@article{Brandao:197443,
      recid = {197443},
      author = {Brandao, Antoniob Salzazar},
      title = {Macroeconomics and Agriculture in Brazil: Results from  Vector Autoregressions},
      address = {1987},
      number = {992-2016-77590},
      pages = {5},
      year = {1987},
      abstract = {This paper sets up an empirical framework to examine the  relat10nsh1p between monetary po hey and
relative prices of  agncultural commod1t1es and the impacts of agncultural  shocks on relative prices and the money
supply. The  observed poltcy mterrelat1onsh1ps between macroeconom1cs  and agnculture have counterparts in the
data Expansion m  the money supply usually leads to a dechne m the tem1s of  trade for agnculture Supply shocks,
as expected, have  opposite effects. Despite all the d1scussmn presently  taking place about whether unrestricted
vector  autoregress1ons are useful for policy analysis, one should  not disregard the above ftndmgs m designing new
polJCies.  In particular, a new agncultural pohcy that is less  dependent on credit at concessionary rates has to rely
on  some compensatory scheme, wluch may simply be better pnces  (e.g., less discnmmation against the foodproducrng
sector)  or any other pos1t1ve measure. Questions of efficiency and  the spec1f1c goals of society should
determine the po hey  mix to be adopted.},
      url = {http://ageconsearch.umn.edu/record/197443},
      doi = {https://doi.org/10.22004/ag.econ.197443},
}