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Registros recuperados: 337
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The Effects of Mad Cow Disease on U.S. Live Cattle Futures Price AgEcon
Paiva, Newton N..
Due to red meat consumption, bovine spongiform encephalopathy (BSE) disease has been a major human health concern since its discovery in 1986. An event study approach was applied to determine the impact of BSE official events that occurred in the United Kingdom on U.S. live cattle futures prices. When abnormal returns were aggregated during the course of the events, the price series were adversely affected, mainly after the event day. This suggests that market reaction was dissipated quickly and that no leakage of information occurred prior to the event.
Tipo: Journal Article Palavras-chave: Abnormal returns; Bovine spongiform encephalopathy; Event study; Live cattle futures price; Q11; Q13; Q14; Q17.
Ano: 2003 URL: http://purl.umn.edu/43215
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Decomposing Changes in Agricultural Producer Prices AgEcon
Liefert, William M..
This paper develops a method for decomposing changes in agricultural producer prices. The method builds on a procedure used by the World Bank, with the key variables in the decomposition being trade prices, exchange rates, and agricultural trade policies. The main ways by which we expand on the World Bank decomposition procedure are by broadening the analysis of policy effects, and by adding the effect from incomplete transmission of changes in border prices and exchange rates to producer prices, and the effect on prices from interactions between variables as they change simultaneously. We demonstrate the decomposition method by using the Russian poultry market in the late 1990s, and find that the dominant factor in changing the producer price was the...
Tipo: Conference Paper or Presentation Palavras-chave: Agricultural prices; Price transmission; Exchange rates; Trade policy; Russian agriculture; Developing economies; Transition economies; Agricultural Finance; F13; O13; 024; Q11; Q17.
Ano: 2006 URL: http://purl.umn.edu/25331
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The Survival of Small-scale Agricultural Producers in Asia, particularly Vietnam: General Issues Illustrated by Vietnam's Agricultural Sector, especially its Pig Production AgEcon
Tisdell, Clement A..
Economic growth in more developed countries has resulted in farms increasing their scale of production and becoming more specialized in their production. The sizes of farms have tended to increase, agricultural production has become more capital-intensive, and the percentage of the workforce employed in agriculture has shown a falling trend. This process has been brought about by the operation of market systems and has reduced the number of small-scale agricultural producers. Asia still has a huge number of small-scale agricultural producers. As Asian countries experience economic growth and as market systems become more established in Asia, the survival of Asia’s small-scale agricultural producers is likely to be threatened. Since these producers are...
Tipo: Working or Discussion Paper Palavras-chave: Agricultural policies; Asia; Economies of scale; Farm sizes; Household agriculture; Industrial agriculture; Pigs; Vietnam; Agricultural and Food Policy; International Development; Q1; Q11; Q12; Q15; Q18.
Ano: 2009 URL: http://purl.umn.edu/90625
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Industry Speaks Reflections on the Irrational AgEcon
Gobbee, Jose E..
This article analyzes the various components of the current financial crisis and its implications for agriculture. While financial markets have been overrun by steep losses, violent price movements, and irrationality associated with a classic bubble, agricultural markets still have sound fundamentals and their underlying real assets may prove to be a safe haven during these trying times.
Tipo: Journal Article Palavras-chave: Economic slowdown; Global recession; Agricultural commodities; Demand; Financial crisis; Political Economy; Production Economics; Public Economics; Q10; Q11; Q14.
Ano: 2008 URL: http://purl.umn.edu/53742
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Spatial Price Analysis Incorporating Rate of Trade: Methods and Application to United States–China Soybean Trade AgEcon
Han, Shengfei; Durham, Catherine A..
A regime-switching model for analysis of market integration has been developed that incorporates rate of trade information. An application of the methods to United States–China soybean trade demonstrates that the extended trade information allows better interpretation of market conditions. While the empirical results show that China’s reform efforts since mid 1990s toward an open market have greatly improved United States–China soybean markets integration, about 40% of nontransitional disequilibrium occurrences likely indicate infrastructural limits such as the lack of information availability and limited competition. The United States–China price linkage is observed to be closer after China’s World Trade Organization membership. The link has also been...
Tipo: Journal Article Palavras-chave: China; Futures markets; Market integration; Regime switching; Soybeans; World Trade Organization; Agricultural and Food Policy; Crop Production/Industries; Farm Management; International Relations/Trade; Marketing; F15; G13; Q11.
Ano: 2010 URL: http://purl.umn.edu/90667
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Are Staple Food Markets in Africa Efficient? Spatial Price Analyses and Beyond AgEcon
Rashid, Shahidur; Minot, Nicholas.
