339 research outputs found
Futures Basis for Cotton: Impact of Globalization and Structural Change
Get PDFA model of commodity futures contract basis was developed based on Working’s theory of the price of storage. An error-correction model was estimated for the basis for the InterContinental Exchange (ICE) #2 cotton contract maturing in December during 2000-08. The model was also extended to incorporate the impact of changes in market activity that evolved as financial markets and commodity price behavior underwent significant changes after 2005. The model captured the inversion of basis following the collapse of China’s crop in 2003, but the shock realized during 2008 may have been in part driven by one-time events not included in the model. Estimates from the error-correction model suggest an extended period for the return of basis to equilibrium, spanning from about 1 ½ to 2 months.Basis, futures markets, cotton, error-correction model, Agribusiness, Demand and Price Analysis, Marketing,
PERSPECTIVES ON COTTON GLOBAL TRADE REFORMS
Get PDFWorld cotton prices fell to nearly unprecedented levels during the 2001/02 marketing year, causing distress to cotton producers and exporters worldwide. In a number of developing countries highly dependent on cotton for export earnings or where cotton is the primary cash crop, this distress was particularly acute. Global trade barriers to cotton are widespread, leading to some concern about the relationship between these trade barriers and global welfare. In particular, with the Doha Development Agenda's negotiations underway, discussion about the impact of trade barriers on the cotton sectors of developing countries has become more intense. A static computable general equilibrium (CGE) model finds that removing cotton tariffs and other trade barriers to cotton by all countries increases global welfare but only slightly. Global welfare improves with liberalization, and the welfare of developing countries in aggregate also improves. However, while some developing countries demonstrably benefit, not all developing countries see welfare gains. In addition to welfare, removing all global cotton trade barriers increases world trade in cotton.International Relations/Trade,
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Design of a randomized superiority trial of a brief couple treatment for PTSD.
Get PDFInterpersonal difficulties are common among veterans with posttraumatic stress disorder (PTSD) and are associated with poorer treatment response. Treatment outcomes for PTSD, including relationship functioning, improve when partners are included and engaged in the therapy process. Cognitive-behavioral conjoint therapy for PTSD (CBCT) is a manualized 15-session intervention designed for couples in which one partner has PTSD. CBCT was developed specifically to treat PTSD, engage a partner in treatment, and improve interpersonal functioning. However, recent research suggests that an abbreviated CBCT protocol may lead to sufficient gains in PTSD and relationship functioning, and yield lower dropout rates. Likewise, many veterans report a preference for receiving psychological treatments through clinical videoteleconferencing (CVT) rather than traditional face-to-face modalities that require travel to VA clinics. This manuscript describes the development and implementation of a novel randomized controlled trial (RCT) that examines the efficacy of an abbreviated 8-session version of CBCT ("brief CBCT," or B-CBCT), and compares the efficacy of this intervention delivered via CVT to traditional in-person platforms. Veterans and their partners were randomized to receive B-CBCT in a traditional Veterans Affairs office-based setting (B-CBCT-Office), CBCT through CVT with the veteran and partner at home (B-CBCT-Home), or an in office-delivered, couple-based psychoeducation control condition (PTSD Family Education). This study is the first RCT designed to investigate the delivery of B-CBCT specifically to veterans with PTSD and their partners, as well as to examine the delivery of B-CBCT over a CVT modality; findings could increase access to care to veterans with PTSD and their partners
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