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Dynamics Of Food Price Inflation

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  • Lamm, R. McFall Jr.

Abstract

A supply-shift concept of food price inflation is offered as an explanation of why food prices have increased in recent years. This view is consistent with cost-push theories of inflation. The effects of higher farm product prices on food prices are analyzed using Pascal distributed lag models of the price adjustment process. Estimates are presented for 23 selected food products. The results indicate that higher farm prices are passed through to the retail level most quickly for food products which are not highly processed.

Suggested Citation

  • Lamm, R. McFall Jr., 1979. "Dynamics Of Food Price Inflation," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 4(2), pages 1-14, December.
    • Handle: RePEc:ags:wjagec:32292
    DOI: 10.22004/ag.econ.32292
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    References listed on IDEAS

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    1. Willard F. Mueller, 1978. "The Control of Agricultural Processing and Distribution," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 60(5), pages 848-855.
    2. Mueller, Willard F., 1978. "The Control Of Agricultural Processing And Distribution," 1978 Annual Meeting, August 6-9, Blacksburg, Virginia 284218, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
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    7. C. R. Handy & D. I. Padberg, 1971. "A Model of Competitive Behavior in Food Industries," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 53(2), pages 182-190.
    8. Moriak, Theo F. & Logan, Samuel H., 1971. "Monthly Retail Demand for Bread," Journal of Agricultural Economics Research, United States Department of Agriculture, Economic Research Service, vol. 23(3), pages 1-5, July.
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    Cited by:

    1. Gempesaw, Conrado M., II & Dunn, Jerry W., 1987. "The Impact Of Higher Prices Of Nonfarm-Inputs To Food Processing And Distribution On Food Prices And Quantities," Journal of Food Distribution Research, Food Distribution Research Society, vol. 18(2), pages 1-13, September.
    2. Belongia, Mike, 1981. "A Note on the Specification of Wage Rates in Cost-Push Models of Food Price Determination," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 13(2), pages 119-124, December.
    3. Westcott, Paul C. & Lamm, R. McFall, 1982. "The Current Food Situation and The Outlook for 1982," Food Review/ National Food Review, United States Department of Agriculture, Economic Research Service, vol. 0(1), March.
    4. Belongia, Mike & Fisher, Douglas, 1982. "Some Fallacies in Agricultural Economics: A Macroeconomic Interpretation," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 14(1), pages 117-123, July.

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    Demand and Price Analysis;

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