We address the issue of social distribution of an aggregate risk (on agricultural export price), from a macroeconomic perspective. Individual incomes in representative social groups are computed as a function of export prices, which are assumed to be stochastic, using an applied general equilibrium model of an archetype developing economy. The statistical properties of the resulting distribution of individual incomes are then examined. We consider a mapping of different policies on agricultural prices (stabilization or complete pass-through), monetary rules (accommodating or not) and exchange rate regimes (fixed versus flexible).
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Paper provided by C.E.P.R. Discussion Papers in its series CEPR Discussion Papers with number
1482.
Find related papers by JEL classification: D39 - Microeconomics - - Distribution - - - Other D58 - Microeconomics - - General Equilibrium and Disequilibrium - - - Computable and Other Applied General Equilibrium Models O11 - Economic Development, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
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