In this paper, we analyze how lack of credibility and transparency of monetary and fiscal policies undermines the effectiveness of macroeconomic policies to isolate the economy from commodity price fluctuations. We develop a general equilibrium model for a commodity-exporting economy where macro...

Commodity price shocks are an important type of external shock and are often cited as a problem for economic growth in Sub-Saharan Africa. We choose nine Sub Saharan African countries that are heavily dependent on a single agricultural commodity for a significant portion of their income. This...

Commodity price shocks are an important type of external shock and are often cited as a problem for economic growth in sub-Saharan Africa. This paper quantifies the impact of agricultural commodity price shocks using a near vector autoregressive model. The novel aspect of this model is that we...

Commodity price shocks are an important type of external shock and are often cited as a problem for economic growth in sub-Saharan Africa. This paper quantifies the impact of agricultural commodity price shocks using a near vector autoregressive model. The novel aspect of this model is that we...

The study investigates the effects of the Russian-Ukrainian war, the COVID-19 pandemic, and exchange rate fluctuations on the average return, contagion dynamics, and persistence of risks associated with three staples in Türkiye: wheat, sunflower oil, and corn. The pandemic and the war disrupted...

Zur Zeit der Einführung des Quotensystems war die Struktur der Milchproduktion in Deutschland eher ungünstig. Durch die anfängliche strikte Flächenbindung der Quote wurden strukturelle Anpassungen behindert. Die Einführung des Quotentransfers ohne Land im Jahr 1993 erleichterte...