This study proposed a theoretical framework for analyzing farm capital structure choice. The theoretical model recognizes that the costs of debt are endogenously determined which in turn reflect the degree of credit constraint faced by individual borrowers. Based on the proposed model, we...

Credit markets are an essential economic institution. In developing countries, particularly in countries undergoing rapid social and economic transition, it is important to identify emerging credit demand and institute credit supply in a timely manner to facilitate economic transformation. This...

Accurately forecasting volatility at distant horizons is critical for managing long-term risk in agriculture. Given the poor performance of GARCH-type models at long-term volatility forecast, we develop a risk-adjusted implied volatility, which adjust the risk-neutral implied volatility by...

MS-GARCH option pricing model proposed in this paper accommodates new features of corn futures price movement in the era of biofuel production and therefore is more general. Our findings show that this new model will outperform models used in the existing literature both for the in-sample and...

Florida tomato industry is suffering from current methyl bromide phase-out under Montreal Protocol. Methyl bromide and its alternative fumigation strategies for producers are analyzed. This article seeks to provide growers and policy makers with scientific information on optimal fumigation...

Recent development in production risk analyses has raised questions on the conventional approaches to estimating risk preferences. This study proposes to identify the risk separately from input equations with a seminonparametric estimator. The approach circumvents the issue of arbitrary risk...