We estimate a dynamic version of an almost ideal demand system (AIDS) model for U.S.A. imports of fresh tropical fruits: bananas, pineapples, avocadoes, papayas, mangoes/guavas, grapes and other fresh fruit imports. An error correction model specification is justified after unit root and...

Fishery product imports by the U.S. have been gradually increasing in recent years. The leading exporting countries include Canada, Chile, China, Ecuador, Indonesia, Thailand, and Vietnam. A source-differentiated Almost Ideal Demand System (AIDS) model and its Error Correction Model (ECM)...

Kazakhstan?s agricultural sector plays an important role in the country'seconomy. Not only does it function as an economic output producer, it alsoserves as a social buffer in times of transition to a market economy. Therestructuring process had a strong impact on the economic performance...

The interconnections of agriculture and energy markets have increased through the rise in the new biofuel agribusinesses and the oil–ethanol–corn linkages. The question is whether these linkages have a causal structure by which oil prices affect commodity prices and through these links,...

In this study, the structure of the South African wheat market is analysed using economic theory and econometric modelling techniques. The developed model is used to make baseline projections regarding the supply and use of wheat in South Africa and to analyse the impacts of various policy...

A spatial price equilibrium (SPE) model of the world sugar market is programmed. The model coversmore than hundred regions and contains sugar in as a sole product. It has a detailed coverage ofpolicies and bilateral trade agreements. It is programmed as a mixed complementarity problem(MCP) in...

This article tests the efficiency of the hog options market and assesses the impact of the 1996 contract redesign on efficiency. We find that the hog options market is efficient, but some options yielded excess returns during the live hogs period but not during the lean hogs period. Our findings...

Regarding the nature of yield data, there are two basic characteristics that needs to be accommodated while we are about to model a yield distribution. The first one is the nonstationary nature of the yield distribution, which causes the heteroscedasticity related problems. The second one is the...

Options on agricultural futures are popular financial instruments used for agricultural price risk management and to speculate on future price movements. Poor performance of Black’s classical option pricing model has stimulated many researchers to introduce pricing models that are more...

We theoretically examine a farmer’s coverage demand with area and individual insurance plans as either separate or integrated options. The individual and area losses are assumed to be imperfectly and positively correlated. With actuarially fair rates, the farmer will fully insure with the...