Recent experience of highly turbulent markets has renewed interest in quantitative assessment of price volatility by stochastic simulations using the AGLINK-COSIMO model. Measuring the contribution of correlation of yield shocks to price volatility, this paper shows that correlation effects account for a significant portion of price volatility for coarse grains and wheat.
World Trade Organisation (WTO) disciplines in the policy area of export restrictions could benefit in a number of ways from the approaches found in some regional trade agreements, according to this study.
This paper focuses on the market openness aspects of regulatory reform in Indonesia to devise recommendations for improving the country’s regulatory processes. These recommendations involve institutionalising independent and objective evaluations of policies from an economy-wide perspective, as well as instituting a process by which broad public consultations are systematically required.
International trade produces income gains, but increased trade exposure also creates some challenges that require complementary policies to maximise the benefits of trade. This paper looks at how Australia has dealt with these issues in recent years.
Exchange rate volatility impacts trade flows in small, open economies more than for larger economies, according to this study of trade in the agricultural and the manufacturing and mining sectors of Chile and New Zealand.
The signing of the North American Free Trade Agreement (NAFTA) was a source of debate in United States politics, particularly regarding possible labour market effects. This paper gives an overview and assessment of the debate and US employment policy responses.
Ce rapport examine la question de savoir si la volatilité des prix des matières premières a sensiblement évolué avec la rapide montée des prix mondiaux en 2006-09, suivie par une baisse tout aussi marquée des prix de nombreuses matières premières.
Market thinness, where there are few buying or selling offers, can contribute to price volatility. Contrary to general assumptions, agricultural commodity markets have not become 'thinner', according to this study of trade in selected commodities from 1970 to 2010.
Innovation is critical to creating new sources of growth, and trade can strengthen innovation in the business sector. Technology diffusion, competition and exports are channels through which trade affects innovation. These channels along with the related policy issues are discussed in this report.
Low stocks to use ratios of recent years were one of the contributory factors to the grain price spike in 2007-08, says this paper on international stockholding arrangements with economic provisions for stabilising world agricultural commodity prices.