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The Optimal Tax on Antebellum U.S. Cotton Exports
Irwin, Douglas A. - 2021
The United States produced about 80 percent of the world's cotton in the decades prior to the Civil War. How much … monopoly power did the United States possess in the world cotton market and what would have been the effect of an optimal … export tax? This paper estimates the elasticity of foreign demand for U.S. cotton exports and uses the elasticity in a simple …
Persistent link: https://www.econbiz.de/10013210664
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Long-Run Impacts of Agricultural Shocks on Educational Attainment : Evidence from the Boll Weevil
Baker, Richard B. - 2018
The boll weevil spread across the Southern United States from 1892 to 1922 having a devastating impact on cotton …
Persistent link: https://www.econbiz.de/10012906300
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Protecting Financial Stability in the Aftermath of World War I : The Federal Reserve Bank of Atlanta's Dissenting Policy
White, Eugene N. - 2015
a reallocation of liquidity to its district during the contraction. Viewing the collapse of the price of cotton, the … of cotton collateral that would precipitate a general panic. In this previously unknown episode, the Federal Reserve … Atlanta Fed was vindicated when the shock to cotton prices proved to be temporary, and the Board conceded that the Reserve …
Persistent link: https://www.econbiz.de/10013019503
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Evolving Discretionary Practices of U.S Antidumping Activity
Blonigen, Bruce A. - 2021
Previous literature has discussed the procedural biases that exist in U.S. Department of Commerce (USDOC) dumping margin calculations. This paper examines the evolution of discretionary practices and their role in the rapid increase in average USDOC dumping margins since 1980. Statistical...
Persistent link: https://www.econbiz.de/10013232421
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Trade Diversion and the Initiation Effect : A Case Study of U.S. Trade Remedies in Agriculture
Carter, Colin A. - 2018
This paper estimates the impact of U.S. trade remedy (TR) actions on agricultural trade from 1990 to 2014. Most previous studies of the effects of TR actions have left out agricultural products. We use a four-country oligopolistic trade model to study the impact of TR duties on imports from...
Persistent link: https://www.econbiz.de/10012916175
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Commodity Market Disintegration in the Interwar Period
Hynes, William M. - 2009
Using data collected by the International Institute of Agriculture, we document the disintegration of international commodity markets between 1913 and 1938. There was dramatic disintegration during World War I, gradual reintegration during the 1920s, and then a very substantial disintegration...
Persistent link: https://www.econbiz.de/10012764519
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The Predictive Content of Commodity Futures
Chinn, Menzie David - 2010
This paper examines the relationship between spot and futures prices for a broad range of commodities, including energy, precious and base metals, and agricultural commodities. In particular, we examine whether futures prices are (1) an unbiased and/or (2) accurate predictor of subsequent spot...
Persistent link: https://www.econbiz.de/10013146511
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China's Import Demand for Agricultural Products : The Impact of the Phase One Trade Agreement
Feenstra, Robert C.; Hong, Chang - 2022
In December 2019, the United States and China reached a Phase One trade agreement, under which China committed to purchase more imports from the United States: $12.5 billion more agricultural imports in 2020 and $19.5 billion more in 2021, as compared to 2017. We show that the most efficient way...
Persistent link: https://www.econbiz.de/10013308202
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Monetary Policy and Asset Prices : A Look Back at Past U.S. Stock Market Booms
Bordo, Michael D. - 2011
This paper examines the economic environments in which past U.S. stock market booms occurred as a first step toward understanding how asset price booms come about and whether monetary policy should be used to defuse booms. We identify several episodes of sustained rapid rise in equity prices in...
Persistent link: https://www.econbiz.de/10013127756
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The U.S. Left Behind : The Rise of IPO Activity Around the World
Doidge, Craig - 2011
During the past two decades, there has been a dramatic change in IPO activity around the world. Though vibrant IPO activity, attributed to better institutions and governance, used to be a strength of the U.S., it no longer is. IPO activity in the U.S. has fallen compared to the rest of the world...
Persistent link: https://www.econbiz.de/10013127767