Paper to be presented at the Comesa policy seminar “Food price variability: Causes, consequences, and policy options" on 25-26 January 2010 in Maputo, Mozambique under the Comesa-MSU-IFPRI African Agricultural Markets Project (AAMP)
Tipo: Conference Paper or Presentation Palavras-chave: Sub saharan Africa; Food security; Food prices; Markets; Efficiency; Agricultural and Food Policy; Community/Rural/Urban Development; Demand and Price Analysis; Food Security and Poverty; International Development; International Relations/Trade; Q11; Q13; Q18; Q17.
Ano: 2010 URL: http://purl.umn.edu/58562
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The Choice of Technology in Russian Agriculture: An Application of the Induced Innovation Hypothesis AgEcon
Hockmann, Heinrich; Kopsidis, Michael.
Even after more then ten years after the beginning of the transition process, Russian agriculture shows only limited sign of a recovery. Production has not reached the level of the pre-transition period and investment is still on a very low level. In this paper we use the "Theory of Induced Innovation" in order to access the development of production structures in Russia and to identify the major obstacles for restructuring. We argue that due to multiple market failure (capital, labour) and inappropriate institutional arrangements inherited from Soviet times hinder the development of Russian agriculture. Both reasons causes that agricultural enterprises have difficulties with regard to an adjustment of factor input and production corresponding to the real...
Tipo: Conference Paper or Presentation Palavras-chave: Technical change; Efficiency; Russia; Agriculture; Induced innovation theory; Agribusiness; Q11; Q16.
Ano: 2005 URL: http://purl.umn.edu/24652
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Consumer Preferences for Animal Welfare Attributes: The Case of Gestation Crates AgEcon
Tonsor, Glynn T.; Olynk, Nicole J.; Wolf, Christopher A..
Animal welfare concerns are having dramatic impacts on food and livestock markets. Here we examine consumer preferences for pork products with a focus on use of gestation crates. We examine underlying consumer valuations of pork attributes while considering preference heterogeneity as well as voluntary and legislative alternatives in producing gestation crate-free pork. Our results suggest that prohibiting swine producers from using gestation crates fails to improve consumer welfare in the presence of a labeling scheme documenting voluntary disadoption of gestation crates. Consumers are found to implicitly associate animal welfare attributes with smaller farms. Preference heterogeneity drives notably diverse consumer welfare impacts when pork produced with...
Tipo: Journal Article Palavras-chave: Animal welfare; Consumer welfare; Economics of legislation; Gestation crates; Pork; Swine; Voluntary labeling; Willingness to pay; Agribusiness; Agricultural and Food Policy; Consumer/Household Economics; Industrial Organization; Livestock Production/Industries; Q11; Q13; Q18.
Ano: 2009 URL: http://purl.umn.edu/56658
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Estimating a Demand System with Seasonally Differenced Data AgEcon
Harri, Ardian; Brorsen, B. Wade; Muhammad, Andrew; Anderson, John D..
Several recent papers have used annual changes and monthly data to estimate demand systems. Such use of overlapping data introduces a moving average error term. This paper shows how to obtain consistent and asymptotically efficient estimates of a demand system using seasonally differenced data. Monte Carlo simulations and an empirical application to the estimation of the U.S. meat demand are used to compare the proposed estimator with alternative estimators. Once the correct estimator is used, there is no advantage to using overlapping data in estimating a demand system.
Tipo: Journal Article Palavras-chave: Autocorrelation; Demand system; Monte Carlo; Overlapping data; Seasonal differences; Agribusiness; Demand and Price Analysis; Financial Economics; Research Methods/ Statistical Methods; C13; Q11; Q13.
Ano: 2010 URL: http://purl.umn.edu/90679
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Impacts of Expanded Ethanol Production on Southern Agriculture AgEcon
Susanto, Dwi; Rosson, C. Parr, III; Hudson, Darren.
This study analyzes the potential impacts of expanded ethanol production on southern agriculture. Results of regression analysis suggest that acreage planted for field crops (corn, cotton, soybeans, and wheat) is inelastic with respect to relative prices. The results provide statistical evidence of potential significant acreage shifts favoring corn over cotton, soybeans, and wheat. Simulations indicate that higher corn prices will increase corn acreage, but the South continues to be a deficit corn region. U.S. corn production is capable of supplying domestic demand for ethanol, feed for livestock and poultry, and other uses, while maintaining exports at more than 2 billion bushels annually.
Tipo: Journal Article Palavras-chave: Acreage shifts; Corn exports; Ethanol production; Southern agriculture; Agribusiness; Environmental Economics and Policy; Production Economics; Research and Development/Tech Change/Emerging Technologies; Q11; Q42.
