This paper focuses on recent theoretical developments in political economy and what role they might play in explaining and reforming individual country and global distortions in food and agricultural markets. Four groups of forces are isolated: political governance structures emphasizing the...

The dynamic duality econometric approach with the case of multiple outputs is applied to the US cigarette manufacturing industry to test for the presence of adjustment costs and quasi-fixed inputs with regard to stocks of capital and tobacco. Capital and tobacco stocks are found to be...

Following the approach of Berndt, Fuss, and Waverman, a dynamic model for U.S. cigarette manufacturing is developed and factor demands estimated. Tobacco and capital stocks are treated as quasi-fixed inputs. The results indicate that there are significant adjustment costs associated with...