New Economics Papers
on Agricultural Economics
Issue of 2008‒12‒01
33 papers chosen by
  1. Evaluating Economic and Environmental Benefits of Soil and Water Conservation Measures Applied in Missouri By Benson, Verel
  2. Expanding the Focus of Cost-Benefit Analysis for Food Safety: A Multi-Factorial Risk Prioritization Approach By Caswell, Julie A.
  3. Global agricultural market trends and their impacts on European Union agriculture By Von Witzke, Harald; Noleppa, Steffen; Schwarz, Gerald
  4. Biofuels: Impact of Selected Farm Bill Provisions and other Biofuel Policy Options By Westhoff, Pat; Thompson, Wyatt; Meyer, Seth
  5. Upper White Watershed Integrated Economic and Environmental Management Project By Benson, Verel
  6. Baseline Update for US Agricultural Markets: Projections for agricultural and biofuels markets By Westhoff, Pat; Brown, Scott
  7. National Policy Efforts by Commodity and General Farm Operations: Background Information and Comparitive Statistics By Wilcox, Lori; Carpenter, Brent
  8. Water Leasing: Opportunities and Challenges for Colorado's South Platte Basin By Pritchett, James; Thorvaldson, Jennifer; Hansen, Neil; Jha, Ajay
  9. Understanding Persistent Food Insecurity: A Paradox of Place and Circumstance By Mammen, Sheila; Bauer, Jean W.; Richards, Leslie
  10. The Food Crisis and its Impacts on Poverty in Senegal and Mali: Crossed Destinies By Dorothée Boccanfuso; Luc Savard
  11. Ex-ante Policy Assessment from an Institutional Perspective. A Procedure for Institutional Compatibility Assessment (PICA) By Theesfeld, Insa; Schleyer, Christian; Callois, Jean-Marc; Aznar, Oliver
  12. A New Look at the Agricultural Community as Extension Clientele in the West By Tranel, Jeffrey E.; Hewlett, John P.; Weigel, Randolph; Rahman, Tauhider; Teegerstrom, Trent; Ehmke, Cole
  13. Buying Ecological Services: Nature's Harmonies, Fragmented Reserves and the Agricultural Extensification Debate By David A. Hennessy; Harvey E. Lapan
  14. Quarterly Earnings Estimates for Publicly Traded Agribusinesses: An Evaluation By Manfredo, Mark; Sanders, Dwight; Scott, Winifred
  15. Controlling Greenhouse Gas Emissions by means of Tradable Emissions Permits and the Implications for Irish Farmers By Breen, James P.
  16. BEHAVIOURS OF CONSERVATION ORGANIZATIONS AND THEIR ENVIRONMENTAL IMPLICATIONS. Analysis based on New (and not so new) Institutional Economics By Tisdell, Clem
  17. The Benefits and Costs of Proliferation of Geographical Labelling for Developing Countries By Anders, Sven; Caswell, Julie A.
  18. Price trends in India and their implications for measuring poverty By Angus Deaton
  19. Washington Biofuel Feedstock Supply under Price Uncertainty By Zheng, Qiujie; Shumway, C. Richard
  20. Transportation and Quality Adjusted Basis: Does the Law of One Price Hold for Feeder Cattle? By Feuz, Dillon M.; Harris, Chad; Bailey, DeeVon; Halverson, Gary
  21. REFORMING THE CAP: AN AGENDA FOR REGIONAL GROWTH? By Esposti, Roberto
  22. Securitizing peanut production risk with catastrophe (CAT) bonds By Epperson, James E.
  23. Improving Feeder Cattle Basis Forecasts By Dhuyvetter, Kevin C.; Swanser, Kole; Kastens, Terry; Mintert, James; Crosby, Brett
  24. Weather, Technology, and Corn and Soybean Yields in the U.S. Corn Belt By Tannura, Michael A.; Irwin, Scott H.; Good, Darrel L.
  25. Consumer preferences and labelling: an empirical analysis of the beef sector in Italy By Banterle, A.; Stanieri, S.
  26. Valuing Changes in Forest Biodiversity By Czajkowski, Mikołaj; Buszko-Briggs, Małgorzata; Hanley, Nick
  27. Bio-energy from Mountain Pine Beetle Timber and Forest Residuals: The Economics Story By Kurt Niquidet; Brad Stennes; G.Cornelis van Kooten
  28. The Adequacy of Speculation in Agricultural Futures Markets: Too Much of a Good Thing? By Sanders, Dwight R.; Irwin, Scott H.; Merrin, Robert P.
  29. Preferential Cattle and Hog Pricing by Packers: Evidence from Mandatory Price Reports By Ward, Clement E.
  30. Mandatory Livestock Price Reporting, Market Transparency and Grid Price Dispersion By Fausti, Scott W.; Qasmi, Bashir A.; Li, Jing; Diersen, Matthew A.
  31. Cost and Benefit Analysis of a Preconditioning Feeder Calf Program By Donnell, Jeri; Ward, Clement E.
  32. The Impact of Generic-Orange Juice Advertising By Brown, Mark G.
  33. The Future Role of the U.S. in World Dairy Markets By Dobson, William
  1. By: Benson, Verel
    Abstract: This study used a combination of methods to evaluate the value of Missouri's Department of Natural Resources (MODNR)conservation programs for the affected regional economies.
