Hostname: page-component-cd9895bd7-dzt6s Total loading time: 0 Render date: 2024-12-28T19:28:21.840Z Has data issue: false hasContentIssue false
  • English
  • Français

Discussion: Revisiting Macroeconomic Linkages to Agriculture: The Impact of Macroeconomic Variables and the Oil Sector on Farm Prices and Income

Published online by Cambridge University Press:  26 January 2015

John B. Penson Jr.
John B. Penson Jr.*
Affiliation:
Department of Agricultural Economics, Texas A&M University, College Station, Texas
Get access Rights & Permissions [Opens in a new window]

Abstract

Periodically, events occur in the domestic and global economies that remind agricultural economists that macroeconomics matter. This was evident in the early 1980s when the Federal Reserve responded to double-digit inflation by driving interest rates to post-World War II period highs. The Asian financial crisis in the late 1990s, rising oil prices this past decade, and current stress in domestic and overseas financial markets serve to remind us again that externalities can have an effect on the economic performance and financial strength of U.S. agriculture. These effects are transmitted through interest rates, inflation, unemployment, real gross domestic product, and exchange rates.

Keywords

macroeconomicslinkagesnet farm incomeexchange ratesinterest ratesreal GDPE31E44Q41Q43
Type
Invited Paper Sessions
Information
Journal of Agricultural and Applied Economics , Volume 42 , Issue 3 , August 2010 , pp. 487 - 490
Copyright
Copyright © Southern Agricultural Economics Association 2010

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)

References

Asso, RR, Kahn, G.A., and Leeson, R. “The Taylor Rule and the Transformation of Monetary Policy.” RWP 07-11. Federal Reserve Bank of Kansas City. December 2007.Google Scholar
Baek, J., and Koo, W.W. “The U.S. Agricultural Sector and the Macroeconomy.” Presented at the annual meeting of the Southern Agricultural Economics Association, Orlando, FL, February 2010.Google Scholar
Fernandex-Cornejo, J. “Off-Farm Income, Technology Adoption and Farm Economic Performance.” Economic Research Report Number 36, Economic Research Service, US Department of Agriculture, January 2007.Google Scholar
Harris, J.M., Dubman, R. and Williams, R., “Debt Landscape for U.S. Farms Has Shifted.” Amber Waves, Economic Research Service, US Department of Agriculture, December 2009.Google Scholar
Orden, D. “Recent Macroeconomic Dynamics and Agriculture in Historical Perspective.” Presented at the annual meeting of the Southern Agricultural Economics Association, Orlando, FL, February 2010.Google Scholar
Saghaian, S. “The Impact of the Oil Sector on Commodity Prices: Correlation or Causation?” Presented at the annual meeting of the Southern Agricultural Economics Association, Orlando FL, February 2010.Google Scholar
Shane, M., Liefert, W., Morehart, M., Peters, M., Dillard, J., Torgerson, D. and Edmondson, W. “The 2008/2009 World Economic Crisis; What It Means for U.S. Agriculture.” WRS-09-02. Economics Research Service. U.S. Department of Agriculture, March 2009.Google Scholar