This paper analyzes monetary policy conditions in Spain before and after the changeover to the Euro as the single European currency. We use forward-looking Taylor-type rules to describe the Banco de España's pre-Euro monetary policy and find that it was clearly inflation stabilizing. Compared...

We examine the role that habit plays when producers determine their hedge ratio. Data were collected from U.S. cotton growers in which they indicated their hedging position in 2001 and 2002 as well as their perceived profitability, land ownership structure, and income. To account for...

This article deals with the basic analysis of price transmission in the milk agri-food chain. The analysis is aimed at deriving the fundamental relationships between milk prices at the individual levels of the chosen vertical. The results are then validated with the use of statistical hypotheses...

Benefit transfer entails using estimates of non-market values derived at one site as approximations to benefits at other sites. The method finds favour because it can be applied quickly and cheaply, however the validity of benefit transfer is frequently questioned. Published studies generally...

A whole farm budget for a representative farm in the Lower Namoi Valley in northern NSW was used to analyse the financial implications of a comparative rotational experiment of four cotton-based rotations conducted in recent years at the Australian Cotton Research Institute, near Narrabri. The...

In line with the social objectives of the PNPB (Brazilian Program of Production and Use of Biodiesel) and its “Social Seal” Framework, PETROBRAS has set up a 57 million liter/year biodiesel plant in the semi‐arid region of North of Minas Gerais State, where the socioeconomics indicators...

This article tests the efficiency of the hog options market and assesses the impact of the 1996 contract redesign on efficiency. We find that the hog options market is efficient, but some options yielded excess returns during the live hogs period but not during the lean hogs period. Our findings...

The increase in energy prices between 2004 and 2007 has several potential consequences for aggregate agriculture in the U.S. We estimate the derived input demand elasticities for energy as well as capital, labor, and materials using the differential supply formulation. Given that the derived...

Hedging is one of the most important risk management decisions that farmers make and has a potentially large role in the level of profit eventually earned from farming. Using panel data from a survey of Georgia farmers that recorded their hedging decisions for 4 years on four crops, we examine...

The Orbit demand model allows the magnitude of the calibration to stated purchase intentions to vary based on the magnitude of the stated quantities. Using an empirical example of stated trips, we find that the extent of calibration varies substantially with less correction needed at small...