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Journal Article
An update on the farm economy
Journal Article
The nation's food
Journal Article
The balance sheet of agriculture, 1950
Journal Article
Commentary
Journal Article
The Russian wheat deal-hindsight vs. foresight
Journal Article
U.S. agriculture: review and prospects
An old maxim holds that too much of a good thing can be bad for your health. That maxim pretty well sums up U.S. agriculture's predicament in 1994. The nation's crop producers produced record harvests and livestock producers sent record amounts of meat to the nation's meat counters. The abundance of food, however, brought the industry back to its traditional problem--record supplies bring low prices. Hence, farm income declined in 1994. Fortunately, most farmers and ranchers had healthy balance sheets to cushion the fall.> Drabenstott and Barkema review the farm economy in 1994 and consider ...
Journal Article
Crop costs and farm survival
Journal Article
Farmland values: the rise, the fall, the future
Working Paper
Why are estimates of agricultural supply response so variable?
Estimates of the response of agricultural supply to movements in expected price display curiously large variation across crops, regions, and time periods. We argue that this anomaly may be traced, at least in part, to the statistical properties of the commonly-used econometric estimator, which has infinite moments of all orders and may have a bimodal distribution. We propose an alternative minimum-expected-loss estimator, establish its improved sampling properties, and argue for its usefulness in the empirical analysis of agricultural supply response.