    Keywords: Agricultural and Food Policy, Environmental Economics and Policy,
    Date: 2008–08
    URL: http://d.repec.org/n?u=RePEc:ags:faprre:44774&r=agr
  2. By: Caswell, Julie A.
    Abstract: A pressing need in the area of food safety is a tool for making overall, macro judgments about which risks should be given priority for management. Governments often seek to base this prioritization on public health impacts only to find that other considerations also influence the prioritization process. A multi-factorial approach formally recognizes that public health, market-level impacts, consumer risk preferences and acceptance, and the social sensitivity of particular risks all play a role in prioritization. It also provides decision makers with a variety of information outputs that allow risk prioritization to be considered along different dimensions. Macro-level prioritization of risks based on multiple factors is an important expanded use of cost-benefit analysis to manage risk.
    Keywords: cost-benefit analysis, food safety, risk prioritization, Agricultural and Food Policy, Food Consumption/Nutrition/Food Safety, Risk and Uncertainty, I18, L51, Q18, K32, H11,
    Date: 2008–07
    URL: http://d.repec.org/n?u=RePEc:ags:umamwp:42131&r=agr
  3. By: Von Witzke, Harald; Noleppa, Steffen; Schwarz, Gerald
    Abstract: The economic, political and climatic conditions in which farmers around the world have to make their production and investment decisions are changing dramatically. This study analyses the driving forces of changes in agricultural world markets and their implications for European Union agriculture for the time period 2003/05 - 2013/15. The impacts on European Union agriculture are quantified using of a multi-market-model. The mega-trend of declining world market prices has ended. Since the turn of the millennium world market prices for agricultural goods have been increasing. This trend can be expected to continue. Not only will prices have a tendency to increase, but also fluctuations of agricultural world market prices are likely to be higher in the future than they have been in the past. The reason for the positive trend in agricultural world market prices is that global demand growth outstrips the growth in global supply, and this trend will continue in the foreseeable future. The global demand for food will continue to grow mainly for two reasons. One is the continued growth in world population; the other is the sustained growth in per capita incomes in developing and newly industrialised countries, with corresponding increase of per capita food consumption. Global food supply will have difficulty keeping pace with the growth in demand. A key factor is that the globally available agricultural land is limited in scale. Consequently, to meet the needs of the rapidly growing world population the necessary production growth will have to a large extent be met by a rise in productivity on the land already being farmed today. However, this will be difficult to accomplish as global agricultural productivity growth has been in decline since the Green Revolution of the 1960s and 1970s. Moreover, the rapid expansion of bio-energy production diverts agricultural land and other inputs away from food production. In addition, increasing water scarcity is starting to act as a constraint to production growth, and climate change is also beginning to affect production. The quantitative results of the analysis for key crops demonstrates that, both in the European Union and globally, agricultural demand will grow faster than supply during the time period 2003/05 - 2013/15. European Union demand for grains can be expected to increase by 10-20 percent and by more than 50 percent in oilseeds. However, European Union supply of wheat and other grains can only be expected to increase by less than 10 percent, corn by 15-20 percent, and oilseeds by more than 30 percent. As a consequence, the price of wheat can be expected to increase by more than 10 percent and the price of corn and oilseeds by more than 30 percent. With regard to the trade balance, the net trade position of European Union agriculture can be expected to deteriorate. While there would be a reduction in net imports of corn, net imports of oilseeds are expected to increase by more than 70 percent. Moreover, it is foreseeable that for wheat the European Union will switch from being a net exporter to a net importer. The same is true for other grains. Two additional aspects warrant further considerations. These are achieving world food security and combating global warming. For the world€ٳ poor, increasing food prices may become a matter of survival. The results of the analysis confirm that the developing countries will not even come close to securing food supply for their rapidly growing population through domestic production, even under the best of all realistic scenarios. Consequently, the increasing food import needs of developing countries can only be met if the industrialised countries produce more and export more food. However, growth in bio-energy production in the European Union will let the region revert back to a net importing position in wheat, and it will have to increase imports of oilseeds. This will reduce the European Union€ٳ ability to help in the fight against starvation in the world, unless there would be an increase in agricultural productivity beyond what is anticipated in this analysis. Climate change is now widely accepted as a fact, and human activity is a contributing factor. While probably not being of major importance during the time period considered in this study, world agriculture will be affected by global warming in the long run. On balance, world food production will be negatively affected as a consequence of climate change. Climate change and the associated additional increase in world food prices will amplify hunger and malnutrition in developing countries. Food production will decline predominantly in the countries which are already characterised by increasing food import needs. These countries are also those that are unable to make the necessary investment in agricultural research to adapt food production to the changing climate and to cope with increase in demand. Higher food prices will also increase the incentives for deforestation