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Book
Dynamics of rural growth in Bangladesh : sustaining poverty reduction
Authors: --- ---
ISBN: 146480883X 1464808767 Year: 2016 Publisher: Washington, D.C. : The World Bank,


Book
Managing Food Price Volatility in a Large Open Country : The Case of Wheat in India
Authors: --- ---
Year: 2016 Publisher: Washington, D.C. : The World Bank,

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Abstract

India has pursued an active food security policy for many years, using a combination of trade policy interventions, public distribution of food staples, and assistance to farmers through minimum support prices defended by public stocks. This policy has been quite successful in stabilizing staple food prices, but at a high cost, and with potential risks of unmanageable stock accumulation. Based on a rational expectations storage model representing the Indian wheat market and its relation to the rest of the world, this paper analyzes the cost and welfare implications of this policy and unpacks the contribution of its different elements. To analyze alternative policies, social welfare is assumed to include an objective of price stabilization and optimal policies corresponding to this objective are assessed. Considering fully optimal policies under commitment as well as optimal simple rules, it is shown that adopting simple rules can achieve most of the gains from fully optimal policies, with both potentially allowing for lower stockholding levels and costs.

Keywords

Accelerator --- Access to Markets --- Aggregate Demand --- Agriculture --- Arbitrage --- Barriers --- Benchmark --- Bidding --- Border Price --- Cash Flow --- Choice --- Closed Economy --- Commodity --- Commodity Price --- Communication --- Consumer Price --- Consumer Price Index --- Consumers --- Consumption --- Costs --- Criteria --- Debt Markets --- Demand --- Demand Elasticity --- Demand Function --- Development Economics --- Development Policy --- Distribution --- Domestic Market --- Domestic Price --- Econometrics --- Economic Theory --- Economic Theory & Research --- Economics Research --- Elasticity --- Emerging Markets --- Equations --- Equilibrium --- Equilibrium Values --- Exchange --- Exchange Rate --- Expectations --- Exports --- Failures --- Fair --- Finance and Financial Sector Development --- Floor Price --- Food Price --- Fraud --- Free Trade --- Incentives --- Income --- Incomplete Markets --- Influence --- Inputs --- Interest --- Interest Rate --- International Economics & Trade --- International Trade --- Lags --- Laissez Faire --- Laissez-Faire --- Macroeconomics and Economic Growth --- Marginal Cost --- Marginal Utility --- Market --- Market Conditions --- Market Economy --- Market Equilibrium --- Market Failures --- Market Power --- Market Price --- Marketing --- Markets --- Markets & Market Access --- Middle-Income Country --- Multipliers --- Open Economy --- Opportunity Cost --- Optimization --- Outcomes --- Output --- Price --- Price Behavior --- Price Change --- Price Elasticity --- Price Index --- Price Instability --- Price Levels --- Price Movements --- Price Policy --- Price Risk --- Price Stability --- Price Stabilization --- Price Uncertainty --- Price Volatility --- Prices --- Private Entity --- Private Sector Development --- Producer Price --- Product --- Production --- Profit Maximization --- Public Policy --- Purchasing --- Rapid Expansion --- Real Income --- Risk Aversion --- Risk Neutral --- Risk-Averse --- Risk-Neutral --- Sales --- Savings --- Security --- Share --- Stabilization Policy --- Stock --- Storage --- Subsidy --- Substitution --- Supply --- Supply Elasticity --- Surplus --- Taxes --- Theory --- Time Value of Money --- Trade --- Trade Barriers --- Trade Policies --- Trade Policy --- Trends --- Utility --- Value --- Value of Money --- Variables --- Volatility --- Welfare --- World Market --- World Trade


Book
Managing Food Price Volatility in a Large Open Country : The Case of Wheat in India
Authors: --- ---
Year: 2016 Publisher: Washington, D.C. : The World Bank,

Loading...
Export citation

Choose an application

Bookmark

Abstract

India has pursued an active food security policy for many years, using a combination of trade policy interventions, public distribution of food staples, and assistance to farmers through minimum support prices defended by public stocks. This policy has been quite successful in stabilizing staple food prices, but at a high cost, and with potential risks of unmanageable stock accumulation. Based on a rational expectations storage model representing the Indian wheat market and its relation to the rest of the world, this paper analyzes the cost and welfare implications of this policy and unpacks the contribution of its different elements. To analyze alternative policies, social welfare is assumed to include an objective of price stabilization and optimal policies corresponding to this objective are assessed. Considering fully optimal policies under commitment as well as optimal simple rules, it is shown that adopting simple rules can achieve most of the gains from fully optimal policies, with both potentially allowing for lower stockholding levels and costs.

Keywords

Accelerator --- Access to Markets --- Aggregate Demand --- Agriculture --- Arbitrage --- Barriers --- Benchmark --- Bidding --- Border Price --- Cash Flow --- Choice --- Closed Economy --- Commodity --- Commodity Price --- Communication --- Consumer Price --- Consumer Price Index --- Consumers --- Consumption --- Costs --- Criteria --- Debt Markets --- Demand --- Demand Elasticity --- Demand Function --- Development Economics --- Development Policy --- Distribution --- Domestic Market --- Domestic Price --- Econometrics --- Economic Theory --- Economic Theory & Research --- Economics Research --- Elasticity --- Emerging Markets --- Equations --- Equilibrium --- Equilibrium Values --- Exchange --- Exchange Rate --- Expectations --- Exports --- Failures --- Fair --- Finance and Financial Sector Development --- Floor Price --- Food Price --- Fraud --- Free Trade --- Incentives --- Income --- Incomplete Markets --- Influence --- Inputs --- Interest --- Interest Rate --- International Economics & Trade --- International Trade --- Lags --- Laissez Faire --- Laissez-Faire --- Macroeconomics and Economic Growth --- Marginal Cost --- Marginal Utility --- Market --- Market Conditions --- Market Economy --- Market Equilibrium --- Market Failures --- Market Power --- Market Price --- Marketing --- Markets --- Markets & Market Access --- Middle-Income Country --- Multipliers --- Open Economy --- Opportunity Cost --- Optimization --- Outcomes --- Output --- Price --- Price Behavior --- Price Change --- Price Elasticity --- Price Index --- Price Instability --- Price Levels --- Price Movements --- Price Policy --- Price Risk --- Price Stability --- Price Stabilization --- Price Uncertainty --- Price Volatility --- Prices --- Private Entity --- Private Sector Development --- Producer Price --- Product --- Production --- Profit Maximization --- Public Policy --- Purchasing --- Rapid Expansion --- Real Income --- Risk Aversion --- Risk Neutral --- Risk-Averse --- Risk-Neutral --- Sales --- Savings --- Security --- Share --- Stabilization Policy --- Stock --- Storage --- Subsidy --- Substitution --- Supply --- Supply Elasticity --- Surplus --- Taxes --- Theory --- Time Value of Money --- Trade --- Trade Barriers --- Trade Policies --- Trade Policy --- Trends --- Utility --- Value --- Value of Money --- Variables --- Volatility --- Welfare --- World Market --- World Trade

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