With 16 years of daily lumber futures prices, we study the effects of different types of information releases: (1) monthly housing starts estimates, (2) aperiodic administrative and judicial announcements about U.S.-Canada trade disputes, and (3) novel and unprecedented court decisions related...

In his 1973 paper, Steven Cheung discredited the "fable of the bees" by demonstrating that markets for beekeeping services exist and that they function well. Although economists heeded Cheung's lessons, policy makers did not. The honey program�-the stated purpose of which was to promote the...