Increased global demand for biofuels is placing increased pressure on agricultural systems at a time when traditional sources of yield improvements have been mostly exhausted, generating concerns about the future of food prices. This paper estimates the impact of global adoption of genetically...

We assess the role of land markets on factor misallocation in Ethiopia--where land is owned by the state--by exploiting policy-driven variation in land rentals across time and space arising from a recent land certification reform. Our main finding from detailed micro data is that land rentals...

We estimate the factors determining specialization of crop choice at the level of individual fields, distinguishing between the role of natural advantage (soil characteristics) and economies of density (scale economies achieved when farmers plant neighboring fields with the same crop). Using...

This study explores the interaction between trade and geography in shaping the Islamic economic doctrine. We build a model where an unequal distribution of land quality in presence of trade opportunities conferred differential gains from trade across regions, fostering predatory behavior by...

Why do developing countries fail to specialize in products in which they appear to have a comparative advantage? We propose a model of agricultural trade with intermediation that explains how hold-up resulting from poor contracting environments can produce such an outcome. We use the model to...

This paper investigates budgetary rules for an economy characterized by inflation and volatile relative prices. We view the budgetary process as a limited contingencies contract between the treasury and the ministers. The budgetary process allows a minister, whose realized real budget falls...

We develop a consistent and comprehensive theoretical framework for assessing whether economic growth is compatible with sustaining well-being over time. The framework focuses on whether a comprehensive measure of wealth - one that accounts for natural capital and human capital as well as...

Heterogeneous yield impacts from adoption of genetically engineered corn and the importance of controlling for weather /Jayson L. Lusk, Jesse Tack, and Nathan P. Hendricks --Impacts of climate change and extreme weather on US agricultural productivity: evidence and projection /Sun Ling Wang,...

The sharing economy for a wide range of goods and services is expanding across the world. To direct the benefits from sharing capital services towards small-scale producers, governments in the developing world are increasingly intervening in fast-growing mechanization rental markets. However,...