Commodity price volatility in international markets has been used to justify numerous policy interventions, including the need for buffer stocks and counter-cyclical payments. The common measure of volatility, the standard deviation or coefficient of variation, likely overstates the actual...

Commodity price volatility in international markets has been used to justify numerous policy interventions, including the need for buffer stocks and counter-cyclical payments. The common measure of volatility, the standard deviation or coefficient of variation, likely overstates the actual...

As growth in world trade outpaces the growth in world Gross Domestic Product (GDP), economies are becoming ever more linked through world markets (Helpman, 1998). It is evident that U.S. agriculture is also becoming increasingly affected by changes or economic shocks in world markets and that...

As growth in world trade outpaces the growth in world Gross Domestic Product (GDP), economies are becoming ever more linked through world markets (Helpman, 1998). It is evident that U.S. agriculture is also becoming increasingly affected by changes or economic shocks in world markets and that...

This paper focuses on estimating the effects of the real FDI-weighted exchange rate on realU.S. foreign direct investment (FDI) in the global processed food industry. We use a straightforwardproduction possibility framework as our theoretical basis to demonstrate the shift ofproduction between...

Market-based instruments such as fees or tradable perm its can be used to simultaneously regulate point and non-point sources of pollution discharge into a river However sources of pollution discharge often have more information about their own costs of pollution abatement than do regulators....

Environmental regulators often have imperfect information about regulated firms' abatement costs. In this paper we compare taxes and emissions permits in a dynamic setting in which firms behave strategically. The regulator updates policy over time based upon previous aggregate industry...