Agricultural Outcomes and Monetary Policy Actions: Strange Bedfellows or Kissin' Cousins? (ICPSR 1222)
Principal Investigator(s): Kliesen, Kevin L., Federal Reserve Bank of St. Louis; Poole, William, Federal Reserve Bank of St. Louis
United States agriculture is a success story of high productivity growth maintained over a long period of time. Nevertheless, the industry today suffers from the same problems it has always suffered from: droughts, locusts, and market disruptions. In this article, the authors explain how monetary policy can contribute to a healthy agriculture sector. The reality is that the fundamental economic forces controlling the destiny of agriculture -- high productivity growth, the hazards of nature, the low price and income elasticities of demand, and the instability of conditions in important export markets -- are things that the Federal Reserve Board can do nothing about. The main message is that the best the Fed can do to stabilize the agricultural sector is to maintain low and steady inflation.
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Kliesen, Kevin L., and William Poole. Agricultural Outcomes and Monetary Policy Actions: Strange Bedfellows or Kissin' Cousins?. ICPSR01222-v1. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2000-08-28. doi:10.3886/ICPSR01222.v1
Persistent URL: http://dx.doi.org/10.3886/ICPSR01222.v1
Scope of Study
Geographic Coverage: United States
Data Collection Notes:
(1) The file submitted is 0005kk.xls, which contains data and calculations for Figures 1-5 and Table 1. (2) These data are part of ICPSR's Publication-Related Archive and are distributed exactly as they arrived from the data depositor. ICPSR has not checked or processed this material. Users should consult the investigator(s) if further information is desired.
Original ICPSR Release: 2000-08-28
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