in order to claim additional farm land. Deforestation however, is one of the most important causes of global warming. In the global picture, the European Union will be less affected by climate change. It may even benefit. Europe will become a more secure production location in comparison to other world regions. Consequently, it has to take responsibility to significantly contribute to world food security and also to combat global warming by utilising its production potential. To avoid negative repercussions and to fully capitalise on its production potential, it is imperative that the European Union employs strategies which increase overall agricultural productivity on the available agricultural land. Zusammenfassung In diesem Beitrag werden die Bestimmungsfaktoren der Entwicklungen auf den Weltagrarmärkten untersucht und deren Auswirkungen auf die EU Landwirtschaft für den Zeitraum 2003/05 - 2013/15 quantifiziert. Dabei zeigt sich, dass die weltweite Nachfrage nach Agrargütern stärker steigt als das Angebot, so dass der Trend der Weltagrarpreise positiv ist. Die gegenwärtig (Mai 2008) sehr hohen Preise werden indes nicht von Dauer sein. Vielmehr ist mittelfristig mit einem eher moderaten Preisanstieg von etwa 15-30 % im Untersuchungszeitraum zu rechnen. Bei Weizen und anderem Getreide (außer Mais) wird die Europäische Union wieder zu einem Nettoimporteur. Die zu erwartenden Entwicklungen auf den Weltagrarmärkten und die dadurch steigenden Preise für Nahrungsgüter werden zu einer ernsthaften Verschärfung der Welternährungslage führen. Da die Flächen, die weltweit für die Nahrungsgüterproduktion verfügbar sind, begrenzt sind, muss die Steigerung des Angebots, die notwendig ist, um die rasch wachsende Weltbevölkerung in hinreichendem Umfang mit Nahrungsgütern zu versorgen, weitgehend über eine Steigerung der Produktivität derjenigen Flächen erreicht werden, die bereits heute landwirtschaftlich genutzt werden. Eine Steigerung der Produktivität in der Weltlandwirtschaft führt zu geringeren Nahrungsgüterpreisen. Sie verringert daher auch die Anreize auf dem Weg der Brandrodung zusätzliche landwirtschaftliche Nutzflächen zu erschließen. Gegenwärtig tragen diese Brandrodungen 18 % zum anthropogenen Klimawandel bei. Dies ist mehr als der Klimaeffekt der weltweiten Industrieproduktion. Damit ist das landwirtschaftliche Produktivitätswachstum nicht nur zentral im Kampf gegen den Hunger auf der Welt, sondern es leistet auch einen wichtigen Beitrag zur Verringerung des Klimawandels.
    Keywords: World agriculture, food security, climate change, agriculture productivity growth, Weltlandwirtschaft, Sicherung der Welternährung, landwirtschaftliches Produktivitätswachstum, International Relations/Trade,
    Date: 2008
    URL: http://d.repec.org/n?u=RePEc:ags:huiawp:6276&r=agr
  4. By: Westhoff, Pat; Thompson, Wyatt; Meyer, Seth
    Keywords: Agricultural and Food Policy, Resource /Energy Economics and Policy,
    Date: 2008–06
    URL: http://d.repec.org/n?u=RePEc:ags:faprre:37772&r=agr
  5. By: Benson, Verel
    Abstract: This report outlines enhanced existing local cooperative water quality efforts, sumarizes economic and physical data, and discusses how that information was used to develop analytical models.
    Keywords: Agricultural and Food Policy, Public Economics,
    Date: 2008–09
    URL: http://d.repec.org/n?u=RePEc:ags:faprre:44514&r=agr
  6. By: Westhoff, Pat; Brown, Scott
    Abstract: This document serves as a mid-year update to the 2008 FAPRI baseline prepared in January 2008. It reflects market developments and incorporates estimate information available in early August 2008.
    Keywords: Agricultural and Food Policy,
    Date: 2008–09
    URL: http://d.repec.org/n?u=RePEc:ags:faprre:42906&r=agr
  7. By: Wilcox, Lori; Carpenter, Brent
    Abstract: This report provides background information for major US agricultural commodities, comparative statistics for nine US commodity and general farm organizations, as well as emerging themes related to interviews with each of the organizations related to how policy is pursued.
    Keywords: Agricultural and Food Policy,
    Date: 2008–02
    URL: http://d.repec.org/n?u=RePEc:ags:faprre:37796&r=agr
  8. By: Pritchett, James; Thorvaldson, Jennifer; Hansen, Neil; Jha, Ajay
    Abstract: Agricultural water is a preferred source for meeting growing demands, but permanent transfers often require formerly irrigated land to be fallowed, removing a key industry from the regional economy. One alternative allows farmers to lease water to cities by fallowing their land on a rotational basis or limiting irrigation to reduce the consumptive use of their cropping operations. A survey of irrigators in Colorado€ٳ South Platte Basin examines the remuneration needed for a farmer to enter into a lease agreement; the amount of water the farmer will release; the provisions desired in a lease agreement; and the characteristics shared by farmers who are willing to lease.
    Keywords: water leases, alternatives to permanent water transfers, economic health of rural communities, Community/Rural/Urban Development,
    Date: 2008
    URL: http://d.repec.org/n?u=RePEc:ags:waeabi:37725&r=agr
  9. By: Mammen, Sheila; Bauer, Jean W.; Richards, Leslie
    Abstract: Survey data from a USDA-funded multi-state longitudinal project revealed a paradox where rural low-income families from states considered prosperous were persistently more food insecure than similar families from less prosperous states. An examination of quantitative and qualitative data found that families in the food insecure states were more likely to experience greater material hardship and incur greater housing costs than families in the food secure states. Families in the food insecure states, however, did not have lower per capita median incomes or lower life satisfaction than those in the food secure states. A wide range of strategies to cope with food insecurity reported by families in both food insecure and food secure states was examined using the Family Ecological Systems Theory. Families in the food insecure states used several risky consumption reduction strategies such as curbing their appetite and using triage. Families in the food secure states, on the other hand, employed positive techniques involving their human capital.
