Dynamic relationships between three classes of wheat are investigated using threshold VAR models incorporating the effects of protein availability. Changes in the stock of protein are found to generate significant impulse responses in the price of hard red spring wheat and hard red winter wheat...

This paper studies the extent to which decoupled income support measures in agriculture can have production implications both at the extensive and intensive margins. We develop a theoretical framework that analyzes production responses of agricultural producers to apparently decoupled payments,...

This article focuses on the modeling of agricultural yield data using hierarchical Bayesian models. In recovering the generating process of these data, we consider the temporal, spatial and spatio-temporal relationships pertinent to the prediction and pricing of insurance contracts based on...

Wealth affects the economic well-being of the farm households by enabling farm households to secure credit, facilitate intergenerational transfer, and provide for smoothing consumption expenditures in times of income shortfall. This paper examines the factors that are likely to influence wealth...

This paper formulates an information measure for changes in asset values and applies the formulation to farmland values in the United States for 1960-99. The results indicate that changes in asset values contained significant information following the Russian wheat sale in the early 1970s and...