The Andean Community's Price Band System (APBS), introduced in 1995, had the announced goal of reducing domestic price instability by buffering fluctuations in international prices through use of a variable import tariff. This paper evaluates the effects of the Andean Price Band System on...

Agricultural trade between the U.S. and Mexico has become progressively liberalized over the past 20 years, with significant increases in bilateral trade in many sectors. The rice sector in both nations, however, continues to be highly protected, with producers and millers on both sides of the...

The Andean Community's Price Band System (APBS), introduced in 1995, had the announced goal of reducing domestic price instability by buffering fluctuations in international prices through use of a variable import tariff. This paper evaluates the effects of the Andean Price Band System on...

Agricultural trade between the U.S. and Mexico has become progressively liberalized over the past 20 years, with significant increases in bilateral trade in many sectors. The rice sector in both nations, however, continues to be highly protected, with producers and millers on both sides of the...

Few proposed types of derivative securities have attracted as much attention and interest as option contracts on volatility. Grunbichler and Longstaff (1996) is the only study that proposes a model to value options written on a volatility index. Their model, which is based on modeling volatility...

In this paper we derive a joint continuous/censored demand system suitable for the analysis of commodity demand relationships using panel data. Unobserved heterogeneity is controlled for using a correlated random effects specification and a Generalized Method of Moments framework used to...