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Macro-economic policy reactions to soaring food prices in Mediterranean countries, Russia, the CIS and the GCC

Author

Listed:
  • Peeters, Marga
  • Strahilov, Kiril

Abstract

The aim of this study is to analyse the price developments and to compare national macroeconomic policies in response to the consumer prices that started to soar in 2007 across the European Neighbourhood Policy countries, the other arcelona countries2, Russia, the Gulf Cooperation Council countries and the euro area. The analyses focus primarily on ag-flation, but we analyse also the capital inflows in view of income levels in the EU's neighbour countries. The analyses unambiguously show that food inflation was pushing up total inflation, even despite the provision of food subsidies by national authorities.

Suggested Citation

  • Peeters, Marga & Strahilov, Kiril, 2008. "Macro-economic policy reactions to soaring food prices in Mediterranean countries, Russia, the CIS and the GCC," MPRA Paper 23860, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:23860
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    File URL: https://mpra.ub.uni-muenchen.de/23860/1/MPRA_paper_23860.pdf
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    Citations

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    Cited by:

    1. Ronald Albers & Marga Peeters, 2011. "Food and Energy Prices, Government Subsidies and Fiscal Balances in South Mediterranean Countries," European Economy - Economic Papers 2008 - 2015 437, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.
    2. Lúcio Vinhas de Souza, 2009. "Russia's Recent Economic and Reform Performance and Remaining Reform Challenges," Journal of the New Economic Association, New Economic Association, issue 1-2, pages 207-222.
    3. Marga Peeters & Ronald Albers, 2013. "Food Prices, Government Subsidies and Fiscal Balances in South Mediterranean Countries," Development Policy Review, Overseas Development Institute, vol. 31(3), pages 273-290, May.
    4. repec:pra:mprapa:37705 is not listed on IDEAS
    5. García, Carlos J. & Mejía, Jesisbé, 2018. "Macroeconomic stabilization of primary commodities price cycles in developing economies," Journal of Policy Modeling, Elsevier, vol. 40(5), pages 1050-1066.

    More about this item

    Keywords

    food inflation; macroeconomic policies; subsidies; biofuel;
    All these keywords.

    JEL classification:

    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
    • E6 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook

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