Aggregate African agricultural production is expected to fall due to changes in temperature and rainfall under current economic models, but 65 percent of the African labor force is employed in agriculture activity. Therefore, climatic changes have the potential to significantly impact all...

Using a balanced panel of 264 unique Illinois farmers from 2000 to 2004, this study identifies the most pertinent factors that explain the repayment capacity of farmers. After correcting for endogeneity bias caused by farmer-specific effects, one year lagged debt-to-asset ratio and soil...

Replaced with revised version of paper 07/22/11.

This paper analyzes the transmission from global commodity to domestic food prices for a large set of countries. First, a theoretical model is developed to explain price transmission for different trade regimes. Drawing from the competitive storage model under rational expectations, it is shown...