U.S. retail food price increases in recent years may seem large in nominal terms, but after adjusting for inflation have been quite modest even after the change in U.S. biofuel policies in 2006. In contrast, increases in the real prices of corn, soybeans, wheat and rice received by U.S. farmers...

This paper considers the domestic and international ramifications of financialization and grain price instability in the US agri-food sector. It finds that during the recent period of high and volatile prices, the average income of large-scale farms reached the earnings threshold of the top...

We analyse a stylized model of the world grain market characterized by a small oligopoly of traders with market power on both the supply and demand side. Crops are stochastic and exporting countries can impose export tariffs to protect domestic food prices. Our first results is that export...

We analyse a stylized model of the world grain market characterized by a small oligopoly of traders with market power on both the supply and demand side. Crops are stochastic and exporting countries can impose export tariffs to protect domestic food prices. Our first result is that export...

This paper further builds on the price transmission model framework of existing studies to identify domestic wheat price effects of wheat export controls. We explicitly take the fact into account that a harvest failure causes domestic price effects as well. Moreover, the analysis at the regional...

The Middle East and North Africa (MENA) region is the top destination for Russian food exports, grains in particular. Focusing on Turkey, Egypt, Iran, and Saudi Arabia, this chapter shows that Russia's food trade with MENA countries is strongly affected by bilateral political relations. Russia...

This study investigates the relation of pre-railroad transport infrastructure on Westphalian grain market integration in the early 19th century. It is motivated by recently found indications of macroeconomic change in Prussia such as increased demand for labour, disappearance of positive...

During the second half of the eighteenth century, the Ottoman policy-makers adopted a more liberal attitude towards price formation. This was accompanied by the fiscal and administrative centralization of the grain trade. These seemingly contradictory policy changes could, in part, be explained...