Ano: 2008 URL: http://purl.umn.edu/47200
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Competiveness of Latin American Exports in the U.S. Banana Market AgEcon
Muhammad, Andrew; Fonsah, Esendugue Greg; Zahniser, Steven.
U.S. banana demand differentiated by country of origin is estimated using the generalized dynamic Rotterdam model. Results indicate that dynamic factors play a significant role in determining the allocation of U.S. banana expenditures across exporting sources. Of particular interest is Guatemala’s increased share and Costa Rica’s decreased share of U.S. banana supply. A number of factors explained why Guatemala replaced Costa Rica as the leading U.S. supplier in 2007. (1) Guatemala is the least expensive source on average. (2) Habit persistence, adjustment costs, and other dynamic factors favor Guatemala’s exports. (3) Given increases in the relative price of Costa Rica’s bananas, the price competition between Costa Rica and Guatemala is highly...
Tipo: Conference Paper or Presentation Palavras-chave: Bananas; Imports; Demand; Latin America; United States; Demand and Price Analysis; International Relations/Trade; F14; Q11; Q13; Q17.
Ano: 2011 URL: http://purl.umn.edu/98365
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Potential Benefits of Bt Brinjal in India — An Economic Assessment AgEcon
Kumar, Sant; Lakshmi Prasanna, P.A.; Wankhade, Shwetal.
The potential economic benefits of Bt brinjal hybrids in terms of yield gain, reduction in insecticide-use, and increase in net returns per hectare have been reported in this study. Results have shown that adoption of Bt brinjal hybrids would provide yield gain of 37 per cent and reduction in total insecticide-use of about 42 per cent over non-Bt hybrids. Other benefits like increase in additional brinjal production (30 thousand tonnes), savings from insecticides (` 47 crore) against Fruit and Shoot Borer (FSB), increase in net returns (` 11029/ha), and reduction in price of brinjal output (3%), etc. would be at 15 per cent adoption level. With increased adoption level of 60 per cent of Bt brinjal hybrids would provide, additional production of 119...
Tipo: Journal Article Palavras-chave: GM food crop; Bt brinjal hybrid; Fruit and shoot borer; Economic benefits; Agricultural and Food Policy; Q11; Q16; Q15.
Ano: 2011 URL: http://purl.umn.edu/109420
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Will Higher Shipping Costs Drive the U.S. to Source More Localized Produce? AgEcon
Woods, Timothy A.; Saghaian, Sayed H.; Ona, Lucia Y..
The recent wide fluctuations in diesel fuel costs and subsequent trucking costs has raised speculation within the produce industry of potential structural shifts in the location of production. Recent increases in demand for local produce seem to further support speculation toward this end. A component pricing model is used to actually examine the impact of fuel prices on farm gate and retail produce prices for strawberries, lettuce, and potatoes. The study finds that distribution costs, while significantly increasing in absolute value, have surprisingly little contribution to changes in retail prices even in markets distant to the primary production regions. These results suggest that factors other than lower distribution costs for local produce will...
Tipo: Conference Paper or Presentation Palavras-chave: Produce; Local; Marketing margin; Fuel cost; Agribusiness; Crop Production/Industries; Demand and Price Analysis; Food Consumption/Nutrition/Food Safety; Marketing; Q11; Q12; Q13; Q18.
Ano: 2009 URL: http://purl.umn.edu/46872
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The Emergence of an Agro-Energy Sector: Is Agriculture Importing Instability from the Oil Sector? AgEcon
Muhammad, Andrew; Kebede, Ellene.
Tipo: Journal Article Palavras-chave: Corn; Oil; Ethanol; Biofuels; Prices; Agribusiness; Q11; Q42; Q48.
Ano: 2008 URL: http://purl.umn.edu/94695
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Biotechnology in Agriculture and Forestry: Economic Perspectives AgEcon
van Kooten, G. Cornelis.
Economists are rarely brought into the interdisciplinary research until the biophysical scientists have developed their models, made their measurements or completed their research task. The research economist is then brought in to do what amounts to a consulting task – provide some numbers that indicate impacts on the economy and employment. In this paper, I begin by illustrating cases from forestry where this leads to erroneous and costly policy outcomes. However, the main objective of this paper is to examine the role of genetic engineering in forestry and agriculture. In forestry, planting of genetically-modified (GM) tree species is nearly non-existent, with the exception of hybrid poplar that is used to produce pulp or fuel. However, as explored here,...
Tipo: Working or Discussion Paper Palavras-chave: Precautionary principle; Economics of genetically-modified organisms; Agriculture and forestry; Mountain pine beetle; Agricultural and Food Policy; Resource /Energy Economics and Policy; O13; O32; Q11; Q18; Q23.
