The macroeconomic outcomes of oil price fluctuations have been at the forefront of the debate among economists, financial analysts and policymakers over the last decades. Among others, the oil price-food price nexus has particularly received a great deal of attention. While an abundant body of...

Of recent, there has been growing global concerns over energy and food prices. A combination of record high oil and food prices are destabilizing element for the global economy because of their potential severe growth, inflation and distributional effects. In terms of their impact on income...