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Self-Selection into Credit Markets: Evidence from Agriculture in Mali

Karlan, Dean; Udry, Christopher; Beaman, Lori; … - National Bureau of Economic Research (NBER) - 2014

We partnered with a micro‐lender in Mali to randomize credit offers at the village level. Then, in no- loan control villages, we gave cash grants to randomly selected households. These grants led to higher agricultural investments and profits, thus showing that liquidity constraints bind with...

Persistent link: https://www.econbiz.de/10010969288

Corn Production Shocks in 2012 and Beyond: Implications for Food Price Volatility

Berry, Steven; Schlenker, Wolfram; Roberts, Michael J. - National Bureau of Economic Research (NBER) - 2012

Corn prices increased sharply in the summer of 2012 due to expected production shortfalls in the United States, which produces roughly 40% of the world's corn. A heat wave in July adversely affected corn production. We extend earlier statistical models of county-level corn yields in the Eastern...

Persistent link: https://www.econbiz.de/10010969241

Effects of Speculation and Interest Rates in a "Carry Trade" Model of Commodity Prices

Frankel, Jeffrey Alexander - National Bureau of Economic Research (NBER) - 2013

The paper presents and estimates a model of the prices of oil and other storable commodities, a model that can be characterized as reflecting the carry trade. It focuses on speculative factors, here defined as the trade-off between interest rates on the one hand and market participants'...

Persistent link: https://www.econbiz.de/10010969260

Food Price Volatility and Domestic Stabilization Policies in Developing Countries

Gouel, Christophe - National Bureau of Economic Research (NBER) - 2013

When food prices spike in countries with large numbers of poor people, hunger and malnutrition are very likely to result in the absence of public intervention. For governments, this is also a case of political survival. Government actions often take the form of direct interventions in the market...

Persistent link: https://www.econbiz.de/10010969308

Bubble Troubles? Rational Storage, Mean Reversion and Runs in Commodity Prices.

Bobenrieth, Eugenio S. A.; Bobenrieth, Juan R. A.; … - National Bureau of Economic Research (NBER) - 2013

High and volatile prices of major commodities have generated a wide array of analyses and policy prescriptions, including influential studies identifying price bubbles in periods of high volatility. Here we consider a model of the market for a storable commodity in which price expectations are...

Persistent link: https://www.econbiz.de/10010969322

Ricardo's Theory of Comparative Advantage: Old Idea, New Evidence

Costinot, Arnaud; Donaldson, Dave - National Bureau of Economic Research (NBER) - 2012

When asked to name one proposition in the social sciences that is both true and non-trivial, Paul Samuelson famously replied: 'Ricardo's theory of comparative advantage'. Truth, however, in Samuelson's reply refers to the fact that Ricardo's theory of comparative advantage is mathematically...

Persistent link: https://www.econbiz.de/10011227931

Time to Eat: Household Production Under Increasing Income Inequality

Hamermesh, Daniel - National Bureau of Economic Research (NBER) - 2006

Eating requires the food materials that make up meals and also time devoted to buying food, preparing meals and eating them, and cleaning up afterwards. Using time-diary and expenditure data for the U.S. for 1985 and 2003, I examine how income and time prices affect time and goods input into...

Persistent link: https://www.econbiz.de/10005575533

Identifying Supply and Demand Elasticities of Agricultural Commodities: Implications for the US Ethanol Mandate

Schlenker, Wolfram; Roberts, Michael J. - National Bureau of Economic Research (NBER) - 2010

We present a new framework to identify demand and supply elasticities of agricultural commodities using yield shocks - deviations from a time trend of output per area, which are predominantly caused by weather fluctuations. Demand is identified using current-period shocks that give rise to...

Persistent link: https://www.econbiz.de/10008610990

Incorporating Climate Uncertainty into Estimates of Climate Change Impacts, with Applications to U.S. and African Agriculture

Miguel, Edward Andrew; Burke, Marshall; Dykema, John; … - National Bureau of Economic Research (NBER) - 2011

scientists often criticize these articles because nearly all ignore the well-established uncertainty in future temperature and … estimates. This paper incorporates climate uncertainty into estimates of climate change impacts on U.S. agriculture. Accounting … for climate uncertainty leads to a much wider range of projected impacts on agricultural profits, with the 95% confidence …

Persistent link: https://www.econbiz.de/10009025240

The Value of Terroir: Hedonic Estimation of Vineyard Sale Prices

Stavins, Robert Norman; Cross, Robin; Plantinga, Andrew J. - National Bureau of Economic Research (NBER) - 2011

We examine the value of terroir, which refers to the special characteristics of a place that impart unique qualities to the wine produced. We do this by conducting a hedonic analysis of vineyard sales in the Willamette Valley of Oregon to ascertain whether site attributes, such as slope, aspect,...

Persistent link: https://www.econbiz.de/10008836712

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