How macroeconomic performance affects farmer’s term of trade: Evidence from East Java Province, Indonesia

Macroeconomic Effects of the Terms of Trade Shocks: Evidence from OPEC

This paper evaluates the impact of the positive terms of trade (TOT) Shock on macroeconomic variables, using panel data for the six OPEC major oil exporting countries during 1989-2005. The findings indicate that the positive TOT shocks have the small and negative impact on savings and on the trade balance. Nevertheless, it has a positive impact on investment (specifically private investment) an...

How Inflation Affects Macroeconomic Performance: An Agent-Based Computational Investigation1

1 Useful comments were received from participants at Leiden and Sophia Antipolis. Financial support from the NSF is gratefully acknowledged.

How Inflation Affects Macroeconomic Performance: An Agent-Based Computational Investigation∗

We use an agent-based computational approach to show how inflation can worsen macroeconomic performance by disrupting the mechanism of exchange in a decentralized market economy. We find that, in our model economy, increasing the trend rate of inflation above 3 percent has a substantial deleterious effect, but lowering it below 3 percent has no significant macroeconomic consequences. Our findin...

Actual and de facto Childlessness in Old Age: Evidence and Implications from East Java, Indonesia.

Outsourcing Agricultural Production: Evidence from Rice Farmers in Zhejiang Province

China has recorded positive growth rates of grain production for the past eleven consecutive years. This is a remarkable accomplishment given that China's rapid industrialization and urbanization has led to a vast reduction of arable land and agricultural labor to non-agricultural sectors. While there are many factors contributing to this happy outcome, one potential contributing factor that ha...