This paper argues that under a commercial export milk program the market value of quota will be determined by the spread between the domestic market price and the export price rather than the conventional wisdom that it is determined by the spread between the domestic milk price and the marginal...

Cost effective disease control on the dairy farm can enhance productivity and subsequently profitability. Previous economic studies on animal disease have focused on production losses and evaluation of disease eradication programs and provided little guidance as to the optimal prevention action....

Using data from the Canadian Survey of Labour and Income Dynamics (SLID) for the period 1993-1996, we examine patterns and determinants of labour force transitions of adequately employed and underemployed workers in an attempt to explore whether employment dynamics significantly differ between...

The upheaval in the global food market involving the dramatic increases in crop prices and riots prompted by unaffordable food to many of the world’ s poorest has placed agriculture back in the public eye. Questions are being raised surrounding what has happened, why, and what can be done....

This report is an investigation of the financial feasibility of farm based anaerobic digestion investments under Ontario's Standard Offer Contract electricity prices. Using Ontario Ministry of Agriculture, Food and Rural Affairs (OMAFRA) Agricultural Anaerobic Digestion Calculation Spreadsheet...

This paper investigates whether the assumption of Brownian motion often used to describe commodity price movements is satisfied. Using historical data from 17 commodity futures contracts specific tests of fractional and ordinary Brownian motion are conducted. The analyses are conducted under the...

This paper proposes that the common finding that land prices are systematically higher than their fundamental value as measured by the present value of future cash might be due to real options arising from uncertainty in cash flows. The paper posits a model in which the seller has a real option...

This paper provides an understanding of how the export credit worthiness of an importing country affects export sales of agricultural and other manufactured products and how export credit guarantees or insurance can mitigate risks of non-payment. A theoretical model is developed. It shows how...

This paper presents a model and framework for pricing degree-day weather derivatives when the weather variable is a non-traded asset. Using daily weather data from 1840-1996 it is shown that a degree-day weather index exhibits stable volatility and satisfies the random walk hypothesis. The paper...

Generic income stabilization schemes, which resemble an actual NISA policy adopted recently in Canada, encourage farmers to set aside funds in high income year for use in low income years through a formal procedure. Their economic effects are investigated using the prudent farm household model....