@article{Lan:289659,
      recid = {289659},
      author = {Lan, Hao},
      title = {Food price responds to World Commodity Markets: an  investigation on major developed and emerging countries},
      address = {2019-04-15},
      number = {2229-2019-1912},
      pages = {3},
      month = {Apr},
      year = {2019},
      abstract = {This paper investigates responses of domestic food prices  to world commodity markets regarding current concern of the  UK commodity-driven food inflation. In the empirical  analysis, we extend existing studies by using monthly data  covering major developed (the US, the UK and Australia) and  emerging markets (BRICS and Pakistan) for various  commodities over the last 30 years. We also contribute to  the literature by considering endogenous structural break  in the pass-through analysis. Our results brings useful  facts for further discussion and comparison. Regarding  agricultural-type commodities, strong pass-through is found  in major emerging markets except India, where China and  Pakistan shows relatively large pass-through. While the US  pass-through is similar to the one in the literature, the  UK is found to have a much smaller and weakly significant  pass-through. Differently, Australia food price responds to  non-agricultural commodities instead. Considering  structural break has a mixed impact on the estimated  pass-through coefficients but the main conclusions are  generally unchanged. The results are vital for a country’s  monetary policy and target of food inflation from both  short- and long-term perspective.},
      url = {http://ageconsearch.umn.edu/record/289659},
      doi = {https://doi.org/10.22004/ag.econ.289659},
}