NBER

The Economics of Food Price Volatility

The Economics of Food Price Volatility, edited by Jean-Paul Chavas, David Hummels, and Brian D. Wright, is now available from the University of Chicago Press.

There has been an increase in food price instability in recent years, with varied consequences for farmers, market participants, and consumers. Before policymakers can design schemes to reduce food price uncertainty or ameliorate its effects, they must first understand the factors that have contributed to recent price instability. Does it arise primarily from technological or weather-related supply shocks, or from changes in demand like those induced by the growing use of biofuels? Does financial speculation affect food price volatility?

The researchers who contributed to The Economics of Food Price Volatility address these and other questions. They examine the forces driving both recent and historical patterns in food price volatility, as well as the effects of various public policies in affecting this volatility. Chapters include studies of the links between food and energy markets, the impact of biofuel policy on the level and variability of food prices, and the effects of weather-related disruptions in supply. The findings shed light on the way price volatility affects the welfare of farmers, traders, and consumers.

The price of the clothbound volume is $130, and the e-book is $104.

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Measuring Economic Sustainability and Progress

Measuring Economic Sustainability and Progress, edited by Dale W. Jorgenson, J. Steven Landefeld, and Paul Schreyer, is now available from the University of Chicago Press.

Since the Great Depression, researchers and statisticians have recognized the need for more extensive methods of measuring economic growth and sustainability. The recent recession renewed commitments to closing long-standing gaps in economic measurement, including those related to sustainability and well-being.

This volume in the Studies in Income and Wealth series explores collaborative solutions from academics, policy researchers, and official statisticians to some of today's most important economic measurement challenges. Contributors expand past research on the integration and extension of national accounts to establish a more comprehensive understanding of the distribution of economic growth and its impact on well-being, including health, human capital, and the environment. The research contributions assess, among other topics, specific conceptual and empirical proposals for extending national accounts.

The price of the clothbound volume is $130, and the e-book is $7 for 30 days and $104 for permanent ownership.

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Tax Policy and the Economy, Volume 28

Tax Policy and the Economy, Volume 28, edited by Jeffrey Brown, is now available from the University of Chicago Press. The papers in this volume illustrate the depth and breadth of the research by NBER research associates who study taxation and government spending programs. The first paper explores whether closely held firms are used as tax shelters. The second examines the taxation of multinational corporations. The third discusses the taxation of housing, focusing on the ways in which current income tax rules may affect location and consumption decisions and lead to economic inefficiencies. The fourth paper offers a historical perspective on the political economy of gasoline taxes, with a particular focus on the response to the oil shocks of the early 1970s. The fifth and final paper uses the tools of financial economics to estimate the unfunded liabilities of the Pension Benefit Guaranty Corporation.

The clothbound volume is $60 and the e-book is $48.

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