Wheat acreage responses to expected wheat price and price risk are reversed for program and nonprogram-planted acreage in the northern plains, central plains, southern plains, and U.S. Expected wheat price has a strong negative effect on program-complying wheat acreage. Government support prices...

A source differentiated AIDS model is specified to estimate Japanese meat import demand. Block separability and product aggregation are rejected at conventional levels of significance. The model with the block substitutability restriction explains more than 95% of data variation. The empirical...

This study examines the long-run neutrality of money and the short-run dynamics of farm and nonfarm prices to the monetary shock, using Johansen'Â’s approach. Results find a long-run equality of prices, but not neutrality. In the short-run, farm prices adjust faster than nonfarm prices to a...