Consistent aggregation assures that behavioral properties, which apply to disaggregate relationships also, apply to aggregate relationships. The agricultural economics literature is reviewed which has tested for consistent aggregation or measured statistical bias and/or inferential errors due to...

The generalized composite commodity theorem (Lewbel 1996) is used to test for consistent aggregation of U.S. and Mexican agricultural production data in each of the categories for which earlier tests rejected homothetic separability. All U.S. agricultural outputs can be justifiably aggregated...

The generalized composite commodity theorem (GCCT) and testing procedure is extended to test for consistent aggregation of the United States and Mexican agricultural production data in each category for which earlier tests rejected homothetic separability. Nonrejected GCCT and separability...

Consistent aggregation ensures that behavioural properties which apply to disaggregate relationships apply also to aggregate relationships. The agricultural economics literature which has tested for consistent aggregation or measured statistical bias and/or inferential errors due to aggregation...

Interest rate swaps are the most popular financial derivatives used by US firms. In this paper, the effects of swap usage on corporate financing decisions are empirically examined. Based on a dynamic capital structure theoretical model, a seemingly unrelated regression model with a...

The reply by Cook and comment by Chao demonstrate Kuhn's thesis that different scientists place different values on different components of their common discipline. This fact is demonstrated by first succinctly summarizing Cook's and my original points within the framework of a simple choice...

Taxes on sugar-sweetened beverages have been widely proposed to combat the U.S. obesity crisis. Most previous work has found the effects of a SSB tax to be small to moderate. We address three limitations. First, we incorporate the supply side via a stochastic equilibrium displacement model....

Intermediate macroeconomics should be taught as a two-part sequence, with the first component based on a benchmark model that reflects accepted theory and applications to policy, with electives introduced in subsequent courses.