We estimate a distance function and derive producer shadow prices for SO2 and PM-10 emissions. The shadow prices are used to adjust a traditional measure of total factor productivity growth in order to account for the reallocation of inputs from production of the marketed output to pollution...

Establishment-level data are used to study capital deepening - increases in the capital-output ratio - in U.S. manufacturing from 1850 to 1880. In both nominal and real terms, the aggregate capital-output ratio rose substantially over the period. Capital deepening is shown to be especially...

A systems model was estimated to determine the effects of declining U.S. retail beef demand on farm-level beef prices and production. Retail beef demand declined by nearly 66% from 1976 to 1999. Results indicate autonomous shifts in retail demand significantly impacted farm-level demands and...

Farm programs influence the parameters of typically estimated supply functions. We develop and apply an approach that uses detailed information about farm program incentives and constraints to identify underlying structural acreage response parameters when the data reflect behavior under complex...

Recent empirical work has considered the prediction of inflation by combining the information in a large number of time series. One such method that has been found to give consistently good results consists of simple equal weighted averaging of the forecasts over a large number of different...

According to Levy Institute Distinguished Scholar Wynne Godley, the significance of the deficit in the U.S. balance of payments has been underestimated in both public policy and academic discussions. This underestimation has occurred despite the fact that U.S. markets are increasingly dominated...

On December 2001, the US Department of Commerce (DOC) announced the imposition of steep antidumping duties against honey imports from Argentina and China ranging from 32.6% to 183.8%, and a countervailing duty against Argentina of 5.9%. A previous AD investigation was concluded in 1995 with a...

Broad trends in the regional dispersion, industrial composition, and source country of foreign investment in manufacturing branch plants over the 1977-1986 period are described. Regression analysis, with states as the unit of observation, is used to investigate the factors important to the...

This study tests the relationship between diversification strategy and earnings persistence provided by Autoregressive, Integrative, Moving Average (ARIMA) models. When higher-order ARIMA models are used, this study shows the earnings persistence of U.S. Multinational firms to be positively...