A computable general equilibrium model is used to evaluate the economic effects of a free trade agreement among China, Japan, and South Korea on the world economy. This study is focused on estimating trade creation and diversion effects of the FTA. Results show that there are strong trade...

This paper reexamines foreign currency markets for evidence of fractional integration, and extends the extant literature in several important dimensions. First, we utilize a new semiparametric wavelet-based estimator, which is far superior to the more prevalent GPH estimator on the basis of mean...

A modified gravity-type model was employed to evaluate the effect of exchange rate volatility on wheat exports worldwide. Special attention was given to the econometric properties of the gravity model within panel framework. Short and long-term measures of exchange rate volatility were...

This study explores the role of hedging costs in offshore hedging to minimize the risks associated with fluctuations in commodity export prices and exchange rates in international grain trade. The study focuses on three areas: (1) the effects of hedging costs in both commodity and currency...

Productivity spillovers in the U.S. food processing industry resulting from inward foreign direct investment (FDI) were examined for the time period of 1988 to 1992. Both Caves-type (unidirectional) and simultaneous (bidirectional) spillover models were considered in the analysis. Using the...

A modified gravity-type model was employed to evaluate the effect of exchange rate volatility on wheat exports worldwide. Special attention was given to the econometric properties of the gravity model within a panel framework. Short and long-term measures of exchange rate volatility were...

New information about food safety can stimulate a sudden, significant concern by the public, resulting in a pronounced change in consumer demand. One such example is the declining level of beef consumption in Europe and Japan, stemming from the outbreak of Bovine Spongiform Encephalopathy (BSE),...

Increased international trade can affect production costs by promoting changing input and output prices and by promoting technological innovation. Econometric results suggest increasing state exports of agricultural products and rising US/Canada agricultural trade has shifted production costs...

The practices of the Canadian Wheat Board (CWB) are an important issue in U.S. - Canada trade disputes and WTO negotiations. This study analyzes the CWB?s effect on U.S. producers by reviewing findings from previous research and developing models to analyze CWB wheat exports to the United States...

Since the discovery of Bovine Spongiform Encephalopathy (BSE) in the United States in December 2003, U.S. beef exports have declined approximately 85 percent. A number of countries, including Japan and Korea (the top export markets for U.S. beef), have banned imports of beef from the United...