    Keywords: persistent food insecurity, rural low-income families, food coping strategies, Family Ecological systems, material hardship, Agricultural and Food Policy, Community/Rural/Urban Development, Consumer/Household Economics, Financial Economics, Food Security and Poverty, I32,
    Date: 2008–07
    URL: http://d.repec.org/n?u=RePEc:ags:umamwp:42168&r=agr
  10. By: Dorothée Boccanfuso (GREDI, Faculte d'administration, Université de Sherbrooke); Luc Savard (GREDI, Faculte d'administration, Université de Sherbrooke)
    Abstract: In this paper we use a CGE macro-micro modelling approach to analyse the distributional impact of the food crisis and to examine a couple of policy responses in two neighbouring West African countries. Both countries are strongly dependent on agriculture; both have similar climates and share many other features. However, the approach we use captures structural differences at both the macro level and the micro level for household income and expenditure structures. Our results reveal surprising and significant differences for poverty impact at the national and sub-group levels, as well as for inequality and pro-poor analysis. These differences are present for the world price increase of agricultural goods as well as policy responses to the food crisis. Our results highlight the importance of country-specific analysis and the risk of extrapolating conclusions from one country to another.
    Keywords: Impact analysis, computable general equilibrium modeling, food crisis, Africa
    JEL: D58 I32 O57 Q18 R13
    Date: 2008
    URL: http://d.repec.org/n?u=RePEc:shr:wpaper:08-20&r=agr
  11. By: Theesfeld, Insa; Schleyer, Christian; Callois, Jean-Marc; Aznar, Oliver
    Abstract: Ex-ante impact assessment of agricultural, environmental, and rural policies has become an integral part of political decision making processes in the EU. While there is a large variety of agri-environmental modelling tools available to analyse likely social, economic, and environmental impacts of these policies, scientifically well-founded ex-ante policy assessment tools capturing institutional dimensions are still missing. In this paper, we introduce a formalised procedure for modelling €Ӡex-ante €Ӡinstitutional aspects for policy implementation: the €Ørocedure for Institutional Compatibility Assessment€٠(PICA). It has recently been developed within the SEAMLESS project as a component of an integrative modelling framework for ex-ante assessment of policy impacts on sustainable development. PICA is based on the assumption that the effectiveness of a policy and the cost-effectiveness of its implementation largely depend on the degree of compatibility between this policy and the institutional context in the respective countries and regions. It has been designed as an explorative and flexible, yet formalised methodology that enables policy makers to identify at an early stage potential institutional incompatibilities. After providing a brief overview of relevant approaches for policy assessment we elaborate on the four distinct steps of PICA and use a core element of the EU Nitrate Directive to illustrate its function.
    Keywords: Ex-ante Policy Assessment, Institutional Policy Assessment, Agricultural and Food Policy, Institutional and Behavioral Economics, Research Methods/ Statistical Methods, B49, D78, Q18,
    Date: 2008
    URL: http://d.repec.org/n?u=RePEc:ags:huiain:6112&r=agr
  12. By: Tranel, Jeffrey E.; Hewlett, John P.; Weigel, Randolph; Rahman, Tauhider; Teegerstrom, Trent; Ehmke, Cole
    Abstract: This report presents the preliminary results of a statistically valid 2006 survey of small agricultural producers (sales of less than $50,000) in three Western states (Wyoming, Colorado and Arizona). The West has undergone significant change, and the composition of farm managers has changed with it. This report provides information from farm operators in the rural West on their perceived threats as well as characteristics of themselves and their operations. Topics of interest were demographics, reasons for involvement in agriculture, income, resource management (crops and livestock), and preferences for information delivery. The project was supported by the Western Center for Risk Management Education.
    Keywords: small farm, extension, West, Arizona, Colorado, Wyoming, Community/Rural/Urban Development, Crop Production/Industries, Farm Management, Labor and Human Capital, Land Economics/Use, Livestock Production/Industries, Teaching/Communication/Extension/Profession,
    Date: 2008–06
    URL: http://d.repec.org/n?u=RePEc:ags:uwycep:37721&r=agr
  13. By: David A. Hennessy (Center for Agricultural and Rural Development (CARD)); Harvey E. Lapan
    Abstract: Growing demand for cropland products has placed intense pressure on the ability of land resources to support nature, straining public budgets to purchase environmental goods. Fixing overall agricultural output, two policy options are whether to promote more extensive and nature friendly farming practices or to produce intensively on some land and leave the rest wild. Microeconomic models of the topic have not accommodated widely recognized complementary spatial externalities in providing ecological services. This article does so, identifying also a third policy possibility. This is that environmental services can follow a smoothly varying spatial path characterized by harmonic functions.
    Keywords: biofuels, environmental policy, spatial externalities, Wirtinger's inequality.
    JEL: H40 Q28 D62
    Date: 2008–11
    URL: http://d.repec.org/n?u=RePEc:ias:cpaper:08-wp482&r=agr
  14. By: Manfredo, Mark; Sanders, Dwight; Scott, Winifred
    Abstract: Decisions made by publicly traded agribusinesses impact suppliers, processors, farmers, and even rural communities. Professional analysts€٠estimates of earnings per share (EPS) provide a unique source of information regarding firm-level financial performance. Incorporating a battery of tests, this research examines the forecast properties of consensus analysts€٠EPS estimates reported in the Institutional Brokers Estimate System for a sample of publicly traded food companies. While the results are mixed among firms, they suggest 1) analysts forecasts are largely unbiased but inefficient, and may not encompass information in simple time series models, and 2) EPS may be becoming more difficult to estimate.
