The following paper outlines a new econometric model designed to capture both the temporal and spatial dynamics of housing prices. The paper combines existing spatial econometric techniques with a model that allows parameters to evolve over time. In addition, we provide an empirical application...

Non market valuation and bio economic modelling are combined in a dynamic model of ecosystem services. A mathematical proof demonstrates that the imputed price of natural capital contains all non market values and that scarcity rent is the total value of ecosystem services. A dynamic demand...

The price transmission model is extended by incorporating seasonality and Shiller lags. Symmetry is evaluated for the length of the adjustment as well as the amount. Retail/shipping point tomato prices are used to test the model. Transmission elasticities are estimated. Results suggest this...

This session focuses on advanced econometric issues in demand estimation. Testing Aggregation Without Separability in Meat Demand: An Investigation of the Generalized Composite Commodity Theorem George Davis, Texas A&M University. A New, More General Demand System: The Nested PIGLOG Julian...

This paper estimates a multivariate tobit system of monthly wholesale dairy prices where 4 prices are lower censored by the dairy price support program. Using Maximum Simulated Likelihood (MSL) we test/correct for the effects of simulation noise and present two tests for estimating multivariate...

REVISED 4/2/2015. SEE WP-15-001 AT http://ageconsearch.umn.edu/handle/200491

Some possible scenarios of Polish agri-food trade development are presented in the paper. Global Trade Analysis Project (GTAP), a computable general equilibrium model, was used to make some trade forecasts. The analysis showed that escalation of agricultural trade liberalization can result in a...

Mark-up plays nowadays the major role in plenty of DSGE models, and defining its cyclicality is one of the most demanding challenges in macroeconomics. The aim of the article was to measure price-cost margins (PCM) used as a proxy for mark-ups and their variation in the EU countries food...

Using the choice-based conjoint analysis and self explicated approach, I elicited South Korean millers’ preference and willingness to pay for the quality characteristics of hard white wheat that is used in producing all-purpose flour. In specified seven attributes, test weight, moisture, and...