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Impacts of Inflation on Agricultural Prices: Panel Smooth Transition Regression Analysis

  • Bulent Guloglu

    ()

    (Pamukkale University)

  • Saban Nazlioglu

    ()

    (Pamukkale University)

The purpose of this study is to examine the impact of inflation on agricultural prices. The empirical model developed in that respect was estimated for a panel of twenty eight developed and eighty three developing countries over the period 1980-2007 using panel smooth transition regression technique. The findings indicate that the impact of inflation on the agricultural prices is positive in low inflation regime and is negative in high inflation regime. Therefore, we conclude that the impact of the inflation on the agriculture prices is positive in the developed countries in which low inflation rates are observed and is negative in the developing countries in which high inflation rates are observed.

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Article provided by Sakarya University, Faculty of Economics and Administrative Sciences in its journal Research Journal of Politics, Economics and Management.

Volume (Year): 1 (2013)
Issue (Month): 1 (January)
Pages: 1-20

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Handle: RePEc:say:journl:v:1:y:2013:i:1:p:1-20
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  1. Zanias, George P, 1998. "Inflation, Agricultural Prices and Economic Convergence in Greece," European Review of Agricultural Economics, Foundation for the European Review of Agricultural Economics, vol. 25(1), pages 19-29.
  2. Gilbert Colletaz & Christophe Hurlin, 2006. "Threshold Effects in the Public Capital Productivity: an International Panel Smooth Transition Approach," Post-Print halshs-00257487, HAL.
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  8. Tweeten, Luther G., 1980. "An Economic Investigation Into Inflation Passthrough To The Farm Sector," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 5(02), December.
  9. Andres Gonzalez & Timo Terasvirta & Dick van Dijk, 2005. "Panel Smooth Transition Regression Models," Research Paper Series 165, Quantitative Finance Research Centre, University of Technology, Sydney.
  10. Voyiatzis, A. & Pallis, D. & Katsouli, E., 2002. "Causality between food prices and other goods prices: Evidence from the EU member-states," Agricultural Economics Review, Greek Association of Agricultural Economists, vol. 3(2), August.
  11. Starleaf, Dennis R. & Meyers, William H. & Womack, Abner W., 1985. "The Impact of Inflation on the Real Income of U.S. Farmers," Staff General Research Papers 10858, Iowa State University, Department of Economics.
  12. Dennis R. Starleaf & William H. Meyers & Womack Abner W., 1985. "The Impact of Inflation on the Real Income of U.S. Farmers," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 67(2), pages 384-389.
  13. Tabakis, Nikolaos M., 2001. "A Multivariate Model for the Relationship Between Agricultural Prices and Inflation Uncertainty: Evidence Using Greek Data," Agricultural Economics Review, Greek Association of Agricultural Economists, vol. 2(1), January.
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  15. repec:kap:iaecre:v:9:y:2003:i:1:p:69-78 is not listed on IDEAS
  16. Kyrtsou, Catherine & Labys, Walter C., 2006. "Evidence for chaotic dependence between US inflation and commodity prices," Journal of Macroeconomics, Elsevier, vol. 28(1), pages 256-266, March.
  17. Grennes, Thomas & Lapp, John S., 1986. "Neutrality of inflation in the agricultural sector," Journal of International Money and Finance, Elsevier, vol. 5(2), pages 231-243, June.
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