IDEAS home Printed from https://ideas.repec.org/p/ags/eaa123/122539.html
   My bibliography  Save this paper

AGRICULTURAL PRICE VOLATILITY UNDER CLIMATE CHANGE: The Impact of Multiple Objectives on Commodity Prices

Author

Listed:
  • Fuss, Sabine
  • Havlik, Petr
  • Szolgayova, Jana
  • Obersteiner, Michael
  • Schmid, Erwin

Abstract

Agricultural price volatility has moved to the forefront of research efforts and political discussion, where much work is already being undertaken with respect to the impact of fluctuations in input prices (e.g. fertilizer, feed and energy). In this paper we also want to take into account the impact of climate change on prices via increased volatility in crop yields. In addition, we analyze the impact of having multiple objectives competing for the land on which crops are grown. In particular, we want to address the concerns that have been voiced about biofuel targets and calls for prioritization of food security.

Suggested Citation

  • Fuss, Sabine & Havlik, Petr & Szolgayova, Jana & Obersteiner, Michael & Schmid, Erwin, 2012. "AGRICULTURAL PRICE VOLATILITY UNDER CLIMATE CHANGE: The Impact of Multiple Objectives on Commodity Prices," 123rd Seminar, February 23-24, 2012, Dublin, Ireland 122539, European Association of Agricultural Economists.
  • Handle: RePEc:ags:eaa123:122539
    DOI: 10.22004/ag.econ.122539
    as

    Download full text from publisher

    File URL: https://ageconsearch.umn.edu/record/122539/files/Fuss.pdf
    Download Restriction: no

    File URL: https://libkey.io/10.22004/ag.econ.122539?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
    ---><---

    References listed on IDEAS

    as
    1. Moschini, Giancarlo & Hennessy, David A., 2001. "Uncertainty, risk aversion, and risk management for agricultural producers," Handbook of Agricultural Economics, in: B. L. Gardner & G. C. Rausser (ed.), Handbook of Agricultural Economics, edition 1, volume 1, chapter 2, pages 88-153, Elsevier.
    2. You, Liangzhi & Wood, Stanley, 2006. "An entropy approach to spatial disaggregation of agricultural production," Agricultural Systems, Elsevier, vol. 90(1-3), pages 329-347, October.
    3. Havlík, Petr & Schneider, Uwe A. & Schmid, Erwin & Böttcher, Hannes & Fritz, Steffen & Skalský, Rastislav & Aoki, Kentaro & Cara, Stéphane De & Kindermann, Georg & Kraxner, Florian & Leduc, Sylvain & , 2011. "Global land-use implications of first and second generation biofuel targets," Energy Policy, Elsevier, vol. 39(10), pages 5690-5702, October.
    Full references (including those not matched with items on IDEAS)

