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Common Agriculture Policy and Price Stabilization - The Case of Wheat Market
Agricultural prices volatility plays important role in the variety of economic processes. It directly impacts stability of farmers' income and has impact on economic efficiency of agricultural production. In this paper volatility of prices on Polish, European Union and global wheat market is quantified. The aim of the article is to answer the question whether Polish wheat price volatility changed after joining the European Union. Using monthly prices for two subperiods 1993-2004 and 2005-2014 absolute and relative volatility was estimated. The results indicate that there was a substantial volatility growth after accession to the European Union. However when the relation of volatility on Poli...
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