This session focuses on policy impact analyses in the US and international markets, with a special reference to trade. From Minimum Access to Tariffication of Rice Imports in Japan and South Korea; Dae-Seob Lee, Eric Wailes, and James Hansen, University of Arkansas. The Economics of Decoupled...

Share contracts under information asymmetry often involve input application and risk sharing inefficiency. These difficulties are nullified under full information which can be approximated in repeated contracts. We give evidence of cooperation in repeated contracts, indicating the existence of...

The value of improved climate forecasts to winter wheat producers is estimated. Two El Niño/Southern Oscillation based forecasting methods are compared. In most regions, a five phase approach is more valuable than the more commonly used three phase approach. Economic value and distributional...

Environmental regulations are hypothesized to have an impact on industry structure in manufacturing industries. A nonstationary Markov chain analysis shows that the capital expenditures required to meet environmental regulations is a statistically significant variable explaining increasing...

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...