estimates of policy distortions to relative prices to address this question econometrically. We first test if these policy … standard deviation increase in distortions to relative prices reduced the region’s real GDP per capita growth rate by about …

have been quite modest even after the change in U.S. biofuel policies in 2006. In contrast, increases in the real prices of … in the real price of oil. That link, however, appears largely driven by common macroeconomic determinants of the prices … of oil and agricultural commodities rather than the pass-through from higher oil prices. We show that there is no …

prices. If this is done by countries accounting for a large share of the market, its effect is offset by increases in world … on average in stabilizing domestic prices while increasing the volatility of the income transfers from terms …. The analysis suggests that 45 percent of the increase in rice prices in 2006-8, and 30 percent of the increase in wheat …

in agriculture. We use a new data set on nominal rates of assistance (NRA) across a number of commodities spanning the … quantitative and price-based instruments used to regulate agriculture The data set admits consideration of effective taxes and …

leads to significantly larger agricultural investment and riskier production choices in agriculture. The salient constraint …

, affecting even households who have no resale motive. Export bans led to a spike in prices worldwide in the first half of 2008 … through over-extrapolation from high prices and contagion, as many households bought rice for the first and last time during …