Several recent papers have used annual changes and monthly data to estimate demand systems. Such use of overlapping data introduces a moving average error term. This paper shows how to obtain consistent and asymptotically efficient estimates of a demand system using seasonally differenced data....

Small communities sometimes increase their local sales tax rate in order to maintain or expand public services. The question addressed here is what is the net effect of changing sales tax rates on revenues from sales taxes? Using both semiparametric and nonparametric regression, we find retail...

Many previous studies provide pricing models of options on futures spreads. However, none of them fully reflect the economic reality that spreads can stay near full carry for long periods of time. We suggest a new option pricing model that assumes that convenience yield follows arithmetic...

If switchgrass harvest is delayed until after senescence, some nutrients will translocate to the plant’s crown and roots. Biomass yield and fertilizer requirements depend on harvest date. The objective is to determine switchgrass biomass yield, nutrient concentration in biomass, fertilizer...

This article empirically investigates the prices and returns of the stocks of U.S. agriculture related firms for momentum anomaly. The study utilizes the decile portfolios sorting and the Fama and MacBeth cross section regression empirical methods. The main dataset is a merger of the balance...

In this paper we seek to improve understanding of the dynamics of perennial crop supply by comparing acreage change on land owned by incumbents compared to landown- ers entering or exiting perennial crop production. Spatially explicit land cover and land ownership data is integrated at the eld...