The Overshooting Hypothesis of Agricultural Prices: The Role of Asset Substitutability

By allowing for various degrees of asset substitutability between bonds and agricultural products, this paper reexamines the robustness of the overshooting hypothesis of agricultural product prices. It is found, in both a closed economy and an open economy, that the crucial factor determining whether agricultural prices overshoot or undershoot their long-run response following an expansion in the money stock depends upon the extent of asset substitutability between bonds and agricultural goods.asset substitutability, commodity prices, overshooting, Demand and Price Analysis,

(E)-Methyl N′-[1-(4-methoxy­phen­yl)ethyl­idene]hydrazinecarboxyl­ate

The mol­ecule of the title compound, C11H14N2O3, adopts a trans configuration with respect to the C=N bond. The dihedral angle between the benzene ring and the hydrazinecarboxyl­ate plane is 12.06 (9)°. Mol­ecules are linked into a one-dimensional network by N—H⋯O hydrogen bonds and C—H⋯π inter­actions. The benzene rings of inversion-related mol­ecules are stacked with their centroids separated by 3.777 (1) Å, indicating π–π inter­actions

(E)-Methyl N′-[(1H-indol-3-yl)methyl­idene]hydrazinecarboxyl­ate 0.25-hydrate

The asymmetric unit of the title compound, C11H11N3O2·0.25H2O, contains two independent organic mol­ecules and a water mol­ecule, which lies on a twofold rotation axis. The side chains of the two mol­ecules have slightly different orientations, the C=N—N—C torsion angle being −163.03 (15)° in one and −177.52 (14)° in the other, with each adopting a trans configuration with respect to the C=N bond. In the crystal, mol­ecules are linked into chains extending along b by N—H⋯O, O—H⋯N and O—H⋯O hydrogen bonds and in addition, four inter­molecular C—H⋯π inter­actions are present