Impact of the COVID-19 Pandemic on the World Energy and Food Commodity Prices: Implications for Global Economic Growth

Review Agricultural Economics & Policy

Food security and disruptions of the global food supply chains during COVID-19: building smarter food supply chains for post COVID-19 era

Michael Omotayo Alabi et al.

Summary: The COVID-19 pandemic has had a significant impact on food security and global food supply chains, leading to increased food insecurity in Canada and the US. This paper proposes a strategy or framework for building smarter and more resilient food supply chains.

BRITISH FOOD JOURNAL (2023)

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Article Management

Detrended cross-correlations analysis between oil shocks and world food prices

Khaled Mokni

Summary: This paper examines the relationship between oil price shocks and global food prices from 1974 to 2018. The results show that the correlation between oil and food prices depends on whether the changes in oil prices are driven by supply or demand shocks. In addition, contagion effects between the oil and food markets were observed during the food crisis of 2006-2008, with oil-specific demand shocks being the main contributor.

INTERNATIONAL JOURNAL OF ENERGY SECTOR MANAGEMENT (2023)

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Article Agronomy

Assessing the Agricultural Sector's Resilience to the 2008 Economic Crisis: The Case of Greece

Labros Sdrolias et al.

Summary: This paper examines the resilience of the Greek agricultural sector compared to eight other sectors in the context of the 2008 economic crisis. The study shows that although the agricultural sector in Greece is generally resilient, it has not fully recovered to its pre-crisis performance and exhibits uneven distribution across regions. The analysis contributes to the understanding of regional resilience and provides insights into the structural analysis of the Greek rural economy.

AGRICULTURE-BASEL (2022)

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Article Economics

Macroeconomic Implications of COVID-19: Can Negative Supply Shocks Cause Demand Shortages?

Veronica Guerrieri et al.

Summary: Motivated by the COVID-19 pandemic, this study presents a theory of Keynesian supply shocks, which occur when a reduction in potential output in one sector leads to a decrease in aggregate activity below potential by reducing demand in other sectors. The likelihood of such shocks increases when there is low elasticity of substitution between sectors, high intertemporal elasticity of substitution, and incomplete markets. The study suggests that fiscal policy may have a smaller multiplier effect in such shocks, but the insurance benefit of fiscal transfers can be enhanced. Firm exits and job destruction can further amplify and propagate the shocks.

AMERICAN ECONOMIC REVIEW (2022)

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Article Economics

Oil shocks and the US economy in a data-rich model

Kuhelika De et al.

Summary: Different types of global crude oil price shocks have different effects, with demand and supply driven shocks leading to price increases and affecting US prices; precautionary demand shocks for specific oil drive fluctuations in oil prices and US price levels, while demand-driven shocks have different impacts on US economic activity.

ECONOMIC MODELLING (2022)

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Article Thermodynamics

COVID-19 impact on multifractality of energy prices: Asymmetric multifractality analysis

Khalid Khan et al.

Summary: This study assesses the asymmetric multifractality of energy prices during the COVID-19 pandemic using asymmetric multifractality detrended fluctuation analysis. The findings show different levels of multifractality in the upward and downward movements of energy prices, and indicate increased market inefficiency during the COVID-19 period.

ENERGY (2022)

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Article Agricultural Economics & Policy

EUROPEAN UNION AGRI-FOOD PRICES DURING COVID-19 AND THEIR SELECTED DETERMINANTS

Mariusz Hamulczuk et al.

Summary: This study examines the impact of the COVID-19 crisis on agri-food commodity prices in EU countries, finding variations in price dynamics influenced by restrictions and food self-sufficiency.

ZAGADNIENIA EKONOMIKI ROLNEJ (2022)

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Article Agricultural Economics & Policy

Impacts of COVID-19 and Price Transmission in US Meat Markets

A. Ford Ramsey et al.

Summary: The analysis of U.S. meat prices before the COVID-19 pandemic showed that the three markets are well-integrated. Unexpected, large price movements were observed in April and May of 2020, but early COVID-19-related shocks appear to be transitory, with prices returning to expected levels at a pace consistent with the speed of transmission prior to the pandemic. This suggests a degree of resilience in U.S. meat supply chains.

AGRICULTURAL ECONOMICS (2021)

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Article Public, Environmental & Occupational Health

The COVID-19 Pandemic and Economic Growth: Theory and Simulation

Lijin Xiang et al.

Summary: The outbreak of COVID-19 reduces labor supply and negatively affects economic output. Accumulation of health capital can promote economic growth. Governments need to balance costs and benefits when formulating public health policies to ensure economic recovery and stable development.

FRONTIERS IN PUBLIC HEALTH (2021)

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Article Agricultural Economics & Policy