The effect of monetary policy on the farm sector remains controversial. Studies attempting to quantify the effects of monetary disturbances on real farm prices report conflicting results: some find that positive monetary shocks increase real farm prices in the short run, while others detect no such effect. We offer a resolution of these conflicting findings by re-estimating existing models on a common data set. When sample periods corresponding to the original studies are used, the conflicting results are confirmed. In contrast, when samples are updated through 1993, all models supply the same result: monetary shocks do not afffect real farm prices.
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Paper provided by EconWPA in its series Others with number
9602001.
Length: 28 pages Date of creation: 07 Feb 1996 Date of revision: Handle: RePEc:wpa:wuwpot:9602001
Note: Type of Document - Word Perfect 6.1; prepared on IBM PC; to print on HP Laserjet; pages: 28; figures: included. none Contact details of provider: Web page: http://129.3.20.41
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Find related papers by JEL classification: Q10 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - General E50 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - General C32 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Time-Series Models
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