Agriculture,trade, and macroeconomics: The U.S. case

The persistent appreciation of the U.S. dollar from 1980 through 1984 raise the issue of macroeconomic impacts on trade sectors as a critical policy concern. In this article a six-variable vector autoregressive model is utilized to evaluate the dynamic effects of macroeconomic shocks on U.S. agriculture, a key trade sector. The results suggest that the impacts are substantial. Expansion of the money supply or a decline in the real interest rate or the real value of the dollar has a positive effect on agricultural exports and relative prices, whereas autonomous inflationary shocks have negative effects.     

“京城第一玩家”王世襄旧影

2009年11月28日,95岁的王世襄在北京逝世,同时离去的还有他所代表的那种精致生活的态度。他曾在《锦灰堆·北京鸽哨》一文的自序中写道:自幼及壮,从小学到大学,始终是玩物丧志,业荒于嬉。秋斗蟋蟀,