: 2011-02
Abstract: This article examines food price volatility in Greece and how it is affected by short-run deviations between food prices and macroeconomic factors. The methodology follows the GARCH and GARCH-X models. The results show that there exists a positive effect between the deviations and food price volatility. The results are highly important for producers and consumers because higher volatility augments the uncertainty in the food markets. Once the participants receive a signal that the food market is volatile, this might lead them to ask for increased government intervention in the allocation of investment resources and this could reduce overall welfare.
URI: http://purl.umn.edu/100650
Institution/Association: Journal of Agricultural and Applied Economics>Volume 43, Number 01, February 2011
Total Pages: 16
From Page: 95
To Page: 110
Collections:Volume 43, Number 01, February 2011

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