Price Transmission Channels of Energy and Exchange Rate on Food Sector: A Disaggregated Approach based on Stage of Process
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The recent concurrent surges of food and energy prices renew our interest on the vulnerability of food system to sudden changes in the energy sector. Unlike previous studies focusing on the impacts of a single energy price on food sector, this study explores such dependency utilizing various food and energy prices classified by stage of processing. Based on the method proposed by Toda and Yamamoto(1995) and Dolado and Lütkepohl(1996) of Granger causality tests, we identify how the movements of the exchange rate and the various energy prices affect on the food prices from farmers to consumers.
Abstract
The recent concurrent surges of food and energy prices renew our interest on the vulnerability of food system to sudden changes in the energy sector. Unlike previous studies focusing on the impacts of a single energy price on food sector, this study explores such dependency utilizing various food and energy prices classified by stage of processing. Based on the method proposed by Toda and Yamamoto(1995) and Dolado and Lütkepohl(1996) of Granger causality tests, we identify how the movements of the exchange rate and the various energy prices affect on the food prices from farmers to consumers.
참고문헌 (41)
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