An agricultural projection and greenhouse gas model are used to assess the impact of global cropland expansion on carbon emissions and the sensitivity of those estimates to modifications in assumptions concerning idle cropland, the degree of refinement in carbon coefficients, market responses,...

We quantify the emergence of biofuel markets and its impact on world agriculture using the multimarket, multicommodity international FAPRI model. The model incorporates trade-offs between biofuel, feed, and food production and consumption and international feedback effects of the emergence...

Even with a normalized and standardized biofuel shock, the wide range of land-use change estimates and their associated greenhouse gas (GHG) emissions have raised concern on the adequacy of existing agricultural models in this new area of analysis. In particular, reducing bias and improving...

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...