IDEAS home Printed from https://ideas.repec.org/a/ags/ajaeau/22870.html
   My bibliography  Save this article

Assessing Some Effects Of Inflation On The Agricultural Sector

Author

Listed:
  • Freebairn, John W.

Abstract

The time pattern of effects of inflation on prices received, prices paid, asset returns, and real incomes of different members of the agricultural sector is described. In the long run it is argued that inflation will have very small, if any, effects on relative prices or real incomes. For the short run, which may be several years, it is likely that some prices will rise more slowly than others and cause income losses. Included in the group of losers are producers of export products.

Suggested Citation

  • Freebairn, John W., 1981. "Assessing Some Effects Of Inflation On The Agricultural Sector," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 25(2), pages 1-16, August.
    • Handle: RePEc:ags:ajaeau:22870
    DOI: 10.22004/ag.econ.22870
    as

    Download full text from publisher

    File URL: https://ageconsearch.umn.edu/record/22870/files/25020107.pdf
    Download Restriction: no
    File URL: https://libkey.io/10.22004/ag.econ.22870?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    Other versions of this item:

    References listed on IDEAS

    as
    1. Martin Feldstein, 1983. "Inflation, Income Taxes, and the Rate of Interest: A Theoretical Analysis," NBER Chapters, in: Inflation, Tax Rules, and Capital Formation, pages 28-43, National Bureau of Economic Research, Inc.
    2. Davis, D.C. & Mullen, John D. & Bryant, M.J., 1979. "Farmer Income and Expenditure Patterns in a Wheat-Sheep Region," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 47(01), pages 1-24, April.
    3. K. L. Robinson, 1979. "The Distributional Consequences of Recent Inflation," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 61(5), pages 903-908.
    4. Yerby, Wayne O'Neil, 1977. "A review of institutional agricultural credit in Ghana with special reference to loan repayment problems," ISU General Staff Papers 1977010108000018135, Iowa State University, Department of Economics.
    5. Ryan, James G. & Duncan, Ronald C., 1974. "Effects On Farm Incomes And Rural Labour Of A Relative Increase In Wages," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 18(3), pages 1-15, December.
    6. Griffith, Garry R., 1974. "Sydney Meat Marketing Margins - An Econometric Analysis," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 42(04), pages 1-17, December.
    7. Dornbusch, Rudiger, 1976. "Expectations and Exchange Rate Dynamics," Journal of Political Economy, University of Chicago Press, vol. 84(6), pages 1161-1176, December.
    8. Bruce Traill, 1979. "An empirical model of the U.K. land market and the impact of price policy on land values and rents," European Review of Agricultural Economics, Oxford University Press and the European Agricultural and Applied Economics Publications Foundation, vol. 6(2), pages 209-232.
    9. J. W. Nevile, 1980. "Economic Activity and Fiscal Policy in Australia:A Survey and Critique," The Economic Record, The Economic Society of Australia, vol. 56(155), pages 301-315, December.
    10. Penn, J.B., 1979. "Commodity Programs And Inflation," 1979 Annual Meeting, July 29-August 1, Pullman, Washington 278290, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    11. Frankel, Jeffrey A, 1979. "On the Mark: A Theory of Floating Exchange Rates Based on Real Interest Differentials," American Economic Review, American Economic Association, vol. 69(4), pages 610-622, September.
    12. repec:bla:ecorec:v:54:y:1978:i:145:p:1-16 is not listed on IDEAS
    13. J. M. Bates & A. J. Rayner & P. R. Custance, 1979. "Inflation and Farm Tractor Replacement in the U.S.: A Simulation Model," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 61(2), pages 331-334.
    14. Vernon W. Ruttan, 1979. "Inflation and Productivity," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 61(5), pages 896-902.
    15. Emanuel Melichar, 1979. "Capital Gains versus Current Income in the Farming Sector," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 61(5), pages 1085-1092.
    16. Brandow, G.E., 1971. "The Distribution Among Agricultural Producers, Commodities, and Resources of Gains and Losses from Inflation in the Nation's Economy," 1971 Annual Meeting, August 15-18, Carbondale, Illinois 284446, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    17. John C. Naughtin & John J. Quilkey, 1979. "Pricing Efficiency In The Retail Meat Market," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 23(1), pages 48-61, April.
    18. James G. Ryan & Ronald C. Duncan, 1974. "Effects On Farm Incomes And Rural Labour Of A Relative Increase In Wages," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 18(3), pages 193-207, December.
    19. Kenneth W. Clements & Phuong Nguyen, 1980. "Inflation and Relative Prices: The Australian Experience," RBA Research Discussion Papers rdp8007, Reserve Bank of Australia.
    20. Peter L. Swan, 1978. "The Mathews Report on Business Taxation," The Economic Record, The Economic Society of Australia, vol. 54(1), pages 1-16, April.
    21. J. B. Penn, 1979. "Commodity Programs and Inflation," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 61(5), pages 889-895.
    22. repec:bla:ecorec:v:56:y:1980:i:155:p:301-15 is not listed on IDEAS
    23. Robinson, K.L., 1979. "The Distributional Consequences of Recent Inflation," Staff Papers 183728, Cornell University, Department of Applied Economics and Management.
    24. Warren F. Lee & Norman Rask, 1976. "Inflation and Crop Profitability: How Much Can Farmers Pay for Land?," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 58(5), pages 984-990.
