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| McNew, Kevin; Fackler, Paul L.. |
| Cointegration methods are increasingly used to test for market efficiency and integration. The economic rationale for these tests, however, is generally unclear. Using a simple spatial equilibrium model to simulate equilibrium price behavior, it is shown that prices in a well-integrated, efficient market need not be cointegrated. Furthermore, the number of cointegrating relationships among prices is not a good indicator of the degree to which a market is integrated. |
| Tipo: Journal Article |
Palavras-chave: Demand and Price Analysis. |
| Ano: 1997 |
URL: http://purl.umn.edu/30853 |
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| Fackler, Paul L.. |
| The major mechanisms for the transference of price and output risk by crop producers are examined. These include the use of futures and options contracts, government price-support and deficiency-payments programs, and crop insurance. Iso-revenue curves are used to highlight the distinctions between these alternatives. |
| Tipo: Journal Article |
Palavras-chave: Demand and Price Analysis. |
| Ano: 1989 |
URL: http://purl.umn.edu/30107 |
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| Livingston, Michael J.; Carlson, Gerald A.; Fackler, Paul L.. |
| Since cotton producers do not own legal rights to kill insect populations that are susceptible to insecticides, individual producers may have no incentive to account for future, insecticide-resistance productivity losses arising from their pest-management decisions. As a result, the collective actions of producers may increase the rate of resistance development relative to the rate that maximizes social welfare. Concerns regarding insect-pest development of resistance to Bt cotton prompted the Environmental Protection Agency to establish legal limits on the proportion of total acres individual producers may plant, representing the first attempt to regulate the development of insecticide resistance and the first instance of the use of refuge as a policy... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Agricultural and Food Policy. |
| Ano: 2000 |
URL: http://purl.umn.edu/21850 |
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