2,806 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 Workingâs 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 Chinaâs 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,
U.S. COTTON SUPPLY RESPONSE UNDER THE 2002 FARM ACT
Get PDFAgricultural and Food Policy, Crop Production/Industries,
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,
My Heart Made Me Do It: Childrenâs Essentialist Beliefs About Heart Transplants
Full text linkPsychological essentialism is a folk theory characterized by the belief that a causal internal essence or force gives rise to the common outward behaviors or attributes of a categoryâs members. In two studies, we investigated whether 4â to 7â yearâ old children evidenced essentialist reasoning about heart transplants by asking them to predict whether trading hearts with an individual would cause them to take on the donorâs attributes. Control conditions asked children to consider the effects of trading money with an individual. Results indicated that children reasoned according to essentialism, predicting more transfer of attributes in the transplant condition versus the nonâ bodily money control. Children also endorsed essentialist transfer of attributes even when they did not believe that a transplant would change the recipientâs category membership (e.g., endorsing the idea that a recipient of a pigâs heart would act pigâ like, but denying that the recipient would become a pig). This finding runs counter to predictions from a strong interpretation of the â minimalistâ position, an alternative to essentialism.Peer Reviewedhttps://deepblue.lib.umich.edu/bitstream/2027.42/138236/1/cogs12431_am.pdfhttps://deepblue.lib.umich.edu/bitstream/2027.42/138236/2/cogs12431.pd
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