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Jel Classification:Q11 

Working Paper
Rising Market Concentration and the Decline of Food Price Shock Pass-Through to Core Inflation

Using a vector autoregression that allows for time-varying parameters and stochastic volatility, we show that U.S. core inflation became 75 percent less responsive to shocks in food prices since the late 1970s. The decline in the pass-through of food price shocks to inflation is a result of a decline in both volatility and the persistence of food price changes in inflation. This decline in pass-through coincides with a period of increasing concentration in the food supply chain, especially among U.S. grocery retailers and distributors. We find that 60 percent of the variation in pass-through ...
Research Working Paper , Paper RWP 19-2

Journal Article
Transitioning to the Long Term : Agricultural Symposium 2019

To be successful in the future, agricultural producers will need to take leadership as production conditions, the climate, and technologies evolve.
Economic Review , Issue Special Issue 2019 , Pages 85-101

Working Paper
A staggered pricing approach to modeling speculative storage: implications for commodity price dynamics

This paper embeds a staggered price feature into the standard speculative storage model of Deaton and Laroque (1996). Intermediate goods inventory speculators are added as an additional source of intertemporal linkage, which helps us to replicate the stylized facts of the observed commodity price dynamics. Incorporating this type of friction into the model is motivated by its ability to increase price stickiness which, gives rise to a higher degree of persistence in the first two conditional moments of commodity prices. The structural parameters of our model are estimated by the simulated ...
FRB Atlanta Working Paper , Paper 2013-08

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Assa, Hirbod 1 items

Brown, Jason 1 items

Colton, Tousey 1 items

Dabbous, Amal 1 items

Gospodinov, Nikolay 1 items

Gunderson, Michael A. 1 items

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