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Books > Professional & Technical > Agriculture & farming > Agricultural science
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Monetary Policy and Food Inflation in Emerging and Developing Economies (Hardcover)
Loot Price: R1,482
Discovery Miles 14 820
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Monetary Policy and Food Inflation in Emerging and Developing Economies (Hardcover)
Series: Routledge Focus on Environment and Sustainability
Expected to ship within 12 - 17 working days
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This book focuses on the impact of monetary policy and food price
volatility and inflation in emerging and developing economies. The
tendency for food price volatility to blot inflation forecasting
accuracy, engender tail dynamics in the overall inflation
trajectory and derail economic welfare is well known in the
literature. The ability of monetary policy to exact stability in
food prices, theoretically, has also been well espoused. The
empirical evidence, however, is not only in short supply, but also
the studies available have dwelt on approaches that underplay the
volatile behaviour of food prices. This book focuses on inflation
targeting in emerging economies such as Chile, Mexico, Turkey,
Brazil, Hungary, Russia, Colombia, South Africa, Indonesia and
Ghana, as these are economies with considerable proportion of the
consumption basket occupied by food. The book provides the means to
understand at first hand the correct way to model food inflation,
account for the related policy responses to deviations either in
the short or medium to long term, and in market conditions that are
subject to excessive variability. Strong evidence is presented that
captures deviations of food prices from their trend and the
accompanying monetary policy effect in stabilizing such
variabilities across distinct frequencies. The novel approach in
this book addresses the burgeoning puzzles of asymmetry in monetary
policy effect on food prices at high, medium and low episodes of
food inflation. In doing so, this book presents a powerful tool for
researchers interested in understanding not just the transmission
mechanism, but also the magnitudes involved, and to policymakers
whose existing tools have failed them. Future studies will do well
to deepen the evidence and seek new grounds to which the phenomenon
manifests beyond and below emerging markets. This book will be of
great interest to students, scholars and policymakers involved in
agricultural economics, financial economics, food security and
sustainable development.
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