The Role of Inventory Adjustments in Quantifying Factors Causing Food Price Inflation

The food commodity price increases beginning in 2001 and culminating in the food crisis of 2007/08 reflected a combination of several factors, including economic growth, biofuel expansion, exchange rate fluctuations, and energy price inflation. To...

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Bibliographic Details
Main Authors:	Hochman, Gal, Rajagopal, Deepak, Timilsina, Govinda, Zilberman, David
Format:	Policy Research Working Paper
Language:	English
Published:	2012
Subjects:	ABSOLUTE VALUE AGGREGATE DEMAND AGGREGATE DEMAND CURVE AGGREGATE SUPPLY AGRICULTURAL OUTPUT AGRICULTURAL POLICY AGRICULTURAL PRICES AGRICULTURAL PRODUCTION AGRICULTURE ANALYSIS OF VARIANCE ANNUAL EXCHANGE RATE BALANCE OF PAYMENTS BASE YEAR BUFFER CAPITAL FLOWS CEREALS COMMODITY MARKETS COMMODITY PRICE COMMODITY PRICES COMPETITIVE EQUILIBRIUM CONSUMER PRICE CONSUMER PRICE INDEX CONSUMER SURPLUS CONSUMERS CONSUMPTION DEMAND CONSUMPTION EXPENDITURES CONSUMPTION INCREASES CORN CORN PRICE CORN PRICES CORRELATION COEFFICIENT CURRENCY DAIRY DEMAND CURVE DEMAND FOR FOOD DEMAND FUNCTION DEMAND FUNCTIONS DEMAND GROWTH DEPRECIATION DESCRIPTIVE STATISTICS DEVELOPMENT POLICY DISPOSABLE INCOME DOMESTIC CONSUMPTION DOMESTIC DEMAND DOMESTIC PRICE DOMESTIC PRICES DUMMY VARIABLES ECONOMIC EQUILIBRIUM ECONOMIC GROWTH ELASTICITY EMERGING MARKETS ENERGY DEMAND ENERGY PRICE ENERGY PRICES EQUILIBRIUM ANALYSIS EQUILIBRIUM CONDITION EQUILIBRIUM LEVEL EXCESS DEMAND EXCESS SUPPLY EXCHANGE RATE EXCHANGE RATE FLUCTUATIONS EXCHANGE RATE SHOCK EXCHANGE RATE SHOCKS EXCHANGE RATES EXPENDITURE EXPENDITURES EXPORTS EXTREME POVERTY FACTOR PRICES FEDERAL RESERVE FOOD CONSUMPTION FOOD CROPS FOOD DEMAND FOOD EXPORT FOOD EXPORTS FOOD MARKETS FOOD POLICY FOOD POLICY RESEARCH FOOD PRICE FOOD PRICE INFLATION FOOD PRICES FOOD PRODUCTION FOOD SECURITY FOOD SUBSIDIES FOODS FREE TRADE GDP GDP PER CAPITA GENERAL EQUILIBRIUM GENERAL EQUILIBRIUM MODEL GENERAL EQUILIBRIUM MODELS GLOBAL DEMAND GLOBAL FOOD SUPPLY GLOBALIZATION GNP GRAINS GROSS DOMESTIC PRODUCT GROSS DOMESTIC PRODUCT PER CAPITA GROWTH RATE GROWTH RATES HIGH-INCOME COUNTRIES IFPRI IMPACT OF SHOCKS IMPORT IMPORT BARRIERS IMPORT TARIFFS IMPORTS INCOME INCOME EFFECT INCOME EFFECTS INCOME ELASTICITIES INCOME ELASTICITY INCOME ELASTICITY OF DEMAND INCOME GROWTH INPUT PRICES INSTRUMENTAL VARIABLE INTERNATIONAL FOOD POLICY RESEARCH INSTITUTE INTERNATIONAL PRICE INVENTORIES INVENTORY LOCAL CURRENCY LONG-TERM EQUILIBRIUM LOW-INCOME COUNTRIES M1 MACROECONOMIC INDICATORS MAIZE MAJOR CURRENCIES MAJOR WORLD CURRENCIES MARKET ANALYSIS MARKET EQUILIBRIUM MARKET POWER MARKETING MEAT MEATS MILK POWDER OIL PRICES OIL SUPPLIES OPPORTUNITY COSTS PATENTS PER CAPITA INCOME PER CAPITA INCOMES PETROLEUM PRICES POPULATION GROWTH PORK PRICE CHANGE PRICE CHANGES PRICE CONTROLS PRICE DYNAMICS PRICE EFFECT PRICE ELASTICITIES PRICE ELASTICITY PRICE ELASTICITY OF DEMAND PRICE ELASTICITY OF SUPPLY PRICE FLUCTUATION PRICE FLUCTUATIONS PRICE INCREASE PRICE INCREASES PRICE INDICES PRICE INFLATION PRICE LEVEL PRICE STABILITY PRICE TRENDS PRICE VOLATILITY PRIMARY COMMODITIES PRIMARY COMMODITY PROCESSED FOODS PRODUCTION COSTS PRODUCTION FUNCTION PRODUCTIVITY PRODUCTIVITY GROWTH PROTEIN RANDOM WALK RAPID GROWTH RATE OF GROWTH REFINERIES REGULATORY FRAMEWORK RESTAURANTS RETAIL SLOWDOWN SOYBEAN SOYBEANS STANDARD DEVIATION STAPLE FOODS STOCKS STRONG DEMAND SUBSTITUTE SUBSTITUTES SUGAR SUGARCANE SUPERMARKETS SUPPLIERS SUPPLY CHAIN SUPPLY CURVES SUPPLY FUNCTION SUPPLY SHOCKS SUPPLY SIDE SUPPLY-SIDE SURPLUS TARIFF REDUCTIONS TOTAL EXPORTS TOTAL IMPORTS TRADE POLICIES TRADE POLICY TRADE RESTRICTIONS UPWARD PRESSURE URUGUAY ROUND VEGETABLE OILS WHEAT WORLD DEMAND WORLD PRICE WORLD PRICES
Online Access:	http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000158349_20110801103735 http://hdl.handle.net/10986/3506