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- W2101713042 abstract "In his comment on my review of the links between agricultural prices, macroeconomic policies, and agricultural (Mamingi, 1997), the Reviewer (1998) pointed out that key theoretical as well as political and practical issue, that is the variability of prices, and, consequently, price stabilisation policies are missing. I welcome his remark, although these omissions dealing with are also present in many related literature reviews. This state of affairs is, perhaps, due to the lack of consensus on the exact meaning of risk. Indeed, risk is like love (Stiglitz cited by Roumasset, 1979, p. 4) in the sense that have a good idea of what is, but we can't define it precisely (Roumasset, 1979, p. 4). My task in this note is to pinpoint a range of issues concerning some points raised by the Reviewer. The Reviewer underlined that empirically many authors have acknowledged the importance of risk considerations in shaping agricultural supply (see, for example, Freund, 1956). I believe that, besides price variability, the common measurement in agriculture, variability in yields (production instability) must also be considered as the two types of have an impact on income stability as well as price stabilisation (see also, Lele and Christiansen, 1989, p. 8)." @default.
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- W2101713042 date "1999-12-01" @default.
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- W2101713042 title "The impact of prices and macroeconomic policies on agricultural supply: a reply" @default.
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- W2101713042 doi "https://doi.org/10.1016/s0169-5150(99)00021-3" @default.
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