Like many developing countries, the Philippines pursues a food security strategy in which self-sufficiency and price stabilization feature prominently. In addition to their widely debated welfare effects, food policies based on price and trade restrictions may also accelerate land degradation by...

Previous studies show that firms with low inventory growth outperform firms with high inventory growth in the cross-section of publicly traded firms. In addition, inventory investment is volatile and procyclical, and inventory-to-sales is persistent and countercyclical. We embed an inventory...