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| Title: | Analyzing Factors Affecting U.S. Food Price Inflation. |
| Authors: | Baek, Jungho
Koo, Won W. |
| Authors (Email): | Baek, Jungho (jungho.baek@ndsu.edu)
Koo, Won W. (won.koo@ndsu.edu) |
| Keywords: | Agricultural commodity price
Energy price
Exchange rate
Food price inflation
Time-series analysis |
| Issue Date: | 2009-09 |
| Series/Report no.: | Agribusiness & Applied Economics
653 |
| Abstract: | Since the summer of 2007, U.S. food price has increased dramatically. Given public
anxiety over fast-rising food prices in recent years, this paper attempts to analyze the effects of market factors ─ prices of energy and agricultural commodities and exchange rate ─ on U.S. food prices using a co-integration analysis. Results show that the agricultural commodity price and exchange rate play key roles in determining the short- and long-run movement of U.S. food
prices. It is also found that in recent years, the energy price has been a significant factor affecting U.S. food prices in the long-run, but has little effect in the short-run. This implies the strong long-run linkage between energy and agricultural markets has emerged through production of commodity-based ethanol in the recent years. |
| URI: | http://purl.umn.edu/54248 |
| Institution/Association: | North Dakota State University>Department of Agribusiness and Applied Economics>Agribusiness & Applied Economics Report |
| Total Pages: | 18 |
| Collections: | Agribusiness & Applied Economics Report
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Files in This Item:
| File |
Description |
Size | Format |
|---|
| AgReport653-FactorsAffectingUSFoodPrices_9_15_2009 97.pdf | | 345Kb | PDF | View/Open |
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