International Grain Reserves : And Other Instruments to Address Volatility in Grain Markets

In the long view, recent grain price volatility is not anomalous. Wheat, rice, and maize are highly substitutable in the global market for calories, and when aggregate stocks decline to minimal feasible levels, prices become highly sensitive to sma...

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Bibliographic Details
Main Author:	Wright, Brian
Format:	Policy Research Working Paper
Language:	English
Published:	2012
Subjects:	ACCOUNTING ACCUMULATION OF DEBT AGGREGATE SUPPLY AGRICULTURAL COMMODITIES AGRICULTURAL COMMODITY AGRICULTURE ARBITRAGE AVERAGE PRICE BEHAVIOR OF PRICES BID CALL OPTION CAPITALIST ECONOMIES CARTEL CASH INFLOW COMMODITIES COMMODITY COMMODITY PRICE COMMODITY PRICES COMPETITIVE MARKET CONSUMERS CONSUMPTION INCREASES CONSUMPTION LEVELS CORN PRICE COST INCREASES COST OF CAPITAL DEBT DEMAND CURVE DEMAND GROWTH DEPOSITS DEVELOPING COUNTRIES DEVELOPMENT ECONOMICS DOMESTIC MARKET DOMESTIC PRICE DOMESTIC PRICES DUMPING ECONOMIC ORDER ECONOMICS RESEARCH EMERGING ECONOMIES ENERGY PRICE ENERGY PRICES EXCHANGE RATE EXCHANGE RATE MOVEMENTS EXISTING GOVERNMENT EXPECTED RETURNS EXPECTED VALUE EXPENDITURE EXPENDITURES EXPORT MARKET EXPORTER EXPORTERS EXPORTS FINANCIAL FLOWS FINANCIAL MARKETS FINANCIAL SECTOR FIXED INTEREST FIXED INTEREST RATE FLOOR PRICE FLOOR PRICES FOOD PRICE FOOD PRICES FORECASTS FREE MARKET FUND INVESTMENT FUTURES FUTURES CONTRACTS FUTURES MARKET FUTURES MARKETS GLOBAL CAPITAL GLOBAL MARKET GLOBAL MARKETS GLOBALIZATION GOVERNMENT EXPENDITURE GOVERNMENT FUNDS GOVERNMENT REVENUE HEDGE FUNDS HEDGES HOLDING HOLDINGS HOUSING MARKET HUMAN CAPITAL INCENTIVE EFFECTS INCOME INCOME GROWTH INCOMES INFLATION INSURANCE INTEREST COSTS INTEREST RATE INTEREST RATE POLICIES INTEREST RATES INTERNATIONAL BANK INTERNATIONAL COOPERATION INTERNATIONAL DEBATES INTERNATIONAL ECONOMY INTERNATIONAL FINANCE INTERNATIONAL MARKET INTERNATIONAL MARKETS INTERNATIONAL RESERVES INTERNATIONAL TRADE INVESTMENT BEHAVIOR INVESTMENT VEHICLES LIQUIDITY MARGINAL COST MARGINAL VALUE MARKET ACCESS MARKET BEHAVIOR MARKET CONDITIONS MARKET DEMAND MARKET ENVIRONMENT MARKET FAILURE MARKET INSTABILITY MARKET PARTICIPANTS MARKET PRICE MARKET PRICES MARKET REGULATION MARKET STABILIZATION MARKET STOCKS MARKET VOLATILITY MARKETING MARKETING BOARDS MATURITIES MONOPOLIES MONOPOLY OIL PRICE OIL PRICES OPTIMIZATION OPTIONS MARKETS OUTPUT PETROLEUM PRICES POLICY RESPONSES PORTFOLIO PORTFOLIO ALLOCATION PRICE BAND PRICE BEHAVIOR PRICE CEILING PRICE CHANGES PRICE EFFECT PRICE FLOOR PRICE FLUCTUATIONS PRICE INCREASE PRICE INCREASES PRICE INDEX PRICE INDEXES PRICE MOVEMENTS PRICE RISK PRICE SERIES PRICE STABILIZATION PRICE SUPPORT PRICE TRENDS PRICE VOLATILITY PRIVATE MARKET PRODUCTION COSTS PRODUCTION EFFICIENCY PUBLIC BUDGETS PUBLIC SALES PUBLIC STOCK PUBLIC STOCKS RANDOM WALK RESERVE RETURNS RISKNEUTRAL SALE SALES SMOOTHING CONSUMPTION SPOT MARKET SPOT PRICES STOCK ADJUSTMENTS STOCK DATA STOCKS STORAGE CAPACITY SUBSTITUTE SUBSTITUTION SUPPLIER SUPPLIERS SUPPLY SHOCK SUPPLY SHOCKS SURPLUSES TAX TAX POLICIES TRADE BARRIERS TRADE POLICY TRADING TRADING VOLUME TRANSACTION TRANSACTION COSTS TRANSPARENCY VOLATILITY WEALTH WORLD MARKETS WORLD TRADE WORLD TRADE ORGANIZATION WTO
Online Access:	http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000158349_20090825154655 http://hdl.handle.net/10986/4220