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Tracing the Effects of Agricultural Commodity Prices and Food Costs

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  • Catherine J. Morrison Paul
  • James M. MacDonald

Abstract

We estimate a system of product and input-demand equations for food-processing industries to trace the links among farm commodity prices, food-processing costs, and food prices. Disembodied technical change, which likely reflects increasing consumer demand for convenience and product variety, has sharply reduced agricultural materials demand relative to most other food-processing inputs. This implies weakening impacts of farm price shocks on food prices. But improving quality and falling relative prices for agricultural inputs, in combination with increasing factor substitution, has counteracted these forces to encourage greater usage of agricultural inputs in food processing, and limit these trends. Copyright 2003, Oxford University Press.

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File URL: http://hdl.handle.net/10.1111/1467-8276.00461
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Bibliographic Info

Article provided by Agricultural and Applied Economics Association in its journal American Journal of Agricultural Economics.

Volume (Year): 85 (2003)
Issue (Month): 3 ()
Pages: 633-646

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Handle: RePEc:oup:ajagec:v:85:y:2003:i:3:p:633-646

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Cited by:
  1. Wendy Chapple & Richard Harris & Catherine Paul, 2006. "The cost implications of waste reduction: factor demand, competitiveness and policy implications," Journal of Productivity Analysis, Springer, vol. 26(3), pages 245-258, December.
  2. van Soest, Daan P. & List, John A. & Jeppesen, Tim, 2006. "Shadow prices, environmental stringency, and international competitiveness," European Economic Review, Elsevier, vol. 50(5), pages 1151-1167, July.
  3. Miller, J. Corey & Coble, Keith H., 2007. "Cheap food policy: Fact or rhetoric?," Food Policy, Elsevier, vol. 32(1), pages 98-111, February.
  4. Cohen, Jeffrey P. & Paul, Catherine J. Morrison, 2005. "Agglomeration economies and industry location decisions: the impacts of spatial and industrial spillovers," Regional Science and Urban Economics, Elsevier, vol. 35(3), pages 215-237, May.
  5. Jeffrey Bernstein & Theofanis Mamuneas, 2008. "Public infrastructure, input efficiency and productivity growth in the Canadian food processing industry," Journal of Productivity Analysis, Springer, vol. 29(1), pages 1-13, February.
  6. Zhang, Wei & Alston, Julian M., 2013. "Factor Substitution and Technical Change in the U.S. Dairy Manufacturing Industry," 2013 Annual Meeting, August 4-6, 2013, Washington, D.C. 150707, Agricultural and Applied Economics Association.
  7. Chapple, Wendy & Paul, Catherine J. Morrison & Harris, Richard, 2005. "Manufacturing and corporate environmental responsibility: cost implications of voluntary waste minimisation," Structural Change and Economic Dynamics, Elsevier, vol. 16(3), pages 347-373, September.

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