    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. Valin, Hugo & Havlik, Petr & Mosnier, Aline & Obersteiner, Michael, 2010. "Climate Change Mitigation And Future Food Consumption Patterns," 115th Joint EAAE/AAEA Seminar, September 15-17, 2010, Freising-Weihenstephan, Germany 116392, European Association of Agricultural Economists.
    2. Mosnier, A. & Havlík, P. & Valin, H. & Baker, J. & Murray, B. & Feng, S. & Obersteiner, M. & McCarl, B.A. & Rose, S.K. & Schneider, U.A., 2013. "Alternative U.S. biofuel mandates and global GHG emissions: The role of land use change, crop management and yield growth," Energy Policy, Elsevier, vol. 57(C), pages 602-614.
    3. A. Mosnier & P. Havlík & M. Obersteiner & K. Aoki & E. Schmid & S. Fritz & I. McCallum & S. Leduc, 2014. "Modeling Impact of Development Trajectories and a Global Agreement on Reducing Emissions from Deforestation on Congo Basin Forests by 2030," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 57(4), pages 505-525, April.
    4. Schmitz, Christoph & van Meijl, Hans & Kyle, Page & Fujimori, Shinichiro & Gurgel, Angelo & Havlik, Petr & d'Croz, Daniel Mason & Popp, Alexander & Sands, Ron & Tabeau, Andrzej & van der Mensbrugghe, , 2013. "An agro-economic model comparison of cropland change until 2050," Conference papers 332351, Purdue University, Center for Global Trade Analysis, Global Trade Analysis Project.
    5. Joel Hourticq & Carole Megevand & Eric Tollens & Johanna Wehkamp & Hari Dulal, 2013. "Deforestation Trends in the Congo Basin : Agriculture [Dynamiques de déforestation dans le bassin du Congo : Réconcilier la croissance économique et la protection de la forêt - Document de travail ," World Bank Publications - Reports 16645, The World Bank Group.
    6. Christoph Schmitz & Hans van Meijl & Page Kyle & Gerald C. Nelson & Shinichiro Fujimori & Angelo Gurgel & Petr Havlik & Edwina Heyhoe & Daniel Mason d'Croz & Alexander Popp & Ron Sands & Andrzej Tabea, 2014. "Land-use change trajectories up to 2050: insights from a global agro-economic model comparison," Agricultural Economics, International Association of Agricultural Economists, vol. 45(1), pages 69-84, January.
    7. Fuss, Sabine & Havlik, Petr & Szolgayova, Jana & Schmid, Erwin & Obersteiner, Michael, 2011. "Large-Scale Modelling of Global Food Security and Adaptation under Crop Yield Uncertainty," 2011 International Congress, August 30-September 2, 2011, Zurich, Switzerland 114347, European Association of Agricultural Economists.
    8. Brausmann, Alexandra & Bretschger, Lucas, 2018. "Economic development on a finite planet with stochastic soil degradation," European Economic Review, Elsevier, vol. 108(C), pages 1-19.
    9. Gruere, Guillaume P. & Mevel, Simon & Bouet, Antoine, 2007. "Genetically Modified Rice, International Trade, and First-Mover Advantage: The Case of India and China," 2007: China's Agricultural Trade: Issues and Prospects Symposium, July 2007, Beijing, China 55032, International Agricultural Trade Research Consortium.
    10. Ulimwengu, John & Funes, Jose & Headey, Derek & You, Liangzhi, 2009. "Paving the way for development?: The impact of transport infrastructure on agricultural production and poverty reduction in the Democratic Republic of Congo," IFPRI discussion papers 944, International Food Policy Research Institute (IFPRI).
    11. Boncinelli, Fabio & Bartolini, Fabio & Casini, Leonardo, 2018. "Structural factors of labour allocation for farm diversification activities," Land Use Policy, Elsevier, vol. 71(C), pages 204-212.
    12. Johnston, Peter & Thomas, Timothy S. & Hachigonta, Sepo & Sibanda, Lindiwe M., 2013. "South Africa," IFPRI book chapters, in: Hachigonta, Sepo & Nelson, Gerald C. & Thomas, Timothy S. & Sibanda, Lindiwe Majele (ed.), Southern African agriculture and climate change: A comprehensive analysis, chapter 7, pages 175-212, International Food Policy Research Institute (IFPRI).
    13. Johnson, Michael E. & Takeshima, Hiroyuki & Gyimah-Brempong, Kwabena, 2013. "Assessing the potential and policy alternatives for achieving rice competitiveness and growth in Nigeria:," IFPRI discussion papers 1301, International Food Policy Research Institute (IFPRI).
    14. Gatti, Nicolas & Cecil, Michael & Baylis, Kathy & Estes, Lyndon & Blekking, Jordan & Heckelei, Thomas & Vergopolan, Noemi & Evans, Tom, 2023. "Is closing the agricultural yield gap a “risky” endeavor?," Agricultural Systems, Elsevier, vol. 208(C).
    15. Shahbaz, Muhammad & Rasool, Ghulam & Ahmed, Khalid & Mahalik, Mantu Kumar, 2016. "Considering the effect of biomass energy consumption on economic growth: Fresh evidence from BRICS region," Renewable and Sustainable Energy Reviews, Elsevier, vol. 60(C), pages 1442-1450.
    16. Weng, Yuwei & Chang, Shiyan & Cai, Wenjia & Wang, Can, 2019. "Exploring the impacts of biofuel expansion on land use change and food security based on a land explicit CGE model: A case study of China," Applied Energy, Elsevier, vol. 236(C), pages 514-525.
    17. KS Rajmohan & C Ramya & Sunita Varjani, 2021. "Trends and advances in bioenergy production and sustainable solid waste management," Energy & Environment, , vol. 32(6), pages 1059-1085, September.
    18. Haile, Mekbib G. & Kalkuhl, Matthias & Braun, Joachim von, 2013. "Inter-and intra-annual global crop acreage response to prices and price risk," 2013 Annual Meeting, August 4-6, 2013, Washington, D.C. 149695, Agricultural and Applied Economics Association.
    19. Pål Börjesson & Serina Ahlgren & Göran Berndes, 2012. "The climate benefit of Swedish ethanol: present and prospective performance," Wiley Interdisciplinary Reviews: Energy and Environment, Wiley Blackwell, vol. 1(1), pages 81-97, July.
    20. Nancy McCarthy & Gero Carletto & Benjamin Davis & Irini Maltsoglou, 2006. "Assessing the Impact of Massive Out-Migration on Agriculture," Working Papers 06-14, Agricultural and Development Economics Division of the Food and Agriculture Organization of the United Nations (FAO - ESA).

    More about this item

    Keywords

    Risk and Uncertainty;

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    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:eaa123:122539. 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/eaaeeea.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.