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When prices spike in international grain markets, national governments often reduce the extent to which that spike affects their domestic food markets. Those actions exacerbate the price spike and international welfare transfer associated with the terms of trade change. Several recent analyses...
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1. Introduction -- 2. Consumer Demand: Theory -- 3. Consumer Demand: Separability and Commodity Aggregation -- 4 … consumer demand theory; quality, heterogeneous goods, and cross section demand; derived demand, marketing margins, and … its focus on bridging the gap between theory and empirical analysis. Going from theory to empirics requires that we have …
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The traditional consumer price index is often produced at an aggregate level, using data from few, highly urbanized, areas. As such, it poorly describes price trends in rural or poverty-stricken areas, where large populations may reside in fragile situations. Traditional price data collection...
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