    Keywords: Earnings per share, forecasting, forecast evaluation, Agribusiness, Agricultural Finance, Financial Economics,
    Date: 2008–07
    URL: http://d.repec.org/n?u=RePEc:ags:waeabi:42436&r=agr
  15. By: Breen, James P.
    Abstract: The increasing concern over climate change has led to a number of international agreements to control greenhouse gas emissions. Agriculture currently accounts for 28 percent of Ireland€ٳ total greenhouse gas emission and therefore has a major role to play in Ireland achieving its emissions targets. To date research into reducing emissions from Irish agriculture has focused on devising abatement strategies at the farm level such as changes in animal feeding practices. Alternatively emissions could be controlled using market-based emissions abatement strategies such as emissions taxes or permit trading, which are in theory a least cost means of cutting emissions. This paper uses data from the Irish National Farm Survey to construct a farm-level Linear Programming model and to simulate a market for tradable emission permits. The impact on average gross margin of allowing farmers to reduce greenhouse gas emissions by trading permits is compared with a scenario where emissions are unconstrained and a scenario where a command and control approach is adopted to reduce emissions.
    Keywords: Greenhouse Gas Emissions, Farm-level Modeling, Linear Programming, Irish Agriculture, Environmental Economics and Policy, Farm Management,
    Date: 2008
    URL: http://d.repec.org/n?u=RePEc:ags:eaa107:6498&r=agr
  16. By: Tisdell, Clem
    Abstract: This article draws mostly (but not entirely) on new institutional economics to consider the likely behaviours of non-government conservation organizations and the implications of these behaviours for biodiversity conservation. It considers how institutional factors may result in behaviour of conservation NGOs diverging from their objectives, including their support for biodiversity conservation; examines aspects of rent capture and conservation alliances; specifies social factors that may restrict the diversity of species supported by NGOs for conservation; considers bounded rationality in relation to the operation of conservation NGOs; and using game theory, shows how competition between NGOs for funding can result in economic inefficiencies and narrow the diversity of species supported for conservation. It also considers generally how the social role of conservation NGOs might be assessed.
    Keywords: Australia, biodiversity conservation, bounded rationality, civil society, Common Agricultural Policy, European Union, Landcare, mixed goods, new institutional economics, New Zealand, NGOs, principal-and-agent problem, political acceptability, Environmental Economics and Policy, Institutional and Behavioral Economics, Political Economy, Q00, Q2, Q5, Q57, Z13,
    Date: 2008
    URL: http://d.repec.org/n?u=RePEc:ags:huiain:6185&r=agr
  17. By: Anders, Sven; Caswell, Julie A.
    Abstract: Food product attributes related to geographical origins are a topical issue in global food trade. The provision of geographical labelling may occur through geographical indications under the mandated trade rules of the TRIPS Agreement, trademarks, or country-of-origin labelling. The overall effect of the expansion of geographical labelling on developing countries depends on a complex mix of market opportunities that may yield substantial benefits as well as implementation costs. Increasingly, the analysis of this overall effect will need to evaluate the joint impacts of different forms of geographical labelling on the market position of developing countries.
    Keywords: developing countries, geographical labelling, international trade, TRIPS, Food Consumption/Nutrition/Food Safety, International Development, International Relations/Trade, Marketing, F13, Q13, O19,
    Date: 2008–07
    URL: http://d.repec.org/n?u=RePEc:ags:umamwp:42130&r=agr
  18. By: Angus Deaton (Princeton University)
    Abstract: The Indian national sample surveys collect data on the unit values of a large number of foods which can be used to compute price index numbers that can be compared with the official national price indexes, the Consumer Price Index for Agricultural Labourers (CPIAL) for rural India, and the Consumer Price Index for Industrial Workers (CPIIW) for urban India. Over the five years from 1999–2000 to 2004–05, the food component of the CPIAL understated the rate of food price inflation. This overstatement is likely attributable to the use of long outdated weights (from 1983), and the resultant overweighting of cereals, particularly coarse cereals, whose prices fell relative to other foods. The overall weight of food in the CPIAL is also too large, so that the growth in the general CPIAL was understated during this period when food prices fell relative to nonfood prices. Under conservative assumptions, I calculate that the 5 year growth in the reported CPIAL of 10.6 percent should have been 14.3 percent. Indian poverty lines are held constant in real terms and are updated using the food and non-food components of the official indices weighted by the food shares of households near the poverty line. Because these weights come from a 1973–4 survey, food is heavily over weighted for the contemporary poor, and the nominal poverty lines are understated, both because the CPIAL food index is understated, and because too much weight is assigned to food in a period when food prices have been falling relative to nonfood prices. As a result, and ignoring other problems with the counts (doubtful interstate and intersectoral price indexes and the growing discrepancy between surveys and national accounts), the official poverty counts for rural India in 2004–5 are too low; the official headcount ratio of 28.3 percent should be closer to 31 percent; at current rates of rural poverty reduction, this eliminates more than three years of progress. More generally, it is clear that the weights used for price indexes should be updated more frequently than is presently the case, something that could be straightforwardly done using India’s regular system of household expenditure surveys.
