Effects of Catfish, Crawfish, and Shrimp Imports on U.S. Domestic Prices

Recent increases in imports of catfish, crawfish, and shrimp have caused concern as to their impact on domestic prices. This study seeks to identify the linkages between imports of these goods and producer prices. Increases in imports of catfish and shrimp are shown to decrease related domestic prices. However, recent trends show a simultaneous increase in both imports and domestic prices of crawfish.Resource /Energy Economics and Policy,

Demand System Analysis of the South Korean Beef Market with the Free Trade Demand Model

In this study a demand system analysis for beef in South Korea is constructed. A free trade demand system was used in which the economic welfare of market participants are maximized. Recognizing implicit discrimination about non-locally sourced beef products, this study deduces market demand equations with respect to consumer preference in order to identify the marginal effect of change consumer preference has on market demand.Demand and Price Analysis, International Relations/Trade, Research Methods/ Statistical Methods,

MEASUREMENT OF SUBSTITUTABILITY BETWEEN U.S. DOMESTIC CATFISH AND IMPORTED FISH

This study examines p-interdependence and quantifies q-substitutability between domestic catfish and different species of imported fish in the U.S. fish market. In doing so, this study uses cointegration analyses for p-interdependence and structural analyses for q-substitutability. Cointegration analysis identifies the long run price equilibria between U.S. domestic catfish and different species of imported fish. The structural analyses show a degree of q-substitutability.cointegration, structural analyses, fish, imports, p-interdependence, and q-substitutability, International Relations/Trade,

An Empirical Investigation of Interproduct Relationships Between Domestic and Imported Seafood in the U.S.

This study seeks to identify interproduct relationships between domestic catfish and a representative selection of imported seafood. In doing so, this study uses multivariate cointegration and structural analyses. Multivariate cointegration analysis suggests that six imported seafood product groupings form a common market with domestic catfish. Structural analysis reveals that 1) domestic and imported catfish are net and gross quantity substitutes; 2) domestic catfish and imported seafood are normal goods; 3) six imported seafood products are identified as gross quantity substitutes for domestic catfish; and 4) according to the derived Allais coefficients, interaction intensities of imported seafood for domestic catfish (from greatest to least) are as follows: tuna, shrimp, salmon, tilapia, catfish, and trout.catfish, multivariate cointegration, quantity substitutability, seafood imports, structural analysis, Agribusiness, Agricultural and Food Policy, Agricultural Finance, Demand and Price Analysis, Environmental Economics and Policy, Financial Economics, Health Economics and Policy, International Relations/Trade, Livestock Production/Industries, Marketing, Political Economy, Production Economics, Productivity Analysis, Public Economics, Research Methods/ Statistical Methods, D12, F10, F11, F13,

AN ANALYSIS AS TO THE CAUSAL RELATIONSHIP BETWEEN BIOETHANOL EXPANSION AND AGRICULTURAL CROP ACREAGE ALLOCATION IN THE UNITED STATES

This study analyzes the historical price response of individual crop acreage in order to determine the impacts of an expansionist policy in bioethanol production on the U.S. agricultural industry. In doing this, this study provides an economic foundation by using a traditional Rotterdam model to simulate a cropland demand system. Within the developed framework, this study estimates own and cross acreage elasticities and scale elasticities to show the impacts of acreage values on crop production and the relationship between total cropland and individual crop acreage. This study found that rice farming is most inelastic to own acreage value. Soybeans, hay, and wheat are shown to be good substitute crops for corn. Corn, soybeans, hay, wheat, cotton, barley, and rice are shown to have positive scale elasticity, while sorghum and oats are shown to have negative scale elasticities. The scale effects of corn, soybeans, hay, and wheat are relatively large, while those of cotton, sorghum, barley, rice, and oats are relatively small.bioethanol, acreage value, Rotterdam model, own acreage elasticity, cross acreage elasticity, scale elasticity, Crop Production/Industries, Resource /Energy Economics and Policy,

Non-normal real estate return distributions by property type in the U.K.

Investment risk models with infinite variance provide a better description of distributions of individual property returns in the IPD database over the period 1981 to 2003 than Normally distributed risk models, which mirrors results in the U.S. and Australia using identical methodology. Real estate investment risk is heteroscedastic, but the Characteristic Exponent of the investment risk function is constant across time yet may vary by property type. Asset diversification is far less effective at reducing the impact of non-systematic investment risk on real estate portfolios than in the case of assets with Normally distributed investment risk. Multi-risk factor portfolio allocation models based on measures of investment codependence from finite-variance statistics are ineffectual in the real estate context

Critical behavior of the three- and ten-state short-range Potts glass: A Monte Carlo study

We study the critical behavior of the short-range p-state Potts spin glass in three and four dimensions using Monte Carlo simulations. In three dimensions, for p = 3, a finite-size scaling analysis of the correlation length shows clear evidence of a transition to a spin-glass phase at T_c = 0.273(5) for a Gaussian distribution of interactions and T_c = 0.377(5) for a bimodal distribution. These results indicate that the lower critical dimension of the 3-state Potts glass is below three. By contrast, the correlation length of the ten-state (p = 10) Potts glass in three dimensions remains small even at very low temperatures and thus shows no sign of a transition. In four dimensions we find that the p = 3 Potts glass with Gaussian interactions has a spin-glass transition at T_c =0.536(3).Comment: 11 pages, 13 figures, 6 table

Defect energy of infinite-component vector spin glasses

We compute numerically the zero temperature defect energy, Delta E, of the vector spin glass in the limit of an infinite number of spin components m, for a range of dimensions 2 <= d <= 5. Fitting to Delta E ~ L^theta, where L is the system size, we obtain: theta = -1.54 (d=2), theta = -1.04 (d=3), theta = -0.67 (d=4) and theta = -0.37 (d=5). These results show that the lower critical dimension, d_l (the dimension where theta changes sign), is significantly higher for m=infinity than for finite m (where 2 < d_l < 3).Comment: 4 pages, 5 figure

Short- & Long-Run Effects of Seafood Imports on Domestic Price

Agribusiness, Community/Rural/Urban Development, Demand and Price Analysis, International Relations/Trade,

The thermal Hall effect of spin excitations in a Kagome magnet

At low temperatures, the thermal conductivity of spin excitations in a magnetic insulator can exceed that of phonons. However, because they are charge neutral, the spin waves are not expected to display a thermal Hall effect in a magnetic field. Recently, this semiclassical notion has been upended in quantum magnets in which the spin texture has a finite chirality. In the Kagome lattice, the chiral term generates a Berry curvature. This results in a thermal Hall conductivity $\kappa_{xy}$ that is topological in origin. Here we report observation of a large $\kappa_{xy}$ in the Kagome magnet Cu(1-3, bdc) which orders magnetically at 1.8 K. The observed $\kappa_{xy}$ undergoes a remarkable sign-reversal with changes in temperature or magnetic field, associated with sign alternation of the Chern flux between magnon bands. We show that thermal Hall experiments probe incisively the effect of Berry curvature on heat transport.Comment: 6 pages, 3 figure