Corpus ID: 154781965

Bursting the Bubble: A Long Run Perspective on Crop Commodity Prices

@inproceedings{Baldos2014BurstingTB,
  title={Bursting the Bubble: A Long Run Perspective on Crop Commodity Prices},
  author={U. Baldos and T. Hertel},
  year={2014}
}
Contrary to the opinions expressed by many commentators, the recent price spike in agricultural commodities is a transitory phenomenon. Using projections from SIMPLE – a global model of the farm and food system – we argue that, in the long run, food prices will most likely resume their historical downward trend. We begin with an evaluation of the historical period 1961 to 2006 wherein the growth in agricultural productivity outpaced that of global crop demand, the latter being fueled by rising… Expand
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