Conference Agenda
Overview and details of the sessions of this conference. Please select a date or location to show only sessions at that day or location. Please select a single session for detailed view (with abstracts and downloads if available).
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Daily Overview |
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Egg-Timer: Trade, Resources and the Energy Transition Location: D-112 Session Chair: Heloisa De Paula, Insper | |
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Beyond Commodity Prices: Exchange Rates and Amazon Deforestation 1: Insper, Brazil; 2: CFM This paper investigates the aggregate and dynamic effects of commodity price fluctuations and exchange rate movements on deforestation in the Brazilian Amazon. We identify exogenous shocks to the prices of two key commodities, grains and cattle, as well as to the exchange rate, and use these shocks as external instruments in a Structural Vector Autoregression (SVAR) framework. We find that, while grain price shocks have little effect on forest loss, cattle price shocks generate a persistent increase in deforestation. In addition, we identify a new channel by which exchange rate depreciations lead to higher deforestation, operating through their impact on commodity prices in local currency terms, which underscores the importance of macroeconomic conditions, beyond global commodity markets alone, in shaping deforestation dynamics. | |