    Date: 2008–01
    URL: http://d.repec.org/n?u=RePEc:pri:rpdevs:1008&r=agr
  19. By: Zheng, Qiujie; Shumway, C. Richard
    Abstract: Biofuels, as alternative transportation fuels, are now being used globally. Taking advantage of in-state feedstock supply is an efficient way to stimulate in-state biofuel industries and the local economy. This paper uses the mean-variance model of utility maximization to estimate supply equations for major biofuel feedstock crops in Washington. We consider price risk, examine the comparative statics results of the model, and use the results to draw important decision-making implications for Washington farmers who are considering production of biofuel feedstocks. Of three potential feedstock crops, only one shows immediate promise in Washington.
    Keywords: biofuel feedstock, price uncertainty, supply, Crop Production/Industries, Production Economics, Risk and Uncertainty,
    Date: 2008
    URL: http://d.repec.org/n?u=RePEc:ags:waeabi:42304&r=agr
  20. By: Feuz, Dillon M.; Harris, Chad; Bailey, DeeVon; Halverson, Gary
    Abstract: Feeder calf prices are examined from a national video auction sales from 2004-2006. Many cattle, lot, and market characteristics significantly impact feeder cattle basis. Auction prices were adjusted for quality differences and for transportation costs and compared across regions. Basis was significantly different after the adjustment from region to region.
    Keywords: feeder cattle prices, law of one price, video auctions, Demand and Price Analysis, Farm Management, Livestock Production/Industries, Marketing,
    Date: 2008–06–27
    URL: http://d.repec.org/n?u=RePEc:ags:waeabi:42311&r=agr
  21. By: Esposti, Roberto
    Abstract: This paper aims at analysing the recent CAP reform from the perspective of the current general and strategic objectives of the EU as defined by the Lisbon Strategy. A critical appraisal of the CAP impact in terms of regional growth is carried out. Firstly from a strictly conceptual and methodological point of view, then by analysing more in detail how CAP reform (of both Pillar I and II) might have actually affected the role of the CAP in promoting (or hindering) regional growth and, therefore, convergence. Empirical evidence provided by the different available methodologies has progressively emerged in the very last years. Though a conclusive answer on the impact of the reform can not be drawn, it still emerges that the role of CAP design and implementation in affecting regional growth and convergence is usually underestimated and often neglected in the discussions about the future of the CAP. At the same time, however, this role is not univocal and strongly case-specific, as it substantially differs across regions according to their socio-economic structure and how reforms are jointly implemented.
    Keywords: Common Agricultural Policy, Regional Growth and Convergence, Lisbon Strategy, Agricultural and Food Policy, Community/Rural/Urban Development, Q180, R110, O410,
    Date: 2008–11–14
    URL: http://d.repec.org/n?u=RePEc:ags:eaa109:44868&r=agr
  22. By: Epperson, James E.
    Abstract: A catastrophe (CAT) bond is designed for peanut production as a means of transferring natural disaster risks from insurance purveyors to the global capital market. The CAT bond so designed is priced using state-level historical yields for peanut production in the southern part of the United States in the State of Georgia. The index triggering the CAT bond contract was based on percent deviation from state average yield. The principal finding of the study is that it appears feasible for crop insurance purveyors to issue insurance-linked securities. CAT bonds can reduce the variance of the loss ratio when issued optimally with regard to the number of bonds and contract specifications. CAT bonds could therefore be used in hedging catastrophic risk effectively in peanut production given that crop insurance purveyors normally seek to minimize the variance of the loss ratio. CAT bonds were found to be feasible as hedging instruments even in the range of normal losses commonly covered by crop insurance and reinsurance.
    Keywords: Insurance, Reinsurance, Pricing, Hedging, Agricultural Finance, Crop Production/Industries, Risk and Uncertainty,
    Date: 2008–10–31
    URL: http://d.repec.org/n?u=RePEc:ags:ugeofs:44512&r=agr
  23. By: Dhuyvetter, Kevin C.; Swanser, Kole; Kastens, Terry; Mintert, James; Crosby, Brett
    Abstract: Forecasting feeder cattle basis has long been difficult because of the myriad factors that influence basis, including input and output prices and lot characteristics. This research draws upon knowledge of the various factors that influence cash feeder cattle prices to develop hedonic feeder cattle basis models. Out-of-sample test results provide strong evidence that these hedonic models predict basis more accurately than the multi-year average forecasting approach commonly used by livestock producers. Results from this research were used to develop a web tool funded by USDA's Risk Management Agency (BeefBasis.com) that producers can use to forecast and understand feeder cattle basis.
    Keywords: basis, basis forecasts, cattle prices, feeder cattle, hedging, price risk management, Agricultural Finance, Demand and Price Analysis, Farm Management, Livestock Production/Industries, Marketing, Risk and Uncertainty,
