The Influence of Macroeconomic Variables on the Hungarian Agriculture

Zoltán Bakucs () and Imre Fertő

No 19232, 2005 Annual meeting, July 24-27, Providence, RI from American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association)

Abstract: This paper focus on the time adjustment paths of the exchange rate and prices in response to unanticipated monetary shocks following model developed by Saghaian et al. (2002). We employ Johansen's cointegration test along with a vector error correction model to investigate whether agricultural prices overshoot in a transition economy. The empirical results indicate that agricultural prices adjust faster than industrial prices to innovations in the money supply, affecting relative prices in the short run, but strict long-run money neutrality does not hold.

Keywords: Demand; and; Price; Analysis (search for similar items in EconPapers)
Pages: 19
Date: 2005
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Persistent link: https://EconPapers.repec.org/RePEc:ags:aaea05:19232

DOI: 10.22004/ag.econ.19232

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