The impact of prices and macroeconomic policies on agricultural supply: a reply
回复了对一篇关于农业价格、宏观经济政策与农业供给关系综述的评论，指出价格波动和产量波动对收入稳定及价格稳定政策的重要性，并讨论了风险概念的不确定性。
In his comment on my review of the links between agricultural prices, macroeconomic policies, and agricultural (Mamingi, 1997), the Reviewer (1998) pointed out that key theoretical as well as political and practical issue, that is the variability of prices, and, consequently, price stabilisation policies are missing. I welcome his remark, although these omissions dealing with are also present in many related literature reviews. This state of affairs is, perhaps, due to the lack of consensus on the exact meaning of risk. Indeed, risk is like love (Stiglitz cited by Roumasset, 1979, p. 4) in the sense that have a good idea of what is, but we can't define it precisely (Roumasset, 1979, p. 4). My task in this note is to pinpoint a range of issues concerning some points raised by the Reviewer. The Reviewer underlined that empirically many authors have acknowledged the importance of risk considerations in shaping agricultural supply (see, for example, Freund, 1956). I believe that, besides price variability, the common measurement in agriculture, variability in yields (production instability) must also be considered as the two types of have an impact on income stability as well as price stabilisation (see also, Lele and Christiansen, 1989, p. 8).