    Date: 2008–06–27
    URL: http://d.repec.org/n?u=RePEc:ags:waeabi:42302&r=agr
  24. By: Tannura, Michael A.; Irwin, Scott H.; Good, Darrel L.
    Abstract: The purpose of this study was to investigate the relationship between weather, technology, and corn and soybean yields in the U.S. Corn Belt. Corn and soybean yields, monthly temperature, and monthly precipitation observations were collected over 1960 through 2006 for Illinois, Indiana, and Iowa. Multiple regression models were developed based on specifications found in studies by Thompson (1962 1963 1969 1970 1985 1986 1988). Estimated models explained at least 94% and 89% of the variation in corn and soybean yields for each state, respectively. Analysis of the regression results showed that corn yields were particularly affected by technology, the magnitude of precipitation during June and July, and the magnitude of temperatures during July and August. The effect of temperatures during May and June appeared to be minimal. Soybean yields were most affected by technology and the magnitude of precipitation during June through August (and especially during August). Structural change tests were performed on each model to test for changes in any of the regression model parameters. Some breakpoints were identified, but were difficult to explain since the results were not consistent across states and crops. Additional tests for structural change were directed specifically at the trend variable in corn models. The tests did not indicate a notable change in the technology trend for corn since the mid-1990s. Corn and soybean yield forecasts from the regression models on June 1 and July 1 were no more accurate then trend yield forecasts. Regression model forecasts for corn improved on August 1, while model forecasts for soybeans improved by September 1. U.S. Department of Agriculture (USDA) corn and soybean forecasts were always more accurate than those from the regression models. Nonetheless, encompassing tests showed that the accuracy of USDA yield forecasts could be significantly improved by the information contained in regression model forecasts. Across states and forecast months, combining regression model forecasts with USDA forecasts improved accuracy an average of 10% for corn and 6% for soybeans. In sum, this research provided strong evidence that precipitation, temperature, and a linear time trend to represent technological improvement explained all but a small portion of the variation in corn and soybean yields in the U.S. Corn Belt. An especially important finding was that relatively benign weather for the development of corn since the mid-1990s should not be discounted as an explanation for seemingly €ܨigh€ݠyields. The potential impact of this finding on the agricultural sector is noteworthy. Trend yield forecasts based on perceptions of a rapid increase in technology may eventually lead to poor forecasts. Unfavorable weather in the future may lead to unexpectedly low corn yields that leave producers, market participants, and policymakers wondering how such low yields could have occurred despite technological improvements.
    Keywords: Agricultural Finance, Financial Economics, Research Methods/ Statistical Methods,
    Date: 2008–02
    URL: http://d.repec.org/n?u=RePEc:ags:uiucmr:37501&r=agr
  25. By: Banterle, A.; Stanieri, S.
    Abstract: Within the framework of European food safety measures, Reg. 1760/2000 and 1825/2000 have introduced mandatory traceability and relevant labeling into the beef sector. The paper analyses whether information on meat labels can be considered a useful instrument for consumers, facilitating the verification of quality. The purpose of the paper is, first, to evaluate if meat information is used during food purchase. Second, focusing on specific meat information, we assess the interest of consumer for some mandatory and voluntary information cues and identify the determinants affecting the use of them. Data were collected by a survey conducted in the Lombardy, region of the northern Italy, and employed a telephone questionnaire. The sample is composed by 1,025 consumers. We estimate 4 models based on the literature and for all the equations we used a binary logit model. The analyses revealed that meat label is widely used by Italian consumers in the formulation of their purchasing preferences. The use of the meat label is also positively connected to consumer attention towards quality signaling such as certification, expiry date and so on. The origin is confirmed to be an important information for a large part of interviewed. Among the voluntary information the system of cattle breeding is related to a consumer who pays particular attention in general to quality indicators whereas the cattle feeding seems to interest young consumers with high level of education.
    Keywords: traceability, meat, consumer preferences, logit, Demand and Price Analysis,
    Date: 2008
    URL: http://d.repec.org/n?u=RePEc:ags:eaae08:43547&r=agr
  26. By: Czajkowski, Mikołaj; Buszko-Briggs, Małgorzata; Hanley, Nick
    Abstract: The paper offers an innovative approach to valuation of biodiversity. Instead of the prevailing approach of using only one indicator of biodiversity (usually number of species) we provide evidence that it is possible to provide attributes describing complex characteristics of biodiversity based on sound ecological knowledge. We argue that our approach managed to value the multiâ€level changes in the biological diversity, by using the attributes which described structural, species and functional diversity at the same time. Our study shows that it even complex indicators of multiâ€level biodiversity might be successfully communicated to respondents in a comprehensible and meaningful way. The empirical application of the method is provided based on a choice experiment study conducted in BiaÅ‚owieża Forest, Poland. The results underline the importance to use multilevel indicators and question validity of only speciesâ€level indicators. Interestingly, the respondents appreciated passive protection regimes, resulting in preservation of natural ecological processes. In addition, the respondents seemed to be concerned by means, and not only the results of protection programmes. Finally, some conclusions for future applications and policy making are drawn.
    Keywords: Biodiversity; Forests; Valuation; Choice Experiment
    Date: 2008–07
    URL: http://d.repec.org/n?u=RePEc:stl:stledp:2008-17&r=agr
  27. By: Kurt Niquidet; Brad Stennes; G.Cornelis van Kooten
    Abstract: In light of the large volumes of pine killed in the Interior forests in British Columbia by the mountain pine beetle, many are keen to employ forest biomass as an energy source. To assess the feasibility of a wood biomass-fired power plant in the BC Interior it is necessary to know both how much physical biomass might be available over the life of a plant, but also its location because transportation costs are likely to be a major operating cost for any facility. To address these issues, we construct a mathematical programming model of fiber flows in the Quesnel Timber Supply Area of BC over a 25-year time horizon. The focus of the model is on minimizing the cost of supplying feedstock throughout space and time. Results indicate that over the life of the project feedstock costs will more than double, increasing from $54.60/BDt ($0.039/kWh) to $116.14/BDt ($0.083/kWh).
