From 2003 to their peak in mid 2008, the nominal prices of maize and wheat roughly doubled, while those of rice tripled in a matter of months rather than years. Although fundamental factors were clearly responsible for shifting the world to a higher equilibrium price during this time, there is...

To meet its overall objective of ensuring food security for all households, the Government of Bangladesh undertakes several activities: it intervenes in markets to stabilize prices, targets food distribution to poor households and provides emergency relief after natural disasters. This paper...

This paper explores the effect of transaction costs on aggregate supply and demand and marketed surplus. A five-good non-separable household model is used to illustrate the effect of transaction costs on a generic African household. Then, the paper examines the aggregate behavior of a market...

To meet its overall objective of ensuring food security for all households, the Government of Bangladesh undertakes several activities: it intervenes in markets to stabilize prices, targets food distribution to poor households and provides emergency relief after natural disasters. This paper...

This paper examines the role of price incentives in the observed decline in cotton production during the 1980s and in the apparent improvement in recent years. The following determinants (in an accounting sense) of the changes in the relative producer price of cotton during 1980-92 are...