The Economics of Rumpelstiltskin
Why speculation is not a prime cause of high and volatile international agricultural commodity prices: An economic analysis of the 2007-08 price spike - In this paper the authors, Harald von Witzke and Steffen Noleppa, analyze the determinants of the 2007-08 price spike and quantify the impact of a number of supply and demand side variables on monthly prices of wheat, corn and soybeans.
The results of their analysis suggest that the price spike of 2007-08 can largely be explained by changes in supply and demand determining variables, leaving little room for unexplained price changes that might be attributed to speculation.
Download the article. (PDF 588kb)
President of HFFA at German Bundestag
The following link guides you to the statements of Prof. Dr. Dr. h.c. Harald von Witzke during the April 4, 2011 public hearing of the 35th meeting of the German Bundestag Committee on Food, Agriculture and Consumer Protection about world food security.