This book provides fresh insights into concepts, methods and new research findings on the causes of excessive food price volatility. It also discusses the implications for food security and policy responses to mitigate excessive volatility. The approaches applied by the contributors range from on-the-ground surveys, to panel econometrics and innovative high-frequency time series analysis as well as computational economics methods. It offers policy analysts and decision-makers guidance on dealing with extreme volatility.
Since 2006, global food prices have fluctuated greatly around an increasing trend and price spikes were observed for key food commodities such as rice, wheat, and maize.
The starting point of Paul Streeten's book is the dilemma, faced by policy makers in many developing countries: should the price of food be high, in order to stimulate production, or low, in order to prevent poor food buyers from starving? The author goes on to discuss the role of prices in the light of these and other objectives. 'It is the work of one of our wisest scholars on what I consider to be the key policy issue for economic development in the 1980s...this provocative essay will be required reading for anyone working on agricultural price policy.' C.Peter Timmer 'It provides solid and practical guidance to scholars and decision-makers. It is lucid, balanced and, above all, useful.' Robert Klitgaard 'Paul Streeten is well known for his gift of explaining the pros and cons of difficult policy issues in a clear, simple and realistic way, appealing to policy-makers, students and the wider development community, as well as to academic colleagues. This gift is fully displayed in his new book, and readers are bound to emerge with a better awareness of the conflicts and policy reforms which are involved.' H.W.Singer
The Economics of Sustainable Food details the true cost of food for people and the planet. It illustrates how to transform our broken system, alleviating its severe financial and human burden. The key is smart macroeconomic policy that moves us toward methods that protect the environment like regenerative land and sea farming, low-impact urban farming, and alternative protein farming, and toward healthy diets. The book's multidisciplinary team of authors lay out detailed fiscal and trade policies, as well as structural reforms, to achieve those goals. Chapters discuss strategies to make food production sustainable, nutritious, and fair, ranging from taxes and spending to education, labor market, health care, and pension reforms, alongside regulation in cases where market incentives are unlikely to work or to work fast enough. The authors carefully consider the different needs of more and less advanced economies, balancing economic development and sustainability goals. Case studies showcase successful strategies from around the world, such as taxing foods with a high carbon footprint, financing ecosystems mapping and conservation to meet scientific targets for healthy biomes permanency, subsidizing sustainable land and sea farming, reforming health systems to move away from sick care to preventive, nutrition-based care, and providing schools with matching funds to purchase local organic produce.--Amazon.
The large swings in world food prices in recent years renew interest in the question of how monetary policy in small open economies should react to such imported price shocks. We examine this issue in a canonical open economy setting with sticky prices and where food plays a distinctive role in utility. We show how world food price shocks affect natural output and other aggregates, and derive a second order approximation to welfare. Numerical calibrations show broad CPI targeting to be welfare-superior to alternative policy rules once the variance of food price shocks is sufficiently large as in real world data.
This book offers a broad introduction to food policies in the United States. Real-world controversies and debates motivate the book's attention to economic principles, policy analysis, nutrition science and contemporary data sources. It assumes that the reader's concern is not just the economic interests of farmers, but also includes nutrition, sustainable agriculture, the environment and food security. The book's goal is to make US food policy more comprehensible to those inside and outside the agri-food sector whose interests and aspirations have been ignored. The chapters cover US agriculture, food production and the environment, international agricultural trade, food and beverage manufacturing, food retail and restaurants, food safety, dietary guidance, food labeling, advertising and federal food assistance programs for the poor. The author is an agricultural economist with many years of experience in the non-profit advocacy sector, the US Department of Agriculture and as a professor at Tufts University. The author's well-known blog on US food policy provides a forum for discussion and debate of the issues set out in the book.
Food systems around the world face a triple challenge: providing food security and nutrition for a growing global population; supporting livelihoods for those working along the food supply chain; and contributing to environmental sustainability. Better policies hold tremendous promise for making progress in these domains.
Policy analysis is a dynamic process of discovery rather than a passive exercise of memorizing facts and conclusions. This text provides opportunities to "practice the craft" of policy analysis by engaging the reader in realistic case studies and problem-solving scenarios that require the selection and use of applicable investigative techniques. US Agricultural and Food Policies will assist undergraduate students to learn how policy choices impact the overall performance of agricultural and food markets. It encourages students to systematically investigate scenarios with appropriate positive and normative tools. The book emphasizes the importance of employing critical thinking skills to address the complexities associated with the design and implementation of twenty-first-century agricultural and food policies. Students are asked to suspend their personal opinions and emotions, and instead apply research methods that require the careful consideration of both facts and values. The opportunities to build these investigative skills are abundant when we consider the diversity of modern agricultural and food policy concerns. Featuring case studies and critical thinking exercises throughout and supported by a Companion Website with slides, a test bank, glossary, and web/video links, this is the ideal textbook for any agricultural policy class.
