In this paper, we: 1. Provide a conceptual discussion of the “portfolio” of mechanisms used by farms and households to adjust to price, income and wealth shocks. Farms adjust their production activities and employment to maximize profits given changes in relative prices and factor returns....

The paper examines the impact of industrial protection, agricultural export taxes, and overvaluation of the exchange rate on the balance between the agricultural and nonagricultural sectors. Various agricultural terms-of-trade indices are constructed to measure the policy bias against...

This study, Indus basin of Pakistan: the impacts of climate risks on water and agriculture was undertaken at a pivotal time in the region. The weak summer monsoon in 2009 created drought conditions throughout the country. This followed an already tenuous situation for many rural households faced...