For the biofuel markets and related commodities, we study their price transmission, which is in fact equivalent to studying price cross-elasticities. Importantly, we focus on the price dependence of the price transmission mechanism. Several methodological caveats are discussed. Specifically, we...

World food prices surged strongly in recent years, with two waves of rising prices in 2007-08 and 2010-11. For food-importing countries affected at the same time by significant levels of undernourishment and malnutrition, sudden rises in the international price of food may have a strong impact...

High and volatile food prices pose a significant policy challenge around the world, and an understanding of the dynamics of food price inflation and volatility is essential in designing appropriate policy responses. Using the panel data for 72 countries from 2000 to 2011, the paper assesses the...