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HEDONIC PRICE ESTIMATION FOR COMMODITIES: AN APPLICATION TO COTTON AgEcon
Ethridge, Don E.; Davis, Bob.
A model of hedonic prices – implicit prices of embodied quality attributes – was developed for cotton lint and the relative importance of various quality attributes were estimated with regression analysis from sample data on observed sales of cotton. Results indicated that producer prices were sensitive to variations in fiber length, micronaire, and trash content. Results also revealed differences in relative importance and sensitivity between years.
Tipo: Journal Article Palavras-chave: Crop Production/Industries; Demand and Price Analysis.
Ano: 1982 URL: http://purl.umn.edu/32258
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The Impacts of U.S. Cotton Programs on the World Market: An Analysis of Brazilian and African WTO Petitions AgEcon
Pan, Suwen; Mohanty, Samarendu; Ethridge, Don E.; Fadiga, Mohamadou L..
Brazil, supported by Australia challenged U.S. cotton programs at the September 2003 meeting of the WTO settlement Body. Brazil complained that U.S. cotton subsidies such as marketing loans, export credits, commodity certificates, direct payments and counter cyclical payments are depressing world prices and are injurious to Brazilian farmers. In addition, the West and Central African Countries (WCA) countries of Benin, Burkina Faso, Mali and Chad have filed a petition with the WTO claiming that they are losing export earnings of 1 billion dollar a year as a result of subsidies by the United States and the European Union (BBMC, 2003). For WCA countries, both production and export of cotton have increased in the last decade but export revenues have declined...
Tipo: Report Palavras-chave: Agricultural and Food Policy.
Ano: 2004 URL: http://purl.umn.edu/53150
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Texas-Oklahoma Producer Cotton Market Summary: 2000/2001 AgEcon
Ward, Jason; Nelson, Jeannie; Misra, Sukant K.; Ethridge, Don E..
The size of the Texas-Oklahoma spot market analyzed by the Daily Price Estimation System (DPES) for the 2000/2001 marketing year decreased considerably from the previous year. The average price received by producers during the 2000/2001 marketing year was about 50.9 cents/lb. The 2000 crop was generally of good quality, but the averages for the first digit of the color grade and leaf grade detoriated as compared with the 1999 crop. The percentage of bales having level 1 and 2 bark, and level 1 and 2 other extraneous matter decreased in comparison to the 1999 crop. With the exception of the second digit of the color grade price discounts for the 2000 crop decreased for all quality attributes. The premiums for the first digit of the color grade and strength...
Tipo: Working or Discussion Paper Palavras-chave: Crop Production/Industries.
Ano: 2001 URL: http://purl.umn.edu/31249
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Stochastic Analysis of World Cotton Outlook Addendum to the 2007/08-2017/18 Baseline AgEcon
Fadiga, Mohamadou L.; Pan, Suwen; Ethridge, Don E.; Hudson, Darren; Mutuc, Maria Erlinda M..
Tipo: Report Palavras-chave: The cotton market baseline analysis released in 2008 (Ethridge et al.) provided critical information about the future of the world cotton market over the next ten years (2007/02- 2017/18). It is based on a deterministic approach that utilizes the world fiber model developed by the Cotton Economics Research Institute (CERI) at Texas Tech University (Pan et al. 2004). The world fiber model is a multi-country multi-sector partial equilibrium model that includes the world’s 24 major cotton importing and exporting countries and regions. While the deterministic model provides the best available point estimates of potential market outcomes; It does not reveal information about the underlying variability of these markets over time.; Agricultural and Food Policy.
Ano: 2008 URL: http://purl.umn.edu/53140
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INCOME DISTRIBUTIONAL IMPACTS OF TRADE POLICIES IN A MULTI-MARKET FRAMEWORK: A CASE IN PAKISTAN AgEcon
Hudson, Darren; Ethridge, Don E..
The impacts of using export taxes as a price control in a multi-market framework are explored using the cotton and yarn sectors in Pakistan as examples. Results show that the export tax on cotton increased domestic consumption and decreased exports of cotton in Pakistan, transferring income from cotton producers to yarn spinners and the government. There was a social loss to Pakistan in the cotton sector. The export tax on cotton increased domestic yarn production, consumption, exports, and incomes of yarn spinners, but resulted in a large transfer (social loss) out of the yarn sector.
Tipo: Journal Article Palavras-chave: Cotton; Export tax; Simultaneous equations; Simulation; Policy; International Relations/Trade.
Ano: 2000 URL: http://purl.umn.edu/15398
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FUNCTIONAL FORM MODEL SPECIFICATION: AN APPLICATION TO HEDONIC PRICING AgEcon
Brown, Jeff E.; Ethridge, Don E..
A combination of conceptual analysis and empirical analysis-partial regression and residuals analysis-was used to derive an appropriate functional form hedonic price model. These procedures are illustrated in the derivation of a functional form hedonic model for an automated, econometric daily cotton price reporting system for the Texas-Oklahoma cotton market. Following conceptualization to deduce the general shapes of relationships, the appropriate specific functional form was found by testing particular attribute transformations identified from partial regression analysis. Minimizing structural errors across attribute levels and estimation accuracy were used in determining when an appropriate functional form for both implicit and explicit prices was...
