Korea Rural Economic Institue

KREI OA 정책 KREI 전자도서관

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영문 제목: A Study on the Climate, Harvest and Price Fluctuations in Korea during

목차: 1. 연구의 배경 및 목적
2. 기후충격과 저장체계와의 연관성
3. 작황변동과 가격반응과의 관계

This study focuses on the period 18c to 19c in Chos n Dynasty, causes and
effects of the stability and volatility of rice price. The quest for the
stability of grain price in a agricultural society was a quest for consumption
stability that had welfare-increasing effects. The grain storage has the
function that smooth variations in harvest shock, but inadequate inventories for
carry-over could be related to excessive risks. Market also has same
function.
The debate concerning the cause of price stability is in process, which
focal points are the harvest run, the price run, the granary system, and market
integration. In this study, we examine the relationship between rice price and
the volume of harvest. During the 18th-19th century, Harvest appears to have
been randomly distributed around the 31-moving average. In contrast to the
results from the harvest data, a year of low price tends to be followed by
further years of low prices. High-price periods are generally followed
high prices