Dynamic Models for Stabilizing Food Prices
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Multiyear dynamic spatial models of the U.S. grain, oilseed, and livestock (GOL)
economy show how to stabilize prices in this part of the world food economy.
The standard GOL model can be operated at modest cost, well within the limits
of previous price support and storage programmes operated by the U.S.
government. Appropriate application of the model and its derivatives will
stabilize the U.S. GOL economy within a relatively narrow price band, and this
will help to stabilize prices in other trading countries as well.