Tipo: Journal Article Palavras-chave: Demand and Price Analysis.
Ano: 1995 URL: http://purl.umn.edu/31596
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Lessons Learned from the Phase-out of the MFA: Moving from Managed Distortion to Managed Distortion AgEcon
Hudson, Darren; Ethridge, Don E.; Mutuc, Maria Erlinda M..
While the elimination of the Multifibre Arrangement (MFA) was presumed to be a net global benefit because it represented an elimination of a distortionary set of trade agreements, it was based on the assumption that the underlying global trading regime was based on free trade principles. However, due to the trading pattern that has emerged after the MFA and its unintended consequences – with production infrastructure and trading rules based on distortionary incentives so entrenched into the system – the global trading regime after the elimination of quotas is still far short of free.
Tipo: Journal Article Palavras-chave: MFA; Textile and clothing; Trade; Demand and Price Analysis; Industrial Organization; Institutional and Behavioral Economics; International Relations/Trade; Production Economics.
Ano: 2011 URL: http://purl.umn.edu/104063
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Texas-Oklahoma Producer Cotton Market Summary: 1997/98 AgEcon
Hoelscher, Kevin; Ethridge, Don E.; Misra, Sukant K..
The 1997/98 Texas-Oklahoma producer cotton markets experienced a decrease in the average producer price of almost 5.5 cents/lb. from the previous marketing year. Overall, quality was generally high and differed little from the 1996 crop. The size of the 1997 crop increased significantly, while the amount of cotton available in the spot market increased accordingly, possibly contributing to the fall in prices. With the exception of strength, discounts for the 1997 crop decreased for every quality attribute, while premiums increased for every quality attribute except staple.
Tipo: Working or Discussion Paper Palavras-chave: Crop Production/Industries.
Ano: 1998 URL: http://purl.umn.edu/31250
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Texas-Oklahoma Producer Cotton Market Summary: 1999/2000 AgEcon
Nelson, Jeannie; Hoelscher, Kevin; Misra, Sukant K.; Ethridge, Don E..
The size of the Texas-Oklahoma spot market for the 1999/2000 marketing year increased considerably from the previous year and the average producer price declined for the fourth year in a row. The average price received by producers during the 1999/2000 marketing year was about 37.82 cents/lb., which was 13.32 cents/lb. lower than the previous marketing year. The 1999 crop was generally of good quality, but the average for staple length and strength declined compared to the 1998 crop. The percentage of bales having level 2 bark, and level 1 and 2 other extraneous matter also increased marginally when compared to the 1998 crop. With the exception of the first digit of the color grade, level 1 bark, and level 2 other extraneous matter, price discounts for the...
Tipo: Working or Discussion Paper Palavras-chave: Crop Production/Industries.
Ano: 2000 URL: http://purl.umn.edu/31242
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The Implications of an Export Tax on Sectoral Growth: A Case in Pakistan AgEcon
Hudson, Darren; Ethridge, Don E..
The implications of and export tax on sectoral economic growth in the cotton and yarn sectors in Pakistan are examined. Pakistan utilized an export tax on raw cotton fiber from 1988-1995 in order to lower input cost to domestic yarn spinners. The growth effects are simulated based on the results of a structural econometric model. Simulation results show that the export tax had a significant adverse impact on growth in the raw fiber sector. The lower input cost as a result of the tax, however, did not appear to stimulate growth in the yarn sector over what would have occurred without the policy.
Tipo: Report Palavras-chave: Agricultural and Food Policy.
Ano: 1998 URL: http://purl.umn.edu/53164
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THE INFLUENCE OF MARKET STRUCTURE ON THE IMPACTS OF DOMESTIC SUBSIDIES ON INTERNATIONAL COTTON MAREKTS AgEcon
Pan, Suwen; Hudson, Darren; Ethridge, Don E..
This analysis uses a residual demand elasticity model to measure market power of the international cotton market. The results indicate that both china and U.S. dominate the cotton price with a higher market power in china compared to the U.S. Those test results combined with a partial equilibrium model of the international cotton market are used to study the welfare consequences of U.S. cotton subsidy policies for major cotton exporters under alternative assumptions about global market structure. The results indicate that the effects of U.S. subsidies on world cotton price are much smaller under monopsony and double power (with china as a monopsony and U.S. as a monopoly) market assumption than those under complete competitive market scenarios.
Tipo: Conference Paper or Presentation Palavras-chave: U.S. Cotton Commodity Programs; Global Market Structure; International Trade; Agricultural and Food Policy; International Relations/Trade.
Ano: 2009 URL: http://purl.umn.edu/51196
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World Cotton Outlook: Projections to 2015/16 AgEcon
Ethridge, Don E.; Welch, Mark; Pan, Suwen; Fadiga, Mohamadou L.; Mohanty, Samarendu.
