Worldwide Acreage and Yield Response to International Price Change and Volatility: A Dynamic Panel Data Analysis for Wheat, Rice, Corn, and Soybeans

@inproceedings{Haile2016WorldwideAA,
  title={Worldwide Acreage and Yield Response to International Price Change and Volatility: A Dynamic Panel Data Analysis for Wheat, Rice, Corn, and Soybeans},
  author={Mekbib Gebretsadik Haile and Matthias Kalkuhl and Joachim von Braun},
  year={2016}
}
This article estimates a worldwide aggregate supply response for key agricultural commodities— wheat, rice, corn, and soybeans—by employing a newly-developed multi-country, crop-calendar-specific, seasonally disaggregated model with price changes and price volatility applied accordingly. The findings reveal that, although higher output prices serve as an incentive to improve global crop supply as expected, output price volatility acts as a disincentive. Depending on the crop, the results show… CONTINUE READING

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