This study evaluates the impact of six genetically modified corns on swine and poultry feed costs and on the use of traditional feed ingredients. A Brill linear programming model was used to calculate least-cost feed rations for broilers, layers, tom turkeys, 8-13 pound pigs and finisher hogs....

High oil corn (HOC) is a genetically enhanced variety of corn that is gaining popularity as a commercial feed ingredient. HOC has an enlarged germ and contains higher levels of crude oil, protein, and amino acids than conventional corn. To capture the increased feed benefits of HOC, it must...

The two leading explanations for the counterintuitive behavior of interest rates during the Greenback Era (1862–1878) – the resumption expectations model of Calomiris (1988) and the capital flow argument of Friedman and Schwartz (1963) – are inconsistent with each other in...

This paper empirically investigates the determinants of citations based on the publicationof the top 100 most often cited economists. The effects of publication age and author fame onsubsequent citations are found to be positive and significant. Citations are also significantly affectedby...

The remarkable expansion of global wind power capacity in many countries brings forward several key economic questions regarding the performance of impacted electricity markets. Wind forecast uncertainties and rules that penalize scheduling deviations often discourage wind energy producers from...

Cointegration is tested between organic and conventional corn and soybean markets in several locations throughout the U.S. using a unique data set. Organic prices are found to behave like pure jump processes rather than diffusions. A simple specification for pure jump processes is introduced and...

The model of Bates specifies a rich, flexible structure of stock dynamics suitable for applications in finance and economics, including valuation of derivative securities. This paper analytically derives a closed-form expression for the joint conditional characteristic function of a...

This paper proposes a new approach to estimate the idiosyncratic volatility premium. In contrast to the popular two-pass regression method, this approach relies on a novel GMM-type estimation procedure that uses only a single cross-section of return observations to obtain consistent estimates....