The years following the 2008 financial crisis have been marked by general economic malaise, yet the period has been relatively prosperous for the agricultural sector. As a result, many investors have recognized the potential for farmland as an investment alternative. This study compares...

Beginning, limited-resource, and socially disadvantaged farmers make up as much as 40 percent of all U.S. farms. Some Federal conservation programs contain provisions that encourage participation by such “targeted” farmers and the 2008 Farm Act furthered these efforts. This report compares...

Cash and futures prices should reach equality, or converge, upon contract maturity. Traders can impose convergence during the delivery month througharbitrage behavior: either making or taking delivery on futures contracts. If convergence is not predictable, a futures market fails to provide a...

This study examines the systematic risk present in major crops for the United States andthree corn-belt states. An index of commodities is used in conjunction with cash receiptsto generate dynamic estimates of the systematic risk for each crop and state. In our study,we find that beta estimates...

This study examines the systematic risk present in major crops for the United States and three corn-belt states. An index of commodities is used in conjunction with cash receipts to generate dynamic estimates of the systematic risk for each crop and state. In our study, we find that beta...

Cash and futures prices should reach equality, or converge, upon contract maturity. Traders can impose convergence during the delivery month through arbitrage behavior: either making or taking delivery on futures contracts. If convergence is not predictable, a futures market fails to provide a...

The relationship between financial structure and job growth is both an unexplored issue and a possible channel through which financial structure impacts income growth. We explore these issues using both longrun and shortrun models. Our shortrun model provides evidence of a robust relationship...

The restructuring of commercial banking has heightened interest in its economic consequences both for the economy as a whole and for those most likely to bear adverse consequences: small businesses, small banks, and rural areas. Most previous research on bank restructuring focuses on changes in...

In 2008, wheat futures prices spiked and then crashed along with prices for other agricultural and nonagricultural commodities. Market observers offered several theories to explain this common movement, or comovement, in prices, and have proposed policies to address the perceived problem of...