International Grain Reserves and Other Instruments to Address Volatility in Grain Markets
In the long view, recent volatility of prices of the major grains is not anomalous. Wheat, rice, and maize are highly substitutable in the global market for calories, and when aggregate stocks decline to minimal feasible levels, prices become highly sensitive to small shocks, consistent with the eco...
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| Format: | Journal Article |
| Language: | en_US |
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Published by Oxford University Press on behalf of the World Bank
2014
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| Online Access: | http://hdl.handle.net/10986/17115 |