Person:
Gautam, Madhur
Author Name Variants
Fields of Specialization
Agriculture,
Rural development
Degrees
Departments
Global Practice on Agriculture
Externally Hosted Work
Contact Information
Last updated
January 31, 2023
Biography
Madhur Gautam is a Lead Economist with the Agriculture Global Practice at the World Bank. He has a Ph.D. in Agricultural Economics from the University of Maryland. His experience at the World Bank over the past 25 years spans Development Economics (Research), the Agricultural Policies Unit, the Independent Evaluation Group, and Operations. He has focused mainly on agricultural and food policy analysis and strategy, and has wide experience in economic and policy analysis and dialogue in Africa and South Asia.
Publication Search Results
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Publication
Managing Food Price Volatility in a Large Open Country: The Case of Wheat in India
(World Bank, Washington, DC, 2016-02)India has pursued an active food security policy for many years, using a combination of trade policy interventions, public distribution of food staples, and assistance to farmers through minimum support prices defended by public stocks. This policy has been quite successful in stabilizing staple food prices, but at a high cost, and with potential risks of unmanageable stock accumulation. Based on a rational expectations storage model representing the Indian wheat market and its relation to the rest of the world, this paper analyzes the cost and welfare implications of this policy and unpacks the contribution of its different elements. To analyze alternative policies, social welfare is assumed to include an objective of price stabilization and optimal policies corresponding to this objective are assessed. Considering fully optimal policies under commitment as well as optimal simple rules, it is shown that adopting simple rules can achieve most of the gains from fully optimal policies, with both potentially allowing for lower stockholding levels and costs.