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Agriculture in the macroeconomy: Theory and measurement

In: Handbook of Agricultural Economics

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  • Abbott, Philip
  • McCalla, Alex

Abstract

Macroeconomic events and policies strongly influence agricultural sector outcomes. Chapters synthesized here delineate both feed-forward and feedback linkages between agriculture and the macroeconomy, examining how relationships change as countries develop and undergo structural transformation. Historically, most aggregate work by agricultural economists follows a neo-classical paradigm, and the micro-foundations approach to macroeconomics. More microeconomic approaches and some recent aggregate efforts address institutional issues and market imperfections that lie behind alternative approaches to macroeconomics. Controversies on macroeconomic theory and data limitations have constrained the extent to which macroeconomic issues have been incorporated into agricultural economics research.

Suggested Citation

  • Abbott, Philip & McCalla, Alex, 2002. "Agriculture in the macroeconomy: Theory and measurement," Handbook of Agricultural Economics,in: B. L. Gardner & G. C. Rausser (ed.), Handbook of Agricultural Economics, edition 1, volume 2, chapter 32, pages 1659-1686 Elsevier.
  • Handle: RePEc:eee:hagchp:3-32
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    Cited by:

    1. Roberto ESPOSTI, 2007. "On the Decline of Agriculture. Evidence from Italian Regions in the Post-WWII Period," Working Papers 300, Universita' Politecnica delle Marche (I), Dipartimento di Scienze Economiche e Sociali.

    More about this item

    JEL classification:

    • Q00 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General - - - General

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