The Global Fibers Model developed at the Cotton Economics Research Institute at Texas Tech University was used to generate 10-year projections of cotton and textile production, mill use, and trade for 24 countries/regions under specified assumptions for macroeconomic variables, weather, and policies/programs, referred to as the baseline. Global results and results for selected major countries are presented here. Results indicate a continued dominance of China in textile production and cotton trade, rising global production of cotton, and shifting cotton export market shares, with the U.S. losing and Brazil gaining.
Tipo: Working or Discussion Paper Palavras-chave: Agricultural and Food Policy.
Ano: 2006 URL: http://purl.umn.edu/53169
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Assessing the Impacts of the Chinese TRQ System and U.S. Subsidies on the World Cotton Market: Technical Annex AgEcon
Pan, Suwen; Welch, Mark; Mohanty, Samarendu; Fadiga, Mohamadou L.; Ethridge, Don E..
This document is the technical annex to the full paper "Assessing the Impacts of the Chinese TRQ System and U.S. Subsidies on the World Cotton Market" which is available separately.
Tipo: Journal Article Palavras-chave: International Relations/Trade.
Ano: 2005 URL: http://purl.umn.edu/23884
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Annual Report on Cotton Economics Research 2002/03 AgEcon
Lovelace, Lauren; Ethridge, Don E..
Tipo: Working or Discussion Paper Palavras-chave: Crop Production/Industries.
Ano: 2003 URL: http://purl.umn.edu/31243
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Chinese Tariff Rate Quota v.s. U.S. Subsidies: What Affects the World Cotton Market More? AgEcon
Pan, Suwen; Welch, Mark; Mohanty, Samarendu; Fadiga, Mohamadou L.; Ethridge, Don E..
Paper replaced with new version 8/17/05
Tipo: Conference Paper or Presentation Palavras-chave: Cotton; International trade; Subsidies; TRQ; International Relations/Trade; Q11; Q17.
Ano: 2005 URL: http://purl.umn.edu/19111
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THE IMPLICATIONS OF AN EXPORT TAX ON SECTORAL GROWTH: A CASE IN PAKISTAN AgEcon
Hudson, Darren; Ethridge, Don E..
Impacts of an export tax on growth in the cotton and yarn markets were examined. Results of a simulation show that the export tax on raw fiber decreased the rate of growth in the fiber sector by 80%, and also decreased growth in yarn production by 0.7%.
Tipo: Conference Paper or Presentation Palavras-chave: Crop Production/Industries; International Relations/Trade.
Ano: 1998 URL: http://purl.umn.edu/20986
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The Impacts of Eliminating Step 2 Program on the U.S. and World Cotton Market AgEcon
Mohanty, Samarendu; Pan, Suwen; Welch, Mark; Ethridge, Don E..
Brazil made a formal complaint to the World Trade Organization (WTO) Dispute Settlement Panel against U.S. cotton programs in 2003, alleging that these subsidies depressed world cotton price and were injurious to Brazilian farmers. The petition was supported by Australia and West and Central African cotton producing countries. After long deliberations, the WTO appellate body came out with their final ruling in March 2005 that upheld most of the initial decisions of the WTO Dispute Settlement Panel. In addition to the finding of serious price suppressing effects of U.S. cotton programs during the period 1999/00-2002/03, the ruling also included a June 30, 2005 deadline to withdraw Step 2 and export credit guarantee programs. In an attempt to comply with the...
Tipo: Report Palavras-chave: Agricultural and Food Policy.
Ano: 2005 URL: http://purl.umn.edu/53148
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A MARKOV CHAIN ANALYSIS OF STRUCTURAL CHANGES IN THE TEXAS HIGH PLAINS COTTON GINNING INDUSTRY AgEcon
Ethridge, Don E.; Roy, Sujit K.; Myers, David W..
Markov chain analysis of changes in the number and size of cotton gin firms in West Texas was conducted assuming stationary and non-stationary transition probabilities. Projections of industry structure were made to 1999 with stationary probability assumptions and six sets of assumed conditions for labor and energy costs and technological change in the non-stationary transition model. Results indicate a continued decline in number of firms, but labor, energy, and technology conditions alter the configuration of the structural changes.
Tipo: Journal Article Palavras-chave: Crop Production/Industries.
Ano: 1985 URL: http://purl.umn.edu/29968
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2007 Global Cotton Outlook AgEcon
Ethridge, Don E.; Mohanty, Samarendu; Pan, Suwen; Fadiga, Mohamadou L.; Welch, Mark; Yates, Samantha.
Economic Fundamentals - Real GDP growth is projected to be stable at about 2.5% per year in developed countries and be around 5% in developing nations. A more favorable exchange rate between China’s currency and the U.S. dollar may make U.S. cotton more affordable to China’s growing cotton textile industry.
Tipo: Report Palavras-chave: Agricultural and Food Policy.
Ano: 2007 URL: http://purl.umn.edu/53155
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2006 Global Cotton Outlook AgEcon
Mohanty, Samarendu; Pan, Suwen; Welch, Mark; Fadiga, Mohamadou L.; Ethridge, Don E..
Tipo: Report Palavras-chave: Agricultural and Food Policy.
Ano: 2006 URL: http://purl.umn.edu/53154
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