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Monetary Shocks and Real Farm Prices: A Re-Examination

Alan G Isaac () and David E. Rapach
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David E. Rapach: American University

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Abstract: The effect of monetary policy on the farm sector remains controversial. Studies attempting to quantify the effects of monetary disturbances on real farm prices report conflicting results: some find that positive monetary shocks increase real farm prices in the short run, while others detect no such effect. We offer a resolution of these conflicting findings by re-estimating existing models on a common data set. When sample periods corresponding to the original studies are used, the conflicting results are confirmed. In contrast, when samples are updated through 1993, all models supply the same result: monetary shocks do not afffect real farm prices.

Keywords: monetary; shocks; farm; prices (search for similar items in EconPapers)
JEL-codes: C32 E50 Q10 (search for similar items in EconPapers)
Pages: 28 pages
Date: 1996-02-07
Note: Type of Document - Word Perfect 6.1; prepared on IBM PC; to print on HP Laserjet; pages: 28; figures: included. none
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Handle: RePEc:wpa:wuwpot:9602001