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Agriculture And The Macro‐Economy: Presidential Address

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  • G. H. Peters

Abstract

Agricultural economics is sometimes criticised for being microcentred. We should not apologise; colleagues who study industrial organisation or many aspects of public sector economics are neither more nor less guilty. The fact remains, however, that agriculture, like all sectors, operates within a macro‐economic framework and there is a growing spate of literature focusing on that broader perspective. It runs in two directions: the farming consequences of macro‐economic developments where much of the attention focuses on exchange rates and interest rates, and the effects of agricultural policies on the economy at large. The objective here is to review the situation. Topical issues considered range from the value of the dollar and the operation of the European exchange‐rate, mechanism, to controversies surrounding the recent GATT negotiations.

Suggested Citation

  • G. H. Peters, 1991. "Agriculture And The Macro‐Economy: Presidential Address," Journal of Agricultural Economics, Wiley Blackwell, vol. 42(3), pages 231-249, September.
    • Handle: RePEc:bla:jageco:v:42:y:1991:i:3:p:231-249
    DOI: 10.1111/j.1477-9552.1991.tb00354.x
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    References listed on IDEAS

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    1. Colman, David, 1985. "Imperfect Transmission of Policy Prices," European Review of Agricultural Economics, Oxford University Press and the European Agricultural and Applied Economics Publications Foundation, vol. 12(3), pages 171-186.
    2. World Bank, 1986. "World Development Report 1986," World Bank Publications - Books, The World Bank Group, number 5969.
    3. Meester, Gerrit, 1987. "Budgetary Constraints and International Realities in the CAP," European Review of Agricultural Economics, Oxford University Press and the European Agricultural and Applied Economics Publications Foundation, vol. 14(1), pages 37-47.
    4. G. Edward Schuh, 1974. "The Exchange Rate and U. S. Agriculture," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 56(1), pages 1-13.
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