186 research outputs found

    DISCUSSION: ANALYSING THE POTENTIAL FOR INCREASED TRADE

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    International Relations/Trade,

    NONROBUSTNESS OF DYNAMIC DUAL MODELS OF THE NORTHEASTERN AND U.S. DAIRY INDUSTRIES

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    The robustness of dynamic dual models examined by Howard and Shumway is reevaluated with the proper specification for the modified generalized Leontief (GL) and normalized quadratic (NQ) functional forms. In an application to the Northeastern and U.S. dairy industries, the theoretical properties, adjustment rates, and predictive ability were similar under both functional forms. However, elasticity measures differed significantly.Livestock Production/Industries,

    SUMMARY OF RESEARCH NEEDS

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    International Relations/Trade, Research and Development/Tech Change/Emerging Technologies,

    AGRICULTURE AND CITIZEN COMPLAINTS

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    The paper addresses the relationship between agricultural spills and environmental complaints filed by citizens against agriculture. It also determines the influence of other factors on the likelihood of both farm spills and complaints within a region. The relationships have been estimated using a unique data set containing the number of spills and complaints along with regional data such as the stringency of environmental regulations and socio-economic variables. Different environmental regulations do appear to have an effect on the spills and complaints. By-laws on the size of manure storage facility in relation to the number of livestock housed influence the likelihood of spills within a region. Larger storages decrease the number of annual manure applications and thus the opportunity for runoff. While the required distance between a new barn and a waterway appears to have no effect on the likelihood of spills, it does decrease the probability of complaints being lodged against agriculture. Increases in the percentage of the regions zoned as agriculture also decreases the likelihood of complaining. Together the results suggest that distance between livestock producers and both environmentally sensitive areas and people are an effective means to reduce conflicts between farmers and the local community. Another policy question raised in the study was the effectiveness of using citizen complaints as an information tool in addressing environmental quality issues surrounding agriculture. There is a positive, albeit weak, positive influence between spills in a region and the number of complaints. Complaints could be used to indicate problem areas but the information signal will be noisy. Regulators will have to be aware that such complaints are more likely to come from wealthy areas when deciding upon how to react to complaints.Environmental Economics and Policy,

    Factors Affecting Variability in Farm and Off-farm Income

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    The purpose of this paper is to examine the factors affecting the relative variability in farm and off-farm income for Canadian farm operators. Previous attempts have been limited by the lack of available data combining both farm and off-farm income levels for farm operations over time. Statistic Canada’s Farm Micro-Longtidinal Dataset of 17,000 farm operators from 2001 to 2006 allowed such an analysis. The coefficient of variation (CV) in farm income is significantly greater than that for off-farm income but both measures are inversely related to the permanence of the income source to the operation. The greater the reliance on farm income and the greater the labour demand within the farm, the lower (greater) the relative variability in farm (off-farm) income. Larger commercial operations tend to experience larger farm income volatility either because they are less risk averse and/or have the ability to manage more risk. Diversification and off-farm employment appear to be substitute for risk management strategies for commercial operations. Pension and lifestyle farms have lower coefficient of variation for both farm and off-farm income compared to business-focused farms since they are possibly more risk averse and benefit from a permanent stream of off-farm revenue. Government payments have mixed effects on the relative variability of both income sources, which may be due the lag between the time of the income reduction and the time at which the aid is received.Relative variability, farm and off- farm income, Agricultural and Food Policy,

    OPTIMAL REPLACEMENT INTERVAL AND DEPRECIATION METHOD FOR A GRAIN COMBINE

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    A stochastic dynamic programming model is developed to determine optimal replacement intervals and depreciation schedules for a combine on a cash grain farm in north central Montana, where the optimal decision is based on the stochastic nature of winter wheat prices. Empirical results indicate that the decision varies widely depending on the states describing the conditions facing the farm firm. Under normal profitable conditions and ERTA81 tax legislation, suggested replacement is after five years of service, the new asset being depreciated under the accelerated cost recovery system and the investment credit option. Changes to the tax law would tend to smooth out and increase this replacement interval.Agricultural Finance, Farm Management,

    Commodity Price Volatility: The Impact of Commodity Index Traders

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    index, traders, commodity, price, volatility, Agricultural and Food Policy, Demand and Price Analysis, Marketing,

    The Financial Feasibility of Anaerobic Digestion for Ontario's Livestock Industries

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    This report is an investigation of the financial feasibility of farm based anaerobic digestion investments under Ontario's Standard Offer Contract electricity prices. Using Ontario Ministry of Agriculture, Food and Rural Affairs (OMAFRA) Agricultural Anaerobic Digestion Calculation Spreadsheet (AADCS) anaerobic digestion inputs, outputs, cost and revenues were estimated and used to conduct a financial analysis on the feasibility of four sized farm base anaerobic digestion investments. The results suggest investment in an anaerobic digestion system smaller than 300 kilo-watts is not financially feasible under the chosen base model assumptions and Ontario's Standard Offer Contract. The efficiency of the anaerobic digestion systems,discussed in the report as electricity yield, was found to have the largest impact on the investments financial feasibility. Incorporating off-farm organic material improved financial feasibility by increasing biogas production and offering the potential for tipping fee revenue.Livestock Production/Industries,

    Commodity Price Volatility: The Impact of Commodity Index Traders

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    Over the years, critics have argued that futures market prices have been either too low or too high. Speculators have often been the target for the wrath of those feeling the futures price does not properly reflect market fundamentals. Recently, the criticism has been vented toward a new type of speculator that has been blamed for the dramatic changes in agricultural commodity prices experienced over the last several years. Commodity index traders (CITs) and other large institutional traders are commonly accused of exerting a destabilizing influence on commodity prices. The intensity of the debate over the role of CITs appeared to wane with the reduction in commodity prices since 2008 but the recent release of a well-publicized OECD report on the issue by Irwin and Sanders (2010) along with the doubling of wheat prices and the claim by von Braun (2010) and others that the rise was due to speculative activity has renewed the debate.commodity, index futures, trading, volatility, Agribusiness, Agricultural and Food Policy, Demand and Price Analysis, Marketing,

    TRANSACTION COSTS, ECONOMIC INSTRUMENTS AND ENVIRONMENTAL POLICIES

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    This study has attempted to distinguish the alternative forms of transaction costs referred to the environmental policy literature and to bring these transaction costs into a unified theory. The optimal choice of economic instrument between Pigouvian taxes and tradable permits is shown to depend on the level of transaction costs as opposed to the standard model where both emission taxes and permits are first best policies to achieve a level of emissions. It is demonstrated that inclusion of transaction costs decreases the socially optimal emission level as compared to the standard model. Instrument selection is affected by the functional specification for instrument costs for both firm and regulator level. Depending on the nature of these costs optimal economic instruments will be different.Transaction Costs, Economic Instrument Selection, Environmental Economics and Policy, Industrial Organization,
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