Crop production is subject to supply shocks, and both expected and realized outputs as well as output prices are … life-cycle model for agricultural producers facing output and output price risk, with investment in an off …

Crop production is subject to supply shocks, and both expected and realized outputs as well as output prices are … life-cycle model for agricultural producers facing output and output price risk, with investment in an off …

extremely inelastic, price response is muted by a significant supply response that is obscured if futures prices are not …We present a new framework to identify demand and supply elasticities of agricultural commodities using yield shocks … using current-period shocks that give rise to exogenous shifts in supply. Supply is identified using past shocks, which …

constraining the gasoline and diesel supply chains. We consider several factors that alter the elasticity of supply, including … variation in the demand for untaxed uses of diesel. In general, we find that in periods of time when the supply chain is … supply disruptions such as after major hurricanes …

construction of city-specific price and purity series that pay careful attention to the data and incorporate existing knowledge of … economic analyses of supply, demand and harms …

Inventories and price changes are correlated. The inverse relation is most obvious in housing where inventories build …

We compare risk sharing in response to demand and supply shocks in four types of currency unions: segmented markets; a … all domestic demand shocks (deleveraging, fiscal consolidation), while a capital market union is necessary to share supply … banking union and, in the presence of supply shocks, from a capital market union.Institutional subscribers to the NBER working …

, we provide the first estimates of broad-scale welfare and distributional implications of this supply boom. We provide new … estimates of supply and demand elasticities, which we use to estimate the drop in natural gas prices that is attributable to the … supply expansion. We calculate large, positive welfare impacts for four broad sectors of gas consumption (residential …

going to understand boom-bust housing cycles, we must incorporate housing supply. In this paper, we present a simple model … of housing bubbles that predicts that places with more elastic housing supply have fewer and shorter bubbles, with … smaller price increases. However, the welfare consequences of bubbles may actually be higher in more elastic places because …