Business Commons^™

Nebraska Monthly Economic Indicators: October 26, 2022, Eric Thompson

Leading Economic Indicator Reports

The LEI-N rose by 0.34% in September 2022, after a small decline in July and August. The leading indicator is designed to predict economic growth six months in the future. A flat value for the indicator over the last three months signals a stagnant economy in Nebraska at the end of 2022 and the beginning of 2023. Three components of the leading indicator improved during September. There was an increase in hours worked in the manufacturing industry. There was also a decline in initial claims for unemployment insurance and respondents to the September Survey of Nebraska Business reported plans to …

Historical Corn Price Evolution Implications For Pre-Harvest Hedging, Cory Walters, Richard K. Preston

Cornhusker Economics

Commodity markets evolve through information provided by participating buyers and sellers and throughout this process the conditions in which commodity markets work are revealed. Producer pre-harvest commodity marketing can be further developed by incorporating information on how commodity markets work, leading to better farm financial performance.

We investigate how commodity markets have historically evolved from spring to fall. While changes in future prices appear random in any given year, observing average daily prices over 32 years could uncover a seasonal tendency. In the past 32 years, the average daily price tends to be higher in the spring than the fall, …

New Cooperative Approaches: Successes And Opportunities, Charlotte Narjes

Cornhusker Economics

The National Cooperative Business Association CLUSA International states that there are 40,000 co-ops in the United States that range in size. Examples of cooperatives include the local Ace Hardware (purchasing cooperative) to Land O' Lakes. Cooperative businesses operate across virtually all industries, or sectors. The most common cooperative in Nebraska is the agricultural cooperative. According to the Nebraska Cooperative Council ag facts, in June 2020 there were 401 cooperatives located across the state providing jobs and services in many rural communities. In addition, there are over 64,400 farmers and ranchers that are voting members of Nebraska cooperatives with many members …

With No Deterrent Effect, The Wto Dispute Settlement Crisis Leaves Us Exporters Exposed, Especially Us Agriculture, Christine Mcdaniel

Yeutter Institute International Trade Policy Review

The absence of a functioning Appellate Body at the World Trade Organization (WTO) leaves the dispute settlement mechanism weakened, and countries may be more likely to pursue their domestic policy goals in ways that restrict trade. Industries with relatively large export exposure like US agriculture will be particularly vulnerable in this new chaotic regime. The deterrent effect is more important than you think An integral part of the world trading system has been the WTO’s dispute settlement mechanism, which enables the WTO to enforce the rules the Members signed up for. Knowing you could get sued in the WTO for …

On The Market For "Lemons": When Low Quality Does Not Drive High Quality Out Of The Market, Konstantinos Giannakas, Murray E. Fulton

Cornhusker Economics

In a research article published in Nature's Humanities and Social Sciences Communications (available at https://www.nature.com/articles/s4l 599-020-00658-w) we identify the conditions under which the introduction of a low -quality product does not drive its high-quality counterpart out of the market but, instead, ends-up coexisting with it. Using a theoretical framework of heterogeneous consumers and producers in the context of a market for quality- ( or vertically-) differentiated products supplied by producers differing in their production efficiency, we show that the equilibrium quality configuration in a market depends on both the unobservability of product quality by consumers and the relative costs …

Don't Let The Past Sink Your Future, Timothy Meyer

Cornhusker Economics

Decision scientists have many algorithms for making decisions. These algorithms can be qualitative and subjective, such as following a 7-step process, to highly quantitative procedures like minimax regret, or linear programming. These techniques are very different from each other, but in one way they are very similar; they never, ever suggest the manager become emotional and use past decisions to guide the future.

Past decisions and events should guide decision-making. They help managers assign probabilities as well assessing performance. Viewing these events and situations as permanent paths is where sunk costs become problematic.

Includes discussions of four scenarios.

