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The Impact Of Transportation Costs On Spatial Competition Of Grain Buyers: An Iowa Case Study, Miguel Carriquiry, Bruce A. Babcock 2017 Iowa State University

The Impact Of Transportation Costs On Spatial Competition Of Grain Buyers: An Iowa Case Study, Miguel Carriquiry, Bruce A. Babcock

Bruce Babcock

Hotelling’s classic model of spatial competition is adapted to estimate the impacts on grain price of the closure of one of three grain buyers on the Mississippi River in the vicinity of Scott County, Iowa. The customers of the buyer who is closing (River Gulf Grain Company) in Davenport, Iowa, are assumed to deliver their grain to a buyer in either Buffalo, Iowa, to the south or to a buyer in Clinton, Iowa, to the north. Calibration of Hotelling’s framework to this situation leads to an estimated decline in grain bids of 1.5¢ per bushel for the ...


U.S. Farm Policy And The Wto: How Do They Match Up?, Chad E. Hart, Bruce A. Babcock 2017 Iowa State University

U.S. Farm Policy And The Wto: How Do They Match Up?, Chad E. Hart, Bruce A. Babcock

Bruce Babcock

The debate over a new farm bill has focused on how to spend an additional $73.5 billion in funding for the agricultural budget over ten years. The House of Representatives, the Senate Agriculture Committee, and Senators Cochran and Roberts (supported by the Bush Administration) have each proposed a structure for the next farm bill. A critical question becomes whether these proposals conflict with U.S. commitments to limit subsidies under the World Trade Organization (WTO) agreement. This paper explores this issue and concludes with a discussion of the future direction of U.S. farm subsidies and new WTO agreements.


Estimating The Value Of Guaranteed Rail Service, Gregory R. Pautsch, Bruce A. Babcock, C. Phillip Baumel 2017 Iowa State University

Estimating The Value Of Guaranteed Rail Service, Gregory R. Pautsch, Bruce A. Babcock, C. Phillip Baumel

Bruce Babcock

The purpose of this research is to develop a framework to estimate the value of guaranteed rail service to grain shippers. The analysis consists of estimating density functions for the days waiting for conventional tariff service. A shipper loss function for waiting for rail service was also estimated. Three qualitative results were established. First, the value of guaranteed rail service increases as the quality of guaranteed service rises. Second, the value of guaranteed rail service increases as conventional tariff service becomes less reliable. Finally, when grain is stored on the ground, the value of guaranteed rail service increases.


Economies Of Size, Tax Reform And Profitability Of Alternative Midwestern Feedlot Systems, Mark R. Weimar, Arne Hallam, Larry D. Trede 2017 United States Department of Agriculture

Economies Of Size, Tax Reform And Profitability Of Alternative Midwestern Feedlot Systems, Mark R. Weimar, Arne Hallam, Larry D. Trede

Arne Hallam

The Tax Reform Act of 1986 may have substantial impacts on cattle feeding operations in the Midwest. Changes in the tax laws may encourage different investment patterns in feedlots as to size, type of facility, feeding programs, and age of animal fed. Cost and returns are computed for a variety of feeding systems under the new and old tax laws.Substantial economies of size were found under both tax laws, bu they were more extreme under the new tax system.


Factors Impacting Production And Economic Variability In Traditional Midwest Swine Enterprises, John D. Lawrence, John Shaffer, Arne Hallam, Thomas J. Baas 2017 Iowa State University

Factors Impacting Production And Economic Variability In Traditional Midwest Swine Enterprises, John D. Lawrence, John Shaffer, Arne Hallam, Thomas J. Baas

Arne Hallam

Traditional swine enterprises report competitive cost of production for the “top one-third”herds.Further analysis shows that individual herds are seldom in the most profitable group every year, and nearly all farms have an occasional good year.While long-run differences exist in cost of production across farms, the wide variability from year to year in efficiency, costs, and returns provides a greater challenge to existing swine enterprises.


