Shi, Wei; Irwin, Scott H.; Good, Darrel L.; Hagedorn, … - Agricultural and Applied Economics Association - AAEA - 2004
The cost of forward contracting corn is estimated with weekly pre-harvest forward bases for seven regions of Illinois from 1975 to 2002. Given the panel structure of the forward basis dataset, we extend Townsend and Brorsen's univariate unit root model for forward bases to a panel unit root...