The effects of the oil price and temperature on food inflation in Latin America

Basit Öğe Kaydı
dc.contributor.authorKose, Nezir
dc.contributor.authorÜnal, Emre
dc.date.accessioned2026-01-31T15:04:25Z
dc.date.available2026-01-31T15:04:25Z
dc.date.issued2024
dc.departmentİstanbul Beykent Üniversitesi
dc.description.abstractThe impacts on food prices of temperature, the oil price, the exchange rate and wages in the agricultural industry were examined via a structural vector autoregression model and panel Granger causality test, using monthly data between January 2003 and December 2020 for Latin American countries. The paper concerns how much the determinants affect food prices. Empirical findings show that the oil price and temperature can be significant factors for reducing food inflation. According to the result of variance decomposition, in general, a considerable part of food inflation was explained by the exchange rate, but its effect did not show any significant change in the long term. The impacts of the oil price and temperature were limited in the early months, but they created larger changes over time. Impulse response function and the Granger causality test also indicated that exchange rate was a crucial dynamic in explaining food inflation in all countries except Ecuador. This country successfully mitigated the negative effect of the exchange rate, but the oil price and temperature had an impact on food inflation. All results indicate that both monetary and fiscal policies are essential to control food prices. These countries can accomplish this by conventional policies or by radical institutional changes. Nevertheless, the oil price and temperature are external dynamics, and crucial in creating alternative policies to control food inflation. © The Author(s), under exclusive licence to Springer Nature B.V. 2022.
dc.identifier.doi10.1007/s10668-022-02817-2
dc.identifier.endpage3295
dc.identifier.issn1387-585X
dc.identifier.issue2
dc.identifier.scopus2-s2.0-85144889700
dc.identifier.scopusqualityQ1
dc.identifier.startpage3269
dc.identifier.urihttps://doi.org/10.1007/s10668-022-02817-2
dc.identifier.urihttps://hdl.handle.net/20.500.12662/10542
dc.identifier.volume26
dc.indekslendigikaynakScopus
dc.language.isoen
dc.publisherSpringer Science and Business Media B.V.
dc.relation.ispartofEnvironment, Development and Sustainability
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanı
dc.rightsinfo:eu-repo/semantics/openAccess
dc.snmzKA_Scopus_20260128
dc.subjectC5
dc.subjectFood prices
dc.subjectG1
dc.subjectOil price
dc.subjectQ1
dc.subjectQ4
dc.subjectStructural VAR
dc.subjectTemperature
dc.titleThe effects of the oil price and temperature on food inflation in Latin America
dc.typeArticle

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