    Keywords: forest economics, biomass and bio-energy, forest pests
    JEL: O13 Q23 Q42
    Date: 2008–11
    URL: http://d.repec.org/n?u=RePEc:rep:wpaper:2008-11&r=agr
  28. By: Sanders, Dwight R.; Irwin, Scott H.; Merrin, Robert P.
    Abstract: The objective of this report is to re-visit the €ܡdequacy of speculation€ݠdebate in agricultural futures markets. The Commodity Futures Trading Commission makes available the positions held by index funds and other large traders in their Commitment of Traders reports. The results suggest that after an initial surge from early 2004 through mid-2005, index fund positions have stabilized as a percent of total open interest. Traditional speculative measures do not show any material changes or shifts over the sample period. In most markets, the increase in long speculative positions was equaled or surpassed by an increase in short hedging. So, even after adjusting speculative indices for index fund positions, values are within the historical ranges reported in prior research. One implication is that long-only index funds may be beneficial in markets traditionally dominated by short hedging. Attempts to curb speculation through regulatory means should be weighed carefully against the potential benefits provided by this class of speculators.
    Keywords: Commitment€ٳ of Traders, index funds, commodity futures markets, Agricultural Finance, Financial Economics,
    Date: 2008–06
    URL: http://d.repec.org/n?u=RePEc:ags:uiucmr:37512&r=agr
  29. By: Ward, Clement E.
    Abstract: Preferential pricing was one of several concerns leading to mandatory price reporting. Seven years of €ܮew€ݠdata from mandatory reports are examined to determine if evidence exists of preferential pricing by packers for fed cattle and slaughter hogs. Weekly data show some alternative marketing methods track closer to cash market prices than others. Some differences can be explained, while others are not as clear. Evidence was found that cash prices lead prices for alternative marketing methods on rising markets but trail them on declining markets.
    Keywords: Alternative marketing arrangements, Cattle, Hogs, Marketing, Meatpacking procurement, Price discovery, Pricing, Livestock Production/Industries, Marketing,
    Date: 2008–06
    URL: http://d.repec.org/n?u=RePEc:ags:waeabi:37989&r=agr
  30. By: Fausti, Scott W.; Qasmi, Bashir A.; Li, Jing; Diersen, Matthew A.
    Abstract: Mandatory livestock price reporting (MPR) was implemented in April 2001. Empirical evidence indicates a significant change in the weekly variability of publicly reported fed cattle grid premiums and discounts occurred after MPR implementation. We evaluated the effect of increased market transparency resulting from implementation of MPR on grid premium and discount dispersion lelvels. Empirical results suggest that increased trransparency is compatible with either an increase or a decrease in dispersion. These results suggest that during the pre-MPR periods, the weekly premium and discount point estimators were derived from a non-representative sample.
    Keywords: fed cattle, grid pricing, market transparency, price dispersion, Demand and Price Analysis, Livestock Production/Industries,
    Date: 2008–06
    URL: http://d.repec.org/n?u=RePEc:ags:waeabi:37833&r=agr
  31. By: Donnell, Jeri; Ward, Clement E.
    Abstract: Objectives were twofold: Determine key factors influencing preconditioning cost and returns; and determine the premium for age and source verified, preconditioned calves sold at a public livestock market. Data provided by the Samuel Roberts Noble Foundation show preconditioning returns depend significantly on number of days preconditioned, average daily gain, and cost of vaccinations, hay, feed, and mineral. Noble Foundation cooperators received a premium for age and source verified, preconditioned feeder cattle when sold at market. Significant coefficients averaged across five sales conclude that Noble Foundation management practices receive a $2.49/cwt premium when compared to all other cattle sold at market.
    Keywords: Cattle, calves, preconditioning, prices, costs, age and source verification, Marketing,
    Date: 2008
    URL: http://d.repec.org/n?u=RePEc:ags:waeabi:42303&r=agr
  32. By: Brown, Mark G.
    Abstract: In this study, the impacts of Florida Department of Citrus (FDOC) orange juice (OJ) advertising on U.S., OJ demand and the price received by Florida growers are examined.
    Keywords: Florida orange juice, advertising impacts, Agribusiness, Demand and Price Analysis,
    Date: 2008–05
    URL: http://d.repec.org/n?u=RePEc:ags:fdcr08:36817&r=agr
  33. By: Dobson, William
    Abstract: U.S. dairy companies became more important exporters beginning in the mid-2000s when international and domestic developments changed the economic environment facing the U.S. dairy industry. This paper looks at five U.S. dairy firms and how their domestic and international strategies will influence the size of the U.S. dairy industry's dairy exports and foreign direct investment in dairy-food businesses.
    Keywords: U.S. Dairy Exports, International Diary Industry, Demand and Price Analysis, International Development, International Relations/Trade,
    Date: 2008
    URL: http://d.repec.org/n?u=RePEc:ags:uwmbdp:37245&r=agr
General information on the NEP project can be found at https://nep.repec.org. For comments please write to the director of NEP, Marco Novarese at <director@nep.repec.org>. Put “NEP” in the subject, otherwise your mail may be rejected.
NEP’s infrastructure is sponsored by the School of Economics and Finance of Massey University in New Zealand.
This page is being maintained by Thomas Krichel. It was last updated on 2024‒05‒02 at 13:07.