Drivers and triggers of international food price spikes and volatility
TLDR
In this paper, the authors explore empirical evidence about the quantitative importance of supply, demand, and market shocks for price changes in international food commodity markets and distinguish between root, conditional, and internal drivers of price changes using three empirical models: (1) a price spike model in which monthly food price returns (spikes) are estimated against oil prices, supply and demand shocks, and excessive speculative activity; (2) a volatility model, in which annualized monthly variability of food prices is estimated against the same set of variables plus a financial crisis index; and (3) a triggerAbout:
This article is published in Food Policy.The article was published on 2014-08-01 and is currently open access. It has received 285 citations till now. The article focuses on the topics: Mid price & Volatility smile.read more
Citations
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Diverging importance of drought stress for maize and winter wheat in Europe
Heidi Webber,Frank Ewert,Jørgen E. Olesen,Christoph Müller,Stefan Fronzek,Alex C. Ruane,Maryse Bourgault,Pierre Martre,Behnam Ababaei,Behnam Ababaei,Behnam Ababaei,Marco Bindi,Roberto Ferrise,Robert Finger,Nándor Fodor,C. Gabaldón-Leal,Thomas Gaiser,Mohamed Jabloun,Kurt Christian Kersebaum,Jon I. Lizaso,Ignacio J. Lorite,Loic Manceau,Marco Moriondo,Claas Nendel,Alfredo Rodríguez,Alfredo Rodríguez,Margarita Ruiz-Ramos,Mikhail A. Semenov,Stefan Siebert,Tommaso Stella,Pierre Stratonovitch,Giacomo Trombi,Daniel Wallach +32 more
TL;DR: It is reported that drought stress will remain a key driver of yield losses in wheat and maize across Europe, and benefits from CO2 will be limited in low-yielding years.
Journal ArticleDOI
Global financial crisis and rising connectedness in the international commodity markets
Dayong Zhang,David C. Broadstock +1 more
TL;DR: In this paper, a dramatic change in the nature of connectedness in global commodity prices following the 2008 global financial crisis is documented, showing that co-dependence in price changes among seven major commodity classes goes from a pre-crisis average of 14.82% to a strikingly larger average of 47.87% in the period following the crisis, and which has endured until now.
Journal ArticleDOI
This food crisis is different: COVID-19 and the fragility of the neoliberal food security order
Jennifer Clapp,William G Moseley +1 more
TL;DR: In this article, the authors argue that the legacies left by these past food crises can be traced back to the policies that led to the current COVID-19 induced food crisis.
Journal ArticleDOI
Food production shocks across land and sea
Richard S. Cottrell,Kirsty L. Nash,Benjamin S. Halpern,Benjamin S. Halpern,Tomas A. Remenyi,Stuart Corney,Aysha Fleming,Aysha Fleming,Elizabeth A. Fulton,Elizabeth A. Fulton,Sara Hornborg,Alexandra Johne,Reg Watson,Julia L. Blanchard +13 more
TL;DR: In this paper, an integrated assessment of global production data from crop, livestock, aquaculture and fisheries sectors over 53 years was conducted to understand how shocks occurring in one food sector can create diverse and linked challenges among others.
Journal ArticleDOI
2°C and SDGs: united they stand, divided they fall?
Christoph von Stechow,Christoph von Stechow,Jan C. Minx,Jan C. Minx,Keywan Riahi,Keywan Riahi,Jessica Jewell,David L. McCollum,Max Callaghan,Christoph Bertram,Gunnar Luderer,Giovanni Baiocchi +11 more
TL;DR: In this article, the authors analyzed the synergies and risk trade-offs of alternative 2 °C pathways across indicators relevant for energy-related SDGs and sustainable energy objectives and found that limiting the availability of key mitigation technologies yields some co-benefits and decreases risks specific to these technologies but greatly increases many others.
References
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BookDOI
This Time Is Different: Eight Centuries of Financial Folly
Carmen Reinhart,Kenneth Rogoff +1 more
TL;DR: This Time Is Different as mentioned in this paper presents a comprehensive look at the varieties of financial crises, and guides us through eight astonishing centuries of government defaults, banking panics, and inflationary spikes.
BookDOI
A Note on Rising Food Prices
TL;DR: The authors examined the factors behind the rapid increase in internationally traded food prices since 2002 and estimated the contribution of various factors such as the increased production of biofuels from food grains and oilseeds, the weak dollar, and the increase in food production costs due to higher energy prices.
Posted Content
Index Investment and Financialization of Commodities
TL;DR: The authors found that futures prices of different commodities in the US became increasingly correlated with each other and this trend was significantly more pronounced for commodities in two popular GSCI and DJ-UBS commodity indices.
Journal ArticleDOI
Index Investment and the Financialization of Commodities
TL;DR: The authors found that prices of non-energy commodity futures in the United States have become increasingly correlated with oil prices; this trend has been significantly more pronounced for commodities in two popular commodity indices.