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Macroeconomics and Agriculture in Tunisia

  • Ben Kaabia, Monia
  • Gil, Jose Maria
  • Chebbi, Houssem Eddine

This paper aims to analyse the impact of changes in the monetary policy and the exchange rate on agricultural supply, prices and exports. The methodology used is based on the multivariate cointegration approach. Ten variables are considered: interest and exchange rates, money supply, inflation, agricultural output and input prices, agricultural supply and exports, income and the rate of commercial openness. Sample period covers annual data from 1967 to 2002. Due to the short-sample period, two subsystems are considered. First, long-run relationships are identified in each subsystem. Second, both subsystems are merged in order to calculate the short-run dynamics. Results indicate that changes in macroeconomic variables have an effect on the agricultural sector but the reverse effect does not hold.

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Paper provided by European Association of Agricultural Economists in its series 2005 International Congress, August 23-27, 2005, Copenhagen, Denmark with number 24597.

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Date of creation: 2005
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Handle: RePEc:ags:eaae05:24597
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  15. Subramanian S. Sriram, 1999. "Demand for M2 in an Emerging-Market Economy: An Error-Correction Model for Malaysia," IMF Working Papers 99/173, International Monetary Fund.
  16. Juselius, Katarina, 1995. "Do purchasing power parity and uncovered interest rate parity hold in the long run? An example of likelihood inference in a multivariate time-series model," Journal of Econometrics, Elsevier, vol. 69(1), pages 211-240, September.
  17. Thraen, Cameron S. & Hwang, Tsorng-Chyi & Larson, Donald W., 1992. "Linking of U.S. monetary policy and exchange rates to world soybean markets," Agricultural Economics, Blackwell, vol. 6(4), pages 365-384, April.
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