A Stochastic Policy Simulation of the World Coffee Economy

R. Edwards and A. Parikh

American Journal of Agricultural Economics, 1976, vol. 58, issue 2, 152-160

Abstract: The paper analyzes the structure of the world coffee market and suggests policies that stabilize the export earnings of coffee-exporting countries. The major cyclical characteristics of the coffee economy may be explained by a simultaneous equation model, which considers the lagged response of supply to price. The most successful policies include the development of rapidly maturing trees and the imposition of a quota on exports, both of which are effective in modifying the long-run cycle. A buffer stock policy is shown to be effective in eliminating short-run fluctuations, given sufficient resources.

Date: 1976
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Persistent link: https://EconPapers.repec.org/RePEc:oup:ajagec:v:58:y:1976:i:2:p:152-160.

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