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This paper analyzes the transmission from global commodity to domestic food prices for a large set of countries. First, a theoretical model is developed to explain price transmission for different trade regimes. Drawing from the competitive storage model under rational expectations, it is shown...
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Figure 1.21 World trade is expected to decline in 2009 for the first time since 1982 …The eruption of the worldwide financial crisis has radically recast prospects for the world economy. Global Economic …
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