Ano: 2011 URL: http://purl.umn.edu/107480
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Interdependencies in the Energy-Bioenergy-Food Price Systems: A Cointegration Analysis AgEcon
Ciaian, Pavel; Kancs, d'Artis.
The present paper examines a long-run relationship between the energy, bioenergy and food prices. In the recent years the bioenergy production has increased significantly around the world. The increase has been driven by rising energy prices as well as by environmental policies aiming at reducing the harmful effects of conventional sources of energy, such as climate change. Bioenergy, in turn, affects agricultural markets, because it uses agricultural commodities as inputs. The theoretical model we develop predicts that, because of price inelastic food demand, the agricultural price increase may be substantial. The empirical findings confirm the theoretical hypothesis that energy prices do affect prices of agricultural commodities. However, the...
Tipo: Conference Paper or Presentation Palavras-chave: Energy; Bioenergy; Crude oil; Renewable fuel; Cointegration; Agricultural and Food Policy; Demand and Price Analysis; International Development; Resource /Energy Economics and Policy; C14; C22; C51; Q11; Q13; Q42.
Ano: 2010 URL: http://purl.umn.edu/61009
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Price distortions on the Hungarian raw milk market AgEcon
Voneki, Eva; Hockmann, Heinrich.
The paper attempts to identify the impact of market power in the Hungarian milk chain. Since the conventional conjectural variation approach provides suspicious results the incentives to collude are discussed in an alternative framework. It is argued that the high degree of market transparency, the high frequency of interaction, the low number of large firms which could actually influence market prices, the threat of severe sanctions due to the under-utilization of processing capacities as well as opportunistic behavior make collusive behavior more likely than competitive behavior. The empirical evidence for the period 1998 to 2006 supports this view.
Tipo: Conference Paper or Presentation Palavras-chave: Market power; Dairy processing; Hungary; Industrial Organization; Q11; Q13.
Ano: 2009 URL: http://purl.umn.edu/51673
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Monetary Impacts and Overshooting of Agricultural Prices in a Transition Economy: The Case of Slovenia AgEcon
Bakucs, Lajos Zoltan; Bojnec, Stefan; Ferto, Imre.
The paper focus on the time adjustment paths of the exchange rate and agricultural producer and industrial prices in response to unanticipated monetary shocks following model developed by Saghaian et al. (2002). We employ Johansen's cointegration test along with a vector error correction model to investigate whether agricultural producer prices overshoot in a transition economy. Results indicate that agricultural prices adjust faster than industrial prices to innovations in the money supply, affecting relative prices in the short run, but strict long-run money neutrality does not hold. The impulse response analysis shows that an exogenous shock to the money supply has a significant and volatile effect on the three price variables. Initially, both the...
Tipo: Conference Paper or Presentation Palavras-chave: Agricultural prices; Exchange rates; Monetary shocks; Overshooting; Transition economy; Financial Economics; C32; E51; P22; Q11.
Ano: 2006 URL: http://purl.umn.edu/25515
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Do U.S. Cotton Subsidies Affect Competing Exporters? An Analysis of Import Demand in China AgEcon
Muhammad, Andrew; McPhail, Lihong Lu; Kiawu, James.
We estimate the demand for imported cotton in China and assess the competitiveness of cotton-exporting countries. Given the assertion that developing countries are negatively affected by U.S. cotton subsidies, our focus is the price competition between the United States and competing exporters (Benin, Burkina Faso, Chad, Mali, India, and Uzbekistan). We further project how U.S. programs affect China’s imports by country. Results indicate that if U.S. subsidies make other exporting countries worse off, this effect is lessened when global prices respond accordingly. If subsidies are eliminated, China’s cotton imports may not fully recover from the temporary spike in global prices.
Tipo: Article Palavras-chave: China; Cotton; Import demand; Rotterdam model; Subsidies; United States; West Africa; International Relations/Trade; F17; Q11; Q17.
Ano: 2012 URL: http://purl.umn.edu/123786
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Issues and Strategies for Aggregate Supply Response Estimation for Policy Analyses AgEcon
Ramirez, Octavio A.; Mohanty, Samarendu; Carpio, Carlos E.; Denning, Megan.
We demonstrate the use of the small-sample econometrics principles and strategies to come up with reliable yield and acreage models for policy analyses. We focus on demonstrating the importance of proper representation of systematic and random components of the model for improving forecasting precision along with more reliable confidence intervals for the forecasts. A probability distribution function modeling approach, which has been shown to provide more reliable confidence intervals for the dependent variable forecasts than the standard models that assume error term normality, is used to estimate cotton supply response in the Southeastern United States.
Tipo: Journal Article Palavras-chave: Nonnormality; Probability distribution function; Supply response; Q11; Q18; C32.
Ano: 2004 URL: http://purl.umn.edu/43420
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