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Famine: A Simple General Equilibrium Model

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  • McGregor, Pat

Abstract

Agents in this model begin each period with an endowment of food, the sole commodity. Their utility is a function of current consumption, which has to exceed a specified minimum to ensure survival, and their endowment in the following period. There are three markets: those for labor, land, and food; there is no capital market. A famine can be triggered by a loss of endowment that causes the food wage to fall below the survival minimum. The model is employed to compare the effects of public works and food distribution as relief policies and shows the latter to be superior. Copyright 1998 by Royal Economic Society.

Suggested Citation

  • McGregor, Pat, 1998. "Famine: A Simple General Equilibrium Model," Oxford Economic Papers, Oxford University Press, vol. 50(4), pages 623-643, October.
    • Handle: RePEc:oup:oxecpp:v:50:y:1998:i:4:p:623-43
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    Cited by:

    1. Ayhan KAPUSUZOGLU & Xi LIANG & Nildag Basak CEYLAN, 2018. "Macroeconomic impacts of global food price shocks on the economy of Turkey," Agricultural Economics, Czech Academy of Agricultural Sciences, vol. 64(11), pages 517-525.
    2. Pierre-Emmanuel Darpeix, 2019. "Literature review on the consequences of food price spikes and price volatility," Working Papers hal-02072329, HAL.
    3. Noland, Marcus & Robinson, Sherman & Wang, Tao, 2001. "Famine in North Korea: Causes and Cures," Economic Development and Cultural Change, University of Chicago Press, vol. 49(4), pages 741-767, July.
    4. Myers, Robert J., 2006. "On the costs of food price fluctuations in low-income countries," Food Policy, Elsevier, vol. 31(4), pages 288-301, August.
    5. Pat McGregor, 2004. "“Insufficient for the Support of a Family” - Wages on the Public Works During the Great Irish Famine," The Economic and Social Review, Economic and Social Studies, vol. 35(2), pages 219-239.
    6. Pierre-Emmanuel Darpeix, 2019. "Literature review on the consequences of food price spikes and price volatility," PSE Working Papers hal-02072329, HAL.

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