The impact of price insulation on world wheat markets during Covid-19 and the Ukraine crisis
This paper begins with a survey of recent commodity price developments that highlights the magnitude of this price surge and identifies the rapid rise in wheat prices as a key element. The analysis in this paper focuses on the extent to which domestic markets are insulated from these changes and on...
| Autores principales: | , |
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| Formato: | Artículo preliminar |
| Lenguaje: | Inglés |
| Publicado: |
International Food Policy Research Institute
2023
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| Materias: | |
| Acceso en línea: | https://hdl.handle.net/10568/140339 |
| _version_ | 1855515295736659968 |
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| author | Martin, Will Minot, Nicholas |
| author_browse | Martin, Will Minot, Nicholas |
| author_facet | Martin, Will Minot, Nicholas |
| author_sort | Martin, Will |
| collection | Repository of Agricultural Research Outputs (CGSpace) |
| description | This paper begins with a survey of recent commodity price developments that highlights the magnitude of this price surge and identifies the rapid rise in wheat prices as a key element. The analysis in this paper focuses on the extent to which domestic markets are insulated from these changes and on the resulting impacts on world prices. An econometric analysis using Error Correction Models finds stable long-term relationships between world wheat prices and most domestic prices of wheat and wheat products, but with considerable variation across countries in the rate of price transmission. A case study of the price shocks during the Covid pandemic and the Ukraine food price crisis finds that price insulation roughly doubled the overall increase in world wheat prices and raised their volatility both during periods of price increase and price decline. |
| format | Artículo preliminar |
| id | CGSpace140339 |
| institution | CGIAR Consortium |
| language | Inglés |
| publishDate | 2023 |
| publishDateRange | 2023 |
| publishDateSort | 2023 |
| publisher | International Food Policy Research Institute |
| publisherStr | International Food Policy Research Institute |
| record_format | dspace |
| spelling | CGSpace1403392025-12-02T21:03:13Z The impact of price insulation on world wheat markets during Covid-19 and the Ukraine crisis Martin, Will Minot, Nicholas models coronavirus covid-19 coronavirinae price stabilization cointegration coronavirus disease food prices wheat shocks russia-ukraine war This paper begins with a survey of recent commodity price developments that highlights the magnitude of this price surge and identifies the rapid rise in wheat prices as a key element. The analysis in this paper focuses on the extent to which domestic markets are insulated from these changes and on the resulting impacts on world prices. An econometric analysis using Error Correction Models finds stable long-term relationships between world wheat prices and most domestic prices of wheat and wheat products, but with considerable variation across countries in the rate of price transmission. A case study of the price shocks during the Covid pandemic and the Ukraine food price crisis finds that price insulation roughly doubled the overall increase in world wheat prices and raised their volatility both during periods of price increase and price decline. 2023-03-23 2024-03-14T12:09:21Z 2024-03-14T12:09:21Z Working Paper https://hdl.handle.net/10568/140339 en Open Access application/pdf International Food Policy Research Institute Martin, Will; and Minot, Nicholas. 2023. The impact of price insulation on world wheat markets during Covid-19 and the Ukraine crisis. IFPRI Discussion Paper 2175. Washington, DC: International Food Policy Research Institute (IFPRI). https://doi.org/10.2499/p15738coll2.136616. |
| spellingShingle | models coronavirus covid-19 coronavirinae price stabilization cointegration coronavirus disease food prices wheat shocks russia-ukraine war Martin, Will Minot, Nicholas The impact of price insulation on world wheat markets during Covid-19 and the Ukraine crisis |
| title | The impact of price insulation on world wheat markets during Covid-19 and the Ukraine crisis |
| title_full | The impact of price insulation on world wheat markets during Covid-19 and the Ukraine crisis |
| title_fullStr | The impact of price insulation on world wheat markets during Covid-19 and the Ukraine crisis |
| title_full_unstemmed | The impact of price insulation on world wheat markets during Covid-19 and the Ukraine crisis |
| title_short | The impact of price insulation on world wheat markets during Covid-19 and the Ukraine crisis |
| title_sort | impact of price insulation on world wheat markets during covid 19 and the ukraine crisis |
| topic | models coronavirus covid-19 coronavirinae price stabilization cointegration coronavirus disease food prices wheat shocks russia-ukraine war |
| url | https://hdl.handle.net/10568/140339 |
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