Perceptions Of The Economy And Employment In Nonmetropolitan Nebraska: 2022 Nebraska Rural Poll Results, Rebecca J. Vogt, Heather Akin, Cheryl A. Burkhart-Kriesel, Bradley Lubben, L. J. Mcelravy, Timothy Meyer, Steven A. Schulz, Amanda Tupper

Nebraska Rural Poll

Most rural Nebraskans believe most of the listed economic items will become worse or much worse over the next 12 months when asked in May and June. Almost nine in ten think the following will become worse: inflation, gasoline or diesel fuel prices, grocery prices, and interest rates. In fact, at least four in ten rural Nebraskans believe the following items will become much worse in the next 12 months: gasoline or diesel fuel prices, inflation, grocery prices, and healthcare costs. The two items that had less than one-half believing they would become worse or much worse during the next …

New Plant Engineering Techniques, R&D Investment And International Trade, Stéphan Marette, Anne-Célia Disdier, Anastasia Bodnar, John C. Beghin

Department of Agricultural Economics: Faculty Publications

New plant engineering techniques (NPETs) may significantly improve both production and quality of foods. Some consumers and regulators around the world might be reluctant to accept such products and the global market penetration of these products may remain low. We develop a parsimonious economic model for R&D investment in food innovations to identify conditions under which NPET technology emerges in the context of international trade. The framework integrates consumers' willingness to pay (WTP) for the new food, the uncertainty of R&D processes, the associated regulatory cost of approval, and the competition between domestic and foreign products. With generic applicability, the …

A Strategic Audit Of Hasbro, William Weiner, Amanda Fuechtmann, Avery Smith, Michaela Webb, Zach Buhman

Honors Program: Senior Projects (Public)

This strategic audit dives into ten components of Hasbro’s strategic management. The first component discusses Hasbro’s history and current strategic leadership. This is followed by an analysis of the impacts of its external and internal environment. Next, the audit examines Hasbro’s recent performance and competition it faces in the Toy Wholesaling industry. The sixth, seventh, and eighth components consider different levels of strategy that Hasbro pursues. Lastly, the strategic audit considers Hasbro’s corporate governance and its organizational structure and controls.

Overall, we conclude that Hasbro is a mature company in a slow-growing industry. Its ability to translate its iconic and …

Work-Family Conflict, Sarah Stepanek, Megan Paul

Umbrella Summaries

What is work-family conflict?

Work-family conflict is defined as “a form of interrole conflict in which the role pressures from the work and family domains are mutually incompatible in some respect” (Greenhaus & Beutell, 1985, p. 77). Work-family conflict is often contrasted with work-family enrichment, which represents the positive spillover that can occur between the work and family domains. The idea of work-family conflict is grounded in resource drain theory, which suggests that individuals have limited physical, psychological, and social resources to draw on while performing in different roles. When individuals devote large quantities of their resources to one domain …

Work-Family Enrichment, Sarah Stepanek, Megan Paul

Umbrella Summaries

What is work-family enrichment?

Work-family enrichment is used to describe the positive benefits derived from spillover between work and family. Specifically, work-family enrichment is formally defined as “the extent to which experiences in one role improve the quality of life in the other role” (Greenhaus & Powell, 2006, p. 73). This is often contrasted with the concept of work-family conflict, which represents the negative spillover between the work and family domains. Work-family enrichment is often distinguished by the direction of its effect; benefits from work that are applied to the family domain are termed work-to-family enrichment (WFE), and benefits from …

The Storm In World Fertilizer Markets Continues, John C. Beghin

Cornhusker Economics

This article updates the recent article on world fertilizer markets by Beghin and Nogueira (2021), which noted the perfect storm affecting global fertilizer markets through high demand, droughts affecting fertilizer supply, high fossil energy prices, COVID 19-related supply-chain disruptions, and trade policies, all conspiring to elevate fertilizer nominal prices to levels not seen since 2008. In the last 10 months, the Ukraine-Russia war and associated trade sanctions have exacerbated the disruptions in fossil energy, grain, vegetable oil, and fertilizer markets already present in 2021. On the more hopeful side, some United States trade policy developments will help reduce US fertilizer …