    25. G. E. Brandow, 1971. "The Distribution Among Agricultural Producers, Commodities, and Resources of Gains and Losses from Inflation in the Nation's Economy (abstract)," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 53(5), pages 913-913.
    26. Krugman, Paul R., 1978. "Purchasing power parity and exchange rates : Another look at the evidence," Journal of International Economics, Elsevier, vol. 8(3), pages 397-407, August.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Fisher, Brian S., 1985. "Frontiers in Agricultural Policy Research," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 53(02), pages 1-11, August.
    2. Geoff W. Edwards, 1987. "Agricultural Policy Debate: A Survey," The Economic Record, The Economic Society of Australia, vol. 63(2), pages 129-143, June.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Rudiger Dornbusch & Jeffrey Frankel, 1988. "The Flexible Exchange Rate System: Experience and Alternatives," International Economic Association Series, in: Silvio Borner (ed.), International Finance and Trade in a Polycentric World, chapter 7, pages 151-208, Palgrave Macmillan.
    2. Mariam Camarero & Cecilio Tamarit, 1996. "Cointegration and the PPP and the UIP hypotheses: An application to the Spanish integration in the EC," Open Economies Review, Springer, vol. 7(1), pages 61-76, January.
    3. repec:onb:oenbwp:y::i:28:b:1 is not listed on IDEAS
    4. Rausser, Gordon C., 1985. "Macroeconomic environment for U.S. agricultural policy," Department of Agricultural & Resource Economics, UC Berkeley, Working Paper Series qt2561m38d, Department of Agricultural & Resource Economics, UC Berkeley.
    5. Bruce Gardner, 1981. "On the Power of Macroeconomic Linkages to Explain Events in U.S. Agriculture," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 63(5), pages 871-878.
    6. Robert E. Cumby & Maurice Obstfeld, 1984. "International Interest Rate and Price Level Linkages under Flexible Exchange Rates: A Review of Recent Evidence," NBER Chapters, in: Exchange Rate Theory and Practice, pages 121-152, National Bureau of Economic Research, Inc.
    7. Dennis Nchor & Samuel Antwi Darkwah, 2015. "Inflation, Exchange Rates and Interest Rates in Ghana: an Autoregressive Distributed Lag Model," Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis, Mendel University Press, vol. 63(3), pages 969-977.
    8. Jeffrey A. Frankel, 1984. "Tests of Monetary and Portfolio Balance Models of Exchange Rate Determination," NBER Chapters, in: Exchange Rate Theory and Practice, pages 239-260, National Bureau of Economic Research, Inc.
    9. Dal Bianco, Marcos & Camacho, Maximo & Perez Quiros, Gabriel, 2012. "Short-run forecasting of the euro-dollar exchange rate with economic fundamentals," Journal of International Money and Finance, Elsevier, vol. 31(2), pages 377-396.
    10. Niko Hauzenberger & Florian Huber, 2020. "Model instability in predictive exchange rate regressions," Journal of Forecasting, John Wiley & Sons, Ltd., vol. 39(2), pages 168-186, March.
    11. Pagoulatos, Angelos & Timmons, John F., 1977. "Alternative Scenarios Of Energy Use In U.S. Crop Production," Southern Journal of Agricultural Economics, Southern Agricultural Economics Association, vol. 9(2), pages 1-8, December.
    12. Sandrey, Ronald A. & Arthur, Louise M. & Oliveira, Ronald A. & Wilson, W. Robert, 1982. "Determinants Of Oregon Farmland Values: A Pooled Cross-Sectional, Time Series Analysis," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 7(2), pages 1-10, December.
    13. van de Gucht, Linda M. & Dekimpe, Marnik G. & Kwok, Chuck C. Y., 1996. "Persistence in foreign exchange rates," Journal of International Money and Finance, Elsevier, vol. 15(2), pages 191-220, April.
    14. Schotman, Peter & van Dijk, Herman K., 1991. "A Bayesian analysis of the unit root in real exchange rates," Journal of Econometrics, Elsevier, vol. 49(1-2), pages 195-238.
    15. Levent KORAP, 2008. "Exchange Rate Determination Of Tl/Us$:A Co-Integration Approach," Istanbul University Econometrics and Statistics e-Journal, Department of Econometrics, Faculty of Economics, Istanbul University, vol. 7(1), pages 24-50, May.
    16. Stuart Landon & Constance E. Smith, 2003. "The Risk Premium, Exchange Rate Expectations, and the Forward Exchange Rate: Estimates for the Yen–Dollar Rate," Review of International Economics, Wiley Blackwell, vol. 11(1), pages 144-158, February.
    17. Luis Arango & Yanneth Betancourt, 2005. "A signal of imperfect portfolio capital adjustments from the domestic and foreign Colombian debt," Applied Financial Economics, Taylor & Francis Journals, vol. 15(9), pages 587-597.
    18. Husted, Steven & MacDonald, Ronald, 1998. "Monetary-based models of the exchange rate: a panel perspective," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 8(1), pages 1-19, January.
    19. Chinn, Menzie D, 1999. "On the Won and Other East Asian Currencies," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 4(2), pages 113-127, April.
    20. Taylor Mark P. & Sarno Lucio, 2001. "Real Exchange Rate Dynamics in Transition Economies: A Nonlinear Analysis," Studies in Nonlinear Dynamics & Econometrics, De Gruyter, vol. 5(3), pages 1-26, October.
    21. Meese, Richard & Rogoff, Kenneth, 1986. "Was it real? The exchange rate -- Interest differential relation: 1973-1984," Journal of Economic Dynamics and Control, Elsevier, vol. 10(1-2), pages 297-298, June.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ags:ajaeau:22870. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: AgEcon Search (email available below). General contact details of provider: https://edirc.repec.org/data/aaresea.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.