Data dilemmas in forecasting European office market rents

This paper uses data provided by three major real estate advisory firms to investigate the level and pattern of variation in the measurement of historic real estate rental values for the main European office centres. The paper assesses the extent to which the data providing organizations agree on historic market performance in terms of returns, risk and timing and examines the relationship between market maturity and agreement. The analysis suggests that at the aggregate level and for many markets, there is substantial agreement on direction, quantity and timing of market change. However, there is substantial variability in the level of agreement among cities. The paper also assesses whether the different data sets produce different explanatory models and market forecast. It is concluded that, although disagreement on the direction of market change is high for many market, the different data sets often produce similar explanatory models and predict similar relative performance

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,

Demand behavior of U.S. high fructose corn syrup (HFCS) and its implication for the U.S. sweetener market: a cointegration analysis

This paper investigates the relationship between U.S. HFCS demand and refined sugar price. A cointegration analysis is utilized to investigate possible linkages between these markets. The coefficients on the ECM have the expected signs, and they measure adjustments towards long-run equilibrium. The study result also shows that there is cointegration in a relationship including, HFCS price, the refined sugar price, and income. the increase in HFCS demand would affect primarily the quantity of sugar imports negatively. However, this study does not necessarily support such a conclusion due to the exclusion of noneconomic factors such as change in consumer preference and health concern.Demand and Price Analysis,

Data Dilemmas in Forecasting European Office Market Rents

This paper uses data provided by three major real estate advisory firms to investigate the level and pattern of variation in the measurement of historic real estate rental values for the main European office centres. The paper assesses the extent to which the data providing organizations agree on historic market performance in terms of returns, risk and timing and examines the relationship between market maturity and agreement. The analysis suggests that at the aggregate level and for many markets, there is substantial agreement on direction, quantity and timing of market change. However, there is substantial variability in the level of agreement among cities. The paper also assesses whether the different data sets produce different explanatory models and market forecast. It is concluded that, although disagreement on the direction of market change is high for many market, the different data sets often produce similar explanatory models and predict similar relative performance.

A GAME THEORETIC ANALYSIS OF U.S. RICE EXPORT POLICY: THE CASE OF JAPAN AND KOREA

As a result of the Uruguay Round (UR), the impact on the international rice market is dramatic.The major U.S. benefit of the UR has been the access to the Japanese market. However, the U.S. share of this import market has been unstable and the share of Korean rice market is nearly zero prior to February 2002. Econometric estimation and Political Preference Function (PPF) approach are incorporated into a game theoretic analysis to analyze U.S. export potential to Japan and Korea.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,