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Home Browse 2024 - Volume 126 Volume 126 - Issue 1

Comparing the impacts of economic uncertainty, climate change, Covid-19, and the Russia-Ukraine conflict: Which is the most dangerous for EU27 food prices?

byNUGROHO, Agus DwiandMASYHURI, Muhammad
  • Year 2024
  • Volume 126
  • Issue 1
  • Pages 18-25

This study compares the impact of economic uncertainty, climate change, Covid-19, and the Russia-Ukraine conflict on 27 European countries (EU27) food prices. The author used panel data that combines cross section data from January 2019 – March 2023 and time series data from 27 European countries. The error correction model (ECM) and Autoregressive Distributed Lag (ARDL) were used to analyse the data. The domestic energy consumer price index, real broad exchange rate, climate change, and Russia-Ukraine armed clashes are the drivers of the short and long run rise in the EU27 domestic food consumer price index. New domestic cases of Covid-19 can increase the EU27 domestic food consumer price index in the short run but not in the long run. Meanwhile, an increase in the unemployment rate has the potential to lower the EU27 domestic food consumer price index in both the short and long run. Among all the global shocks examined in this study, changes in the real broad exchange rate have the greatest impact on the EU27 domestic food consumer price index.

Tags: global shocks; unemployment; energy prices; real broad exchange rate
  • https://doi.org/10.7896/j.2705
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  • Scopus SJR (2024): 0.37
  • Scopus CiteScore (2022): 2.0
  • WoS Journal Impact Factor (2023): 0.9
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  • ISSN (electronic): 2063-0476
  • ISSN-L 1418-2106

 

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Publisher Name: Institute of Agricultural Economics Nonprofit Kft. (AKI)

Publisher Headquarters: Zsil utca 3-5, 1093-Budapest, Hungary

Name of Responsible Person for Publishing:        Dr. Pal Goda

Name of Responsible Person for Editing:             Dr. Attila Jambor

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The publication cost of the journal is supported by the Hungarian Academy of Sciences.

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Keywords

adoption (6) agricultural exports (3) agriculture (13) AKIS (4) Albania (4) CAP (4) Central and Eastern Europe (3) climate change (7) Common Agricultural Policy (3) competitiveness (5) consumer preferences (4) Covid-19 (6) Data Envelopment Analysis (3) DEA (3) digitalisation (4) economic growth (3) efficiency (3) elasticity (3) European Integration (3) European Union (8) family farms (4) food security (4) Hungary (5) impact evaluation (4) innovation (4) Kosovo (3) LEADER (4) maize (3) off-farm income (4) participation (3) policy (4) price transmission (3) profitability (4) propensity score matching (3) risk management (3) rural areas (4) rural development (13) social capital (3) social innovation (3) Structural Funds (3) sustainability (6) sustainable agriculture (4) sustainable development (4) technical efficiency (6) Ukraine (4)
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