This paper specifies an empirical model of the relative decline of the agricultural sector consistent with the neoclassical explanation. We utilize a production theory approach to analyze the effect of changes in relative prices, relative factor endowments and technical change on the share of...

The paper examines growth in the U.S. agricultural sector under the conditions hypothesized by endogenous growth theory. Public capital and R&D in agriculture are explicitly considered to capture the effect of public inputs. Results support some of the necessary conditions for this hypothesis to...

The value of the timing option implicit in CBOT corn futures contract is estimated. Separate estimates are obtained for the option without and with convenience yield. The effect of the option on basis behavior at day one of the maturity month is examined and is found statistically significant.

Forecasts of global crop yields prior to planting have generally been single values, based on entirely past trends. Regression analysis testing a combination of data from ENSO (El Nino/Southern Oscillation) and ARMA models suggests that yield forecasting errors can be reduced, generating more...

Several reasons justify the expectation of increasingly price elastic demand for dairy products. Using weekly scanner data, we find support for this hypotheses, but with wide variation in elasticity estimates across model specifications. The results demonstrate the need for more routine...

A theoretical model identified ranges of spatial variability required within multiple-land-class fields for economically viable variable rate technology (VRT) and the spatial variability required for maximum return to VRT. An example illustrated that return to VRT and the viable range of spatial...

The federal to state devolution of welfare programs accent the need for state and local policy makers to anticipate aggregate welfare demand. Pooled regression analysis using six years of county-level Mississippi TANF data identified effects of rurality, education, unemployment, poverty levels,...

The paper discusses the appropriate functional form and estimation technique for a wildlife production function on the farm level. A random effect model was developed to capture the relationship between wildlife output, management practices, natural conditions and non-observed factors that cause...

This study used Rosen's methodology of deriving a marginal implicit price series from traditional hedonic modeling and then using this series to estimate a demand model. This procedure was applied to Kansas Hard Red Winter wheat protein. Results were mixed. Own-district protein level was not...

Environmental issues such as air and water quality related to livestock production currently receive much attention. Potential methods for environmental improvement range from regulation to market solutions. This study looks at consumer willingness to pay for pork products with embedded...