Entrepreneurial Skills In Thick And Thin Markets, Georgeanne M. Artz, Zizhen Guo, Peter F. Orazem 2017 Iowa State University

Entrepreneurial Skills In Thick And Thin Markets, Georgeanne M. Artz, Zizhen Guo, Peter F. Orazem

Economics Working Papers

Firm profitability is affected by location-specific factors such as agglomeration economies, infrastructure, or proximity to consumers or key producers. Location-specific profits are also influenced by the idiosyncratic match between the entrepreneur and the community. Using data on the universe of all new firm entrants in North Carolina and Iowa between 1992–2011, this study shows how observed location-specific factors affect the probability of new firm entry. We then show that the unobserved factors that influence new firm entry increase the probability of firm survival, demonstrating that these unobserved idiosyncratic factors influence firm profitability and are not just unproductive entrepreneurial preferences ...


Southwest Minnesota Economic And Business Conditions Report - First Quarter 2017, Richard A. MacDonald, King Banaian 2017 St. Cloud State University

Southwest Minnesota Economic And Business Conditions Report - First Quarter 2017, Richard A. Macdonald, King Banaian

Southwest Minnesota Economic and Business Conditions Report

Increased economic growth in Southwest Minnesota is expected over the next several months according to the predictions of the St. Cloud State University Southwest Minnesota Index of Leading Economic Indicators (LEI). Three of four LEI components were positive in the first quarter. An improvement in the rural outlook and lower jobless claims contributed favorably to the LEI in the first quarter. An increase in residential building permits in the Mankato MSA also helped lift the leading index. After falling 2.77 points in last year’s fourth quarter, the Southwest Minnesota LEI rose by 4.68 points in the current ...


Southeast Minnesota Economic And Business Conditions Report - Spring Quarter 2017, Richard A. MacDonald, King Banaian 2017 St. Cloud State University

Southeast Minnesota Economic And Business Conditions Report - Spring Quarter 2017, Richard A. Macdonald, King Banaian

Southeast Minnesota Economic and Business Conditions Report

Strong economic growth in Southeast Minnesota is expected to continue over the next several months according to the most recent prediction of the Southeast Minnesota Index of Leading Economic Indicators (LEI). After a quarter in which the LEI experienced a 4.04 point increase, the Southeast Minnesota leading index surged by 12.76 points in the first quarter of 2017. Four components of the LEI had positive readings in the first quarter. A decrease in initial claims for unemployment benefits, improvement in the Minnesota Business Conditions Index (which serves as a general measure of state business conditions), a larger number ...


Northwest Minnesota Economic And Business Conditions Report - First Quarter 2017, Richard A. MacDonald, King Banaian 2017 St. Cloud State University

Northwest Minnesota Economic And Business Conditions Report - First Quarter 2017, Richard A. Macdonald, King Banaian

Northwest Minnesota Economic and Business Conditions Report

The Northwest Minnesota planning area economy is expected to experience steady growth over the next several months according to the predictions of the St. Cloud State University Northwest Minnesota Index of Leading Economic Indicators (LEI). Two of the five index components increased as the LEI was essentially unchanged in the first quarter. An increase in the Rural Mainstreet Index (which signals an improving macroeconomic environment for rural America) and lower initial jobless claims contributed favorably to the first quarter outlook. Weaker residential building permits in Fargo/Moorhead and Grand Forks/East Grand Forks, and slower new filings for LLC and ...


Central Minnesota Economic And Business Conditions Report - First Quarter 2017, Richard A. MacDonald, King Banaian 2017 St. Cloud State University

Central Minnesota Economic And Business Conditions Report - First Quarter 2017, Richard A. Macdonald, King Banaian

Central Minnesota Economic and Business Conditions Report

The Central Minnesota planning area is expected to experience steady economic growth over the next several months according to predictions of the Central Minnesota Index of Leading Economic Indicators (LEI). The leading index rose by 2.03 points in the most recent period, with four components producing positive readings. Among other things, strength in a general measure of statewide business conditions and a small uptick in national durable goods orders helped lift the Central Minnesota planning area LEI in the first quarter.

There were 1,579 new business filings with the Office of the Minnesota Secretary of State in Central ...


Northeast Minnesota Economic And Business Conditions Report - First Quarter 2017, Richard A. MacDonald, King Banaian 2017 St. Cloud State University

Northeast Minnesota Economic And Business Conditions Report - First Quarter 2017, Richard A. Macdonald, King Banaian

Northeast Minnesota Economic and Business Conditions Report

Continued strong economic growth in Northeast Minnesota is expected over the next several months according to the predictions of the Northeast Minnesota Index of Leading Economic Indicators (LEI). Four of the five components of the LEI increased as the overall index surged by 6.25 points in the first quarter. An increase in the number of Duluth area residential building permits, an improvement in a general measure of statewide business conditions, a rise in a supply managers’ survey, and increased new filings of incorporation all helped lift this quarter’s index.

