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| Rucker, Randal R.; Thurman, Walter N.; Yoder, Jonathan K.. |
| With 16 years of daily lumber futures prices, we study the effects of different types of information releases: (1) monthly housing starts estimates, (2) aperiodic administrative and judicial announcements about U.S.-Canada trade disputes, and (3) novel and unprecedented court decisions related to the Endangered Species Act (ESA). The information releases are different in ways that predict their relative speeds of impoundment in prices. We test the predictions using a new event study methodology appropriate to relatively slowly evolving information events. We find that housing starts are absorbed more quickly than trade events, which are absorbed more quickly than ESA events. |
| Tipo: Working or Discussion Paper |
Palavras-chave: Demand and Price Analysis. |
| Ano: 2001 |
URL: http://purl.umn.edu/29152 |
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| Chvosta, Jan; Rucker, Randal R.; Thurman, Walter N.. |
| The U.S. peanut program has limited peanut production since 1949. Unlike the programs for grains, cotton, and rice, the 1996 FAIR Act left the peanut program largely intact. As before FAIR (and since 1977) the right to grow peanuts for the domestic edible market is embodied in marketing quota, which can be leased and sold. The FAIR Act for the first time allowed quota movement across county lines. We now have four years of experience with peanut quota markets post-FAIR. In some parts of the country, quota has moved as much as the regulatory caps allow. But in most of the traditional peanut-growing areas of the Southeast there has been little cross-county movement. In this paper we analyze a large county-level panel of pre- and post-FAIR data to... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Agricultural and Food Policy. |
| Ano: 2001 |
URL: http://purl.umn.edu/20557 |
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| Muth, Mary K.; Rucker, Randal R.; Thurman, Walter N.; Chuang, Ching-Ta. |
| In his 1973 paper, Steven Cheung discredited the "fable of the bees" by demonstrating that markets for beekeeping services exist and that they function well. Although economists heeded Cheung's lessons, policy makers did not. The honey program-the stated purpose of which was to promote the availability of pollination servicesoperated for almost 50 years, supporting the price of honey through a variety of mechanisms. Its effects were minor before the 1980s but then became important with annual government expenditures near $100 million for several years. Reforms of the program in the late 1980s reduced its market effects and budget costs, returning it to its original role as a minor commodity program. The 1996 Farm Bill formally eliminated the honey... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Agricultural and Food Policy. |
| Ano: 2001 |
URL: http://purl.umn.edu/29153 |
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| Rucker, Randal R.; Thurman, Walter N.; Burgett, Michael. |
| Pollination by honeybees plays an important role in modern agriculture. Some crops are greatly dependent on honeybees (almonds, apples, avocados, blueberries, and cherries are examples) while the yields and quality of other crops are significantly enhanced by honeybee pollination. The importance of understanding pollination markets has increased recently due to changes brought on by the twin scourges of Varroa and tracheal mites. Both are infestations of feral and domestic bees that imply greater future reliance on domesticated bees at higher cost. In the United States a complex market has evolved that connects itinerant beekeepers and their bee colonies with farmers who demand their services. While the fields of entomology and crop science have... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Marketing. |
| Ano: 2001 |
URL: http://purl.umn.edu/20547 |
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