This study examines Japanese retail price reactions to the 2001 bovine spongiform encephalopathy (BSE) discovery, the 2000 outbreak of foot and mouth disease (FMD), and the 1996 E. coli food poisoning events. Historical decomposition of retail-level price series aids in explaining the behavior...

This article's focus is on the time adjustment paths of the exchange rate and prices in response to unanticipated monetary shocks. First, we expand the theoretical specification of the overshooting hypothesis by generalizing Dornbusch's model to include a third sector (i.e., agricultural...

The focus of this study is the effects of exchange rate, commodity price, and ocean freight cost risks on import demand with forward-futures markets. The case of U.S. and Brazilian soybeans is analyzed empirically using monthly data. A two-way error component two-stage least squares procedure...

This article addresses the dynamic impact of the 2003 Bovine Spongiform Encephalopathy discovery on the U.S. beef sector. Time series analysis and historical decomposition with weekly feedlot, wholesale, and retail beef price series is used to address the dynamics of price adjustment and...

U.S. Department of Agriculture's Dairy Options Pilot Program promoted hedging by producers, and was a test case for similar programs in other agricultural industries. Rapidly shifting milk pricing policies impeded quantitative hedging evaluations while the program was active. Hedging appears...