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| Yang, Juan; Mitchell, Paul D.; Gray, Michael E.; Steffey, Kevin L.. |
| We describe four recently developed panel data estimators for unbalanced and nested data, a common problem for economic and experimental data. We estimate a western corn rootworm damage function with each estimator, including separate parameters for random effects from year, location, and experimental errors. We then use each estimator to assess the cost of the western corn rootworm soybean variant and the net benefit of soil insecticide and Bt corn for controlling this pest. At current prices, we find that soil insecticide generates a net loss ranging about $0.50-$3.25/ac, while Bt corn generates a net benefit ranging $2.50-$7.00/ac. |
| Tipo: Working or Discussion Paper |
Palavras-chave: Research Methods/ Statistical Methods. |
| Ano: 2007 |
URL: http://purl.umn.edu/92127 |
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| Bessler, David A.; Leatham, David J.; Yang, Juan. |
| The bank lending channel states that changes in monetary policy cause changes in bank loans thus causing changes in real income. This implies the Federal Reserve can influence real income by controlling the level of intermediated loans. We apply a new method to test for an operative bank lending channel in the transmission mechanism of monetary policy. Combining an error correction model with directed acyclic graphs, we explore the existence of a bank lending channel and the effectiveness of U.S. monetary policy since 1960. This paper shows when an operative bank lending channel existed, explains its impact, and evaluates other channels of monetary policy. |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Financial Economics. |
| Ano: 2005 |
URL: http://purl.umn.edu/19558 |
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