There were 626 new business filings with the Office ...


Borderplex Business Barometer, Volume 1, Number 7, Thomas M. Fullerton Jr., Adam G. Walke, Ernesto Duarte Ronquillo, Omar Solís 2017 University of Texas at El Paso

Borderplex Business Barometer, Volume 1, Number 7, Thomas M. Fullerton Jr., Adam G. Walke, Ernesto Duarte Ronquillo, Omar Solís

Border Region Modeling Project

No abstract provided.


New Evidence On State Fiscal Multipliers: Implications For State Policies, Timothy J. Bartik 2017 W.E. Upjohn Institute

New Evidence On State Fiscal Multipliers: Implications For State Policies, Timothy J. Bartik

Timothy J. Bartik

When state and local governments engage in balanced budget changes in taxes and spending, what fiscal multiplier effects do such policies have on creating local jobs? Traditionally, the view has been that possible job-creation effects of such state and local “demand-side” policies are smaller, second-order effects. Such effects might be worthwhile to take into consideration when a state or local government balances its budget during a recession, but the effects were believed to be of modest magnitude, and not of major importance for more general state and local public policies. However, recent estimates of fiscal multiplier effects of state and ...


Land Quality Perceptions In Expert Opinion Surveys: Evidence From Iowa, Wendong Zhang, Michael D. Duffy 2017 Iowa State University

Land Quality Perceptions In Expert Opinion Surveys: Evidence From Iowa, Wendong Zhang, Michael D. Duffy

Wendong Zhang

While many opinion-based surveys ask land values for different land quality classes, little is known how survey respondents perceive the land quality. Using the 2015 Iowa Land Value Survey, this article examines how respondents perceive land quality in their responses to land value questions. Our results show agricultural professionals seem to perceive land quality with respect to specific regions, and high, medium and low land quality should be interpreted locally within a crop reporting district. This case study suggests that it is difficult to generalize uniform yield or soil productivity index ranges for land quality questions in all opinion-based surveys.


Environmental Conservation In Agriculture: Land Retirement Versus Changing Practices On Working Land, Hongli Feng, Lyubov A. Kurkalova, Catherine L. Kling, Philip W. Gassman 2017 Iowa State University

Environmental Conservation In Agriculture: Land Retirement Versus Changing Practices On Working Land, Hongli Feng, Lyubov A. Kurkalova, Catherine L. Kling, Philip W. Gassman

Hongli Feng

The study develops a conceptual framework for analyzing the allocation of conservation funds via selectively offering incentive payments to farmers for enrolling in one of two mutually exclusive agricultural conservation programs: retiring land from production or changing farming practices on land that remains in production. We investigate how the existence of a pre-fixed budget allocation between the programs affects the amounts of environmental benefits obtainable under alternative policy implementation schemes. The framework is applied to a major agricultural production region using field-scale data in conjunction with empirical models of land retirement and conservation tillage adoption, and a biophysical process simulation ...


Economic And Environmental Co-Benefits Of Carbon Sequestration In Agricultural Soils: Retiring Agricultural Land In The Upper Mississippi River Basin, Hongli Feng, Lyubov A. Kurkalova, Catherine L. Kling, Philip W. Gassman 2017 Iowa State University

Economic And Environmental Co-Benefits Of Carbon Sequestration In Agricultural Soils: Retiring Agricultural Land In The Upper Mississippi River Basin, Hongli Feng, Lyubov A. Kurkalova, Catherine L. Kling, Philip W. Gassman

Hongli Feng

This study investigates the carbon sequestration potential and co-benefits from policies aimed at retiring agricultural land in the Upper Mississippi River Basin, a large, heavily agricultural area. We extend the empirical measurement of co-benefits from the previous focus on environmental benefits to include economic transfers. These transfers have often been mentioned as a co-benefit, but little empirical work measuring the potential magnitude of these transfers has previously been undertaken. We compare and contrast five targeting schemes, each based on maximizing different physical environmental measures, including carbon sequestration, soil erosion, nitrogen runoff, nitrogen leaching, as well as the area enrolled in ...


