Rice is a staple food in the West African nation of Sierra Leone with little difference in consumption between poor and wealthy households. Rice production is also an important source of livelihood with half of all households, three-quarters of rural households and about two-thirds of poor...

In this paper we investigate natural gas producer's reactions to changes in market prices. We estimate price elasticities of aggregated supply in the most competitive market for natural gas: the United States. Using monthly time series data form 1987 to 2012 our analysis is based on an...

In this paper we investigate natural gas producer's reactions to changes in market prices. We estimate price elasticities of aggregated supply in the most competitive market for natural gas: the United States. Using monthly time series data form 1987 to 2012 our analysis is based on an...

This paper reviews the literature on new housing supply. The paper starts by summarizing the results of the empirical studies on housing supply, showing that overall these studies reject the hypothesis of a perfectly elastic housing supply and reveal that housing supply is negatively related...

In a market economy, property and private initiative in holding shares prevailing state intervention adds to the free play of competition in order to direct the production, prices and to help rebalance the market with prices, the indirect taxes or subsidies.

The introduction of agricultural reforms has debatable effects on food security in developing countries. This research investigates how such effects influenced maize supply in two developing countries which were among the first to introduce agricultural reforms. Conclusions from the research...

This paper identifies simple conditions for monotone comparative statics of a unique equilibrium in the Akerlof-Wilson model. Separate conditions apply to trade volume and price. Trade volume increases when supply becomes both stronger and more elastic. In contrast, price decreases when supply...

The Kalman Filter is used to estimate a structural time-series model of cotton supply for 30 countries and 16 aggregated regions. Estimated short run supply elasticities with respect to the world price are presented for all 46 countries and regions. While they are broadly within the expected...

If a production process is characterized by a homogeneous production function, the conditions required for profit maximization imply that the elasticity of demand for each input must be elastic with respect to output price. This restriction limits the usefulness of these functions in empirical...