Journal Article

Monetary Shocks and Relative Farm Prices: A Re-examination

Alan G. Isaac and David E. Rapach

in American Journal of Agricultural Economics

Published on behalf of Agricultural and Applied Economics Association

Volume 79, issue 4, pages 1332-1339
Published in print November 1997 | ISSN: 0002-9092
Published online November 1997 | e-ISSN: 1467-8276 | DOI: http://dx.doi.org/10.2307/1244289
Monetary Shocks and Relative Farm Prices: A Re-examination

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  • Monetary Policy, Central Banking, and the Supply of Money and Credit
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The effect of monetary policy on the farm sector remains controversial. Studies of the effects of monetary disturbances on relative farm prices report conflicting results: some find that positive monetary shocks increase relative farm prices in the short run, and others detect no such effect. We offer a resolution of these conflicting findings by reestimating existing models on a common data set. When sample periods corresponding to the original studies are used, the conflicting results are confirmed. In contrast, when samples are updated through 1993, all models supply the same result: monetary shocks do not affect relative farm prices.

Keywords: monetary policy; relative farm price; E520; Q110

Journal Article.  0 words. 

Subjects: Monetary Policy, Central Banking, and the Supply of Money and Credit ; Agricultural Economics

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