We present a Bayesian structural Vector Autoregressive model of the global wheat market to examine the relative importance of supply and demand shocks, which are interpreted as the fundamental driving forces of wheat price. To our knowledge, this is the first SVAR analysis that jointly considers...

This paper studies the effect of political regime transitions on public policy using a new data set on global agricultural and food policies over a 50-year period (including data from 74 developing and developed countries over the 1955-2005 period). The authors find evidence that democratization...

Mass media play a crucial role in information distribution and in the political market and public policy making. Theory predicts that information provided by the mass media reflects the media's incentives to provide news to different groups in society and affects these groups' influence in...