The household production approach is used to characterize the household's preference toward nutrients in food consumption. Elasticities of substitution and Hicksian price elasticities are estimated, price- and expenditure-nutrient elasticities are calculated. Results show that protein is the...

Monthly price data from the Philippines are used to test the influence of government buffer-stock programs on the level and variability of rice prices from 1974-1990. Results do not support the conjecture that prices were correlated with stock purchases.

The study measures the extent to which farmgate price levels have effectively increased their degree of integration with world price movements following trade liberalization in Columbia. Results show that the extent of integration varies greatly depending upon the crop, and that market-specific...

The dominant trend in U.S. non-alcoholic consumption over the past two decades has been a steady increase in soft-drink consumption, largely at the expense of milk and coffee and tea consumption. Our analysis suggests that the primary factors affecting this is that the price, advertising, and...

The generalized composite commodity theorem (Lewbel 1996) is used to test for consistent aggregation of U.S. and Mexican agricultural production data in each of the categories for which earlier tests rejected homothetic separability. All U.S. agricultural outputs can be justifiably aggregated...

A variety of crop revenue insurance programs is now available. These programs require measurement of price risk. This article investigates the appropriateness of distributional assumptions underlying current and proposed alternative actuarial methods. Our results find that prices are best...

Coffee price volatility was extreme in 1997. With no obvious drought or freezing conditions in major growing countries, market analysts blamed El Nino. Alternatively, economic theory implies that commodity price volatility should be high when inventories are low. We analyze and test these two...

This paper examines whether permanent farmland preservation programs are capitalized into farmland prices. We consider the landowner's decision to voluntarily participate and correct for sample selection bias in our estimation of sales prices. Initial results suggest development restrictions...

This study develops a procedure to estimate income distribution effects on market demand. The proposed procedure contains two steps: estimation of the underlying income distribution and estimation of market demand. Empirical findings show that the income distribution effect is a significant...

The price transmission model is extended by incorporating seasonality and Shiller lags. Symmetry is evaluated for the length of the adjustment as well as the amount. Retail/shipping point tomato prices are used to test the model. Transmission elasticities are estimated. Results suggest this...