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Measuring the Economic Effect of Global Warming on Viticulture Using Auction, Retail, and Wholesale Prices
Ashenfelter, Orley C. - 2010
Although auction prices are based on actual transactions, they provide a thick market only for high quality, expensive wines and may overestimate climate's effect on farmer revenues. Wholesale prices, on the other hand, do provide broad coverage of all wines sold and probably come closest to...
Persistent link: https://www.econbiz.de/10012462615
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French Wine and the U.S. Boycott of 2003 : Does Politics Really Affect Commerce?
Ashenfelter, Orley - 2007
In early 2003, France actively tried to thwart the plans of the Bush administration to build international support for a war to depose Iraqi ruler Saddam Hussein. In response, calls in the United States for a boycott of French products, wine in particular, rebounded through all forms of media....
Persistent link: https://www.econbiz.de/10012465394
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Long Run Health Impacts of Income Shocks : Wine and Phylloxera in 19th Century France
Banerjee, Abhijit - 2007
This paper provides estimates of the long-term effects on height and health of a large income shock experienced in early childhood. Phylloxera, an insect that attacks the roots of grape vines, destroyed 40% of French vineyards between 1863 and 1890, causing major income losses among wine growing...
Persistent link: https://www.econbiz.de/10012465761
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The Value of Terroir : Hedonic Estimation of Vineyard Sale Prices
Cross, Robin - 2011
We examine the value of terroir, which refers to the special characteristics of a place that impart unique qualities to the wine produced. We do this by conducting a hedonic analysis of vineyard sales in the Willamette Valley of Oregon to ascertain whether site attributes, such as slope, aspect,...
Persistent link: https://www.econbiz.de/10012461895
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Conflict and Deterrence under Strategic Risk
Chassang, Sylvain - 2008
We examine the mechanics of deterrence and intervention when fear is a motive for conflict. We contrast results obtained in a complete information setting, where coordination is easy, to those obtained in a setting with strategic risk, where players have different assessments of their...
Persistent link: https://www.econbiz.de/10012464685
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Changing the Boston School Choice Mechanism
Abdulkadiroglu, Atila - 2006
previous Boston mechanism, a priority matching mechanism, and the case in favor of the change to a strategy-proof mechanism … unassigned students could have been assigned to one of their stated choices with a different strategy under the current mechanism …. This interaction between sophisticated and unsophisticated players identifies a new rationale for strategy-proof mechanisms …
Persistent link: https://www.econbiz.de/10012466706
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Capital Share Risk in U.S. Asset Pricing
Lettau, Martin - 2014
A single macroeconomic factor based on growth in the capital share of aggregate income exhibits significant explanatory power for expected returns across a range of equity characteristic portfolios and non-equity asset classes, with risk price estimates that are of the same sign and similar in...
Persistent link: https://www.econbiz.de/10012457922
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Effective Monetary Policy Strategies in New Keynesian Models : A Re-examination
Chung, Hess - 2014
strategy are common across the two models: In particular, highly inertial interest rate rules that respond to nominal income or …
Persistent link: https://www.econbiz.de/10012458054
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Understanding Defensive Equity
Novy-Marx, Robert - 2014
the abnormal performance of defensive equity (i.e., low volatility and/or low beta strategies). While defensive strategy …
Persistent link: https://www.econbiz.de/10012458074
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Strategic Trading in Informationally Complex Environments
Lambert, Nicolas S. - 2014
We study trading behavior and the properties of prices in informationally complex markets. Our model is based on the single-period version of the linear-normal framework of Kyle (1985). We allow for essentially arbitrary correlations among the random variables involved in the model: the value of...
Persistent link: https://www.econbiz.de/10012458151