We present a new framework to identify demand and supply elasticities of agricultural commodities using yield shocks … - deviations from a time trend of output per area, which are predominantly caused by weather fluctuations. Demand is identified … using current-period shocks that give rise to exogenous shifts in supply. Supply is identified using past shocks, which …

demand estimates. We study a new dataset from a wireless inventory system installed on 54 vending machines to track product … availability every four hours. The data allow us to account for product availability when estimating demand, and provides a … availability even when availability is only observed periodically. We find significant differences in demand estimates, with the …

economic analyses of supply, demand and harms …

and demand. Supply disruptions turn out to be a bigger factor in historical oil price movements and inventory accumulation … uncertainty about the identifying assumptions themselves. We use this approach to revisit the importance of shocks to oil supply … a smaller factor than implied by earlier estimates. Supply shocks lead to a reduction in global economic activity after …

demand- versus supply-side drug policies. This paper is motivated by the relative lack of research providing formal economic … potential government objectives are considered. We find that both demand- and supply-side policies have theoretical support … under different community conditions. While the demand-side policy discourages active drug sellers, the supply-side policy …

of housing demand. Our model generalizes previous applied econometric work by incorporating realistic features of the … for capturing salient features of housing demand observed in the PSID. After estimating the model we use it to simulate …

in low demand markets and shrink in high demand markets. This is a puzzle. Symmetry of information among buyers and …. Because there is heterogeneity among buyers in the valuation of a given house, sellers set prices strategically. When demand …

crisis, we observe (not estimate) limit order demand and supply curves for individual stocks. Both curves have demonstrably … demand curve, it tends simultaneously to exhibit an unusually inelastic supply curve, and vice versa. These findings have … financial variables revert to pre-crisis norms. Superimposed upon this common long-term modulation, individual stocks' supply …

equilibrium approach that considers both demand and supply responses. We demonstrate that the equilibrium impact of capital gains … taxes reflects both the capitalization effect (i.e., capital gains taxes decrease demand) and the lock-in effect (i ….e., capital gains taxes decrease supply). Depending on time periods and stock characteristics, either effect may dominate. Using …

, demand effects are stronger, leading firms to raise their prices more and no longer reduce their employment … expectations. We find that higher inflation expectations on the part of firms leads them to raise their prices, increase demand for … credit, and reduce their employment and capital. However, when policy rates are constrained by the effective lower bound …