We build up from the plant level an “aggregate(d)” Solow residual by estimating every U.S. manufacturing plant's contribution to the change in aggregate final demand between 1976 and 1996. Our framework uses the Petrin and Levinsohn (2010) definition of aggregate productivity growth, which...

This article employs the superlative Fisher and Trnqvist indexes for exact decomposition of growth in nominal revenues and costs. The findings confirm the well-known result that these indexes very closely approximate each other, implying that the mathematically simpler and computationally easier...

This article provides a farm sector comparison of levels of capital input for fourteen OECD countries for the period 1973 to 2002. The starting point for construction of a measure of capital input is the measurement of capital stock. Estimates of depreciable capital are derived by representing...

Standard economic intuition of revealed preference implies that when two parties freely enter into a contract then neither should be worse off. In this study, we develop a simple model showing that introducing the opportunity to contract can lower welfare for some, and perhaps all, contracting...

This study identifies the determinants of coupon values at the brand level within the context of a complex marketing program. A two-equation, fixed-effects, panel-data model accounts for the bidirectional causality between brand prices and discount levels. The empirical model is fitted with data...

Cointegration techniques are applied to a model of induced innovation based on the two-stage Constant Elasticity of Substitution (CES) production function. This approach results in direct tests of the inducement hypothesis, which are applied to agricultural data for the United Kingdom from 1953...

We estimate a CBS system model of U.S. derived demand for meat. We use this model (1) to examine relationships between three quality categories of beef and three other meats and (2) to simulate how taste shifts have affected demands for meats over time. We extend previous studies by...

To analyze U.S. consumers' brand choices for cheese purchases, we derive a set of discrete-choice models from dynamic utility maximization. ACNielsen Homescan Survey data on U.S. households is used to estimate a dynamic probit model for each of the top brands for cheddar, shredded, and sliced...

Crop insurance and hedging are two risk management strategies used by farmers to manage risk. Using a discrete choice model and farm-level data, this study investigates the factors influencing farmers' use of hedging and crop insurance as risk management strategies. In the case of crop...

This study uses a large increase in US Federal crop insurance subsidies as a natural experiment to identify the importance of risk for farm operator labour supply. Subsidy increases induced greater crop insurance coverage, which in turn reduced farmers' financial risks. Crop insurance...