Nebraska Monthly Economic Indicators: September 21, 2022, Eric Thompson

Leading Economic Indicator Reports

The LEI-N changed little in August 2022, falling by just 0.01%. The leading indicator is designed to predict economic growth six months in the future. As a result, the flat value for the indicator in August signals that economic growth in Nebraska will be slow at the beginning of 2023. Several components of the leading indicator worsened during August. First, there was a decrease in building permits for single-family homes, likely in response to rising interest rates. Second, initial claims for unemployment insurance rose during August, suggesting some softening of the state’s strong labor market. By contrast, positive business expectations …

Setting The Stage For The Next Farm Bill Debate, Bradley D. Lubben

Cornhusker Economics

The 2018 Farm Bill is set to expire in September 2023. New farm bill legislation will be needed by then if authority is to be extended for a wide range of programs from farm support to conservation, nutrition assistance, credit, trade promotion, rural development, research and education, and more.

The agricultural committees in Congress have already held initial hearings and many agricultural and other interest groups have noted their policy priorities. However, formal debate on a new farm bill is not expected to begin in earnest until early 2023 when a new session of Congress convenes.

While the formal debate …

Employee Engagement, Megan Paul

Umbrella Summaries

What is employee engagement?

Consensus on the exact definition of employee engagement is still evolving, but commonalities involve attitudes and behaviors related to high personal investment in one’s work. One definition is “a relatively enduring state of mind referring to the simultaneous investment of personal energies in the experience or performance of work” (Christian, Garza, & Slaughter, 2011, p. 95). The most commonly used measure of engagement, the Utrecht Work Engagement Scale, assesses engagement through three factors: vigor (high energy levels and persistence), dedication (enthusiasm and inspiration), and absorption (high concentration and engrossment) (Schaufeli, Salanova, Gonzalez-Roma, & Bakker, 2002; Schaufeli, …

Disagreements And Proper Respect In Farm/Ranch Succession, Allan Vyhnalek

Cornhusker Economics

Adapted from "Does Disrespect Have a Place in Your Ag Legacy?" Volume 6, Issue 1, February 2021, Ag Legacy, by Caleb Carter, consultant to the Department of Agricultural and Applied Economics in the University of Wyoming College of Agriculture and Natural Resources.

Briefly covers disagreements and proper respect in farm/ranch succession.

Reducing Property Taxes For Agriculture: Diffusion Of Use-Value Assessment Policy Across The United States, John E. Anderson, Seth H. Giertz, Shafiun N. Shimul

Department of Economics: Faculty Publications

We analyze the spread across the fifty states of use-value assessment (UVA) programs applied to agricultural and rural land for property tax purposes. Taxing land based on the value associated with its current use in agriculture rather than its full market value can confer substantial tax savings for landowners, affecting land use patterns. Using time-to-event models, we find that the secular trend toward urbanization across all fifty states was a driving force behind the spread of UVA policies. In particular, increasing secular trends in agricultural land values (associated with urbanization) provide a strong motivation for agriculture to pursue UVA, and …

Employee Fit, Sarah Stepanek, Megan Paul

Umbrella Summaries

What is employee fit?

Broadly defined, fit is said to be the “compatibility between individuals and organizations” (Kristof, 1996, p. 3). Early theories of fit proposed that alignment between individuals’ personalities and their environment would lead to greater personal success and happiness; for example, those with social personalities would find the greatest fulfillment in work roles involving helping people, such as a social worker or nurse (Holland, 1985). Since then, the idea of fit has been expanded to include not just alignment of personality, but also attitudes, values, preferences, needs, goals, knowledge, skills, and abilities (Kristof-Brown et al., 2005). Fit …

Nebraska Monthly Economic Indicators: August 24, 2022, Eric Thompson

Leading Economic Indicator Reports

The LEI-N fell by 0.08% during July 2022. The decrease in the leading indicator, which is designed to predict economic activity six months in the future, signals that economic growth in Nebraska will be slow at the end of 2022 and the beginning of 2023. The indicator declined for two primary reasons. First, there was an increase in the value of the U.S. dollar in July, creating challenges for agriculture, manufacturers, and other businesses that compete in international markets. Second, there was a decline in airline passenger counts in July, likely in response to large increases in airline