The Designation Of Co-Benefits And Its Implication For Policy: Water Quality Versus Carbon Sequestration In Agricultural Soils, Silvia Secchi, Manoj K. Jha, Lyubov A. Kurkalova, Hongli Feng, Philip W. Gassman, Catherine L. Kling 2017 Iowa State University

The Designation Of Co-Benefits And Its Implication For Policy: Water Quality Versus Carbon Sequestration In Agricultural Soils, Silvia Secchi, Manoj K. Jha, Lyubov A. Kurkalova, Hongli Feng, Philip W. Gassman, Catherine L. Kling

Hongli Feng

This study investigates the implications of treating different environmental benefits as the primary target of policy design. We focus on two scenarios, estimating for both of them in-stream sediment, nutrient loadings, and carbon sequestration. In the first, we assess the impact of a program designed to improve water quality in Iowa on carbon sequestration, and in the second, we calculate the water quality impact of a program aimed at maximizing carbon sequestration. In both cases, the policy instrument is the retirement of land from agricultural production. Our results, limited to the state of Iowa, and to the case of set-aside ...


The Conservation Reserve Program In The Presence Of A Working Land Alternative: Implications For Environmental Quality, Program Participation, And Income Transfer, Hongli Feng, Catherine L. Kling, Lyubov A. Kurkalova, Silvia Secchi, Philip W. Gassman 2017 Iowa State University

The Conservation Reserve Program In The Presence Of A Working Land Alternative: Implications For Environmental Quality, Program Participation, And Income Transfer, Hongli Feng, Catherine L. Kling, Lyubov A. Kurkalova, Silvia Secchi, Philip W. Gassman

Hongli Feng

The United States has invested large sums of resources in multiple conservation programs for agriculture over the past century. In this paper we focus on the impacts of program interactions. Specifically, using an integrated economic and bio-physical modeling framework, we consider the impacts of the presence of working land programs on a land retirement for an important agricultural region—the Upper Mississippi River Basin (UMRB). Compared to a land retirement only program, we find that the presence of a working land program for conservation tillage results in significantly lower predicted signups for land retirement at a given rental rate. We ...


Carbon Sequestration, Co-Benefits, And Conservation Programs, Hongli Feng, Catherine L. Kling, Philip W. Gassman 2017 Iowa State University

Carbon Sequestration, Co-Benefits, And Conservation Programs, Hongli Feng, Catherine L. Kling, Philip W. Gassman

Hongli Feng

Land use changes to sequester carbon also provide "co-benefits," some of which (for example, water quality) have attracted at least as much attention as carbon storage. The non-separability of these co-benefits presents a challenge for policy design. If carbon markets are employed, then social efficiency will depend on how we take into account co-benefits, that is, externalities, in such markets. If carbon sequestration is incorporated into conservation programs, then the weight given to carbon sequestration relative to its co-benefits will partly shape these programs. Using the Conservation Reserve Program (CRP) as an example, we show that CRP has been sequestering ...


Crop Residues: The Rest Of The Story, Douglas L. Karlen, Rattan Lal, Ronald F. Follett, John M. Kimble, Jerry L. Hatfield, John A. Miranowski, Cynthia A. Cambardella, Andrew Manale, Robert P. Anex, Charles W. Rice 2017 United States Department of Agriculture

Crop Residues: The Rest Of The Story, Douglas L. Karlen, Rattan Lal, Ronald F. Follett, John M. Kimble, Jerry L. Hatfield, John A. Miranowski, Cynthia A. Cambardella, Andrew Manale, Robert P. Anex, Charles W. Rice

Douglas L Karlen

Synopsis In the February 15, 2009 issue of ES&T Strand and Benford argued that oceanic deposition of agricultural crop residues was a viable option for net carbon sequestration (43 [4], 1000−1007). In reviewing the calculations and bringing their experience to bear, Karlen et al. argue in this Viewpoint that crop residue oceanic permanent sequestration (CROPS) as envisioned by Strand and Benford will not work. They further propose alternative possibilities in agricultural methods to achieve a net decrease of CO2 emissions.


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