How should monetary policy respond to large fluctuations in world food prices? We study this question in an open economy model in which imported food has a larg

The large swings in world food prices in recent years renew interest in the question of how monetary policy in small open economies should react to such importe

How should monetary policy respond to large fluctuations in world food prices? We study this question in an open economy model in which imported food has a larg

This book extends the discussion of world food problems by giving explicit recognition to the potential role of markets. The authors highlight the contribution

We introduce subsistence requirements in food consumption into a simple new-Keynesian model with flexible food and sticky non-food prices. We study how the endo