The Economics of Food Price Volatility

Influences of agricultural technology on the size and importance of food price variability / Julian M. Alston, William J. Martin, and Philip G. Pardey ; comment: James M. MacDonald -- Corn production shocks in 2012 and beyond : implications for harvest volatility / Steven T. Berry, Michael J. Roberts, and Wolfram Schlenker ; comment: Derek Headey -- Biofuels, binding constraints and agricultural commodity price volatility / Philip Abbott ; comment: Brian D. Wright -- The evolving relationships between agricultural and energy commodity prices : a shifting-mean vector autoregressive analysis / Walter Enders and Matthew T. Holt ; comment: Barry K. Goodwin -- Bubble troubles? : rational storage, mean reversion and runs in commodity prices / Eugenio S.A. Bobenrieth, Juan R.A. Bobenrieth, and Brian D. Wright ; comment: Jock R. Anderson -- Bubbles, food prices, and speculation : evidence from the CFTC's daily large trader data files / Nicole M. Aulerich, Scott H. Irwin and Philip Garcia ; comment: Aaron Smith -- Food price volatility and domestic stabilization policies in developing countries / Christophe Gouel ; comment: Shenggen Fan -- Food price spikes, price insulation, and poverty / Kym Anderson, Maros Ivanic, and William J. Martin ; comment: Marc F. Bellemare -- Trade insulation as social protection / Quy-Toan Do, Andrei A. Levchenko, and Martin Ravallion ; comment: Ron Trostle

Influences of agricultural technology on the size and importance of food price variability / Julian M. Alston, William J. Martin, and Philip G. Pardey ; comment: James M. MacDonald -- Corn production shocks in 2012 and beyond : implications for harvest volatility / Steven T. Berry, Michael J. Roberts, and Wolfram Schlenker ; comment: Derek Headey -- Biofuels, binding constraints and agricultural commodity price volatility / Philip Abbott ; comment: Brian D. Wright -- The evolving relationships between agricultural and energy commodity prices : a shifting-mean vector autoregressive analysis / Walter Enders and Matthew T. Holt ; comment: Barry K. Goodwin -- Bubble troubles? : rational storage, mean reversion and runs in commodity prices / Eugenio S.A. Bobenrieth, Juan R.A. Bobenrieth, and Brian D. Wright ; comment: Jock R. Anderson -- Bubbles, food prices, and speculation : evidence from the CFTC's daily large trader data files / Nicole M. Aulerich, Scott H. Irwin and Philip Garcia ; comment: Aaron Smith -- Food price volatility and domestic stabilization policies in developing countries / Christophe Gouel ; comment: Shenggen Fan -- Food price spikes, price insulation, and poverty / Kym Anderson, Maros Ivanic, and William J. Martin ; comment: Marc F. Bellemare -- Trade insulation as social protection / Quy-Toan Do, Andrei A. Levchenko, and Martin Ravallion ; comment: Ron Trostle.

There has been an increase in food price instability in recent years, with varied consequences for farmers, market participants, and consumers. Before policy makers can design schemes to reduce food price uncertainty or ameliorate its effects, they must first understand the factors that have contributed to recent price instability. Does it arise primarily from technological or weather-related supply shocks, or from changes in demand like those induced by the growing use of biofuel? Does financial speculation affect food price volatility?The researchers who contributed to The Economics of Food