High-value agricultural products such as processed foods are becoming increasingly important for both the production and trade of the United States. Efficiency gains in primary agriculture may be transferred to the processed food sector in the form of cheaper inputs because price declines and...

We develop a monopolistic competition model to investigate effects of international technological convergence on factor rewards, output composition, and welfare. Comparative static analysis indicates technological convergence improves the follower's—but impairs the leader's—international...

General equilibrium and open economy trade theory are used along with time series data on the U.S. agricultural sector to provide insights into the structure of agricultural supply, factor returns and linkages to the rest of the economy. Output expansion and factor returns are found to vary...

Sources of growth in U.S. gross domestic product (GDP) are analyzed in a general equilibrium, open economy framework using time-series data. Contributions from labor and capital account for 75% of the economy’'s average growth, with total factor productivity (TFP) accounting for the remainder....

Growth of U.S. agriculture is dependent on increases in productivity, three-fourths of which is accounted for by public investment in agricultural research and development (R&D) and infrastructure, according to this research. Productivity growth in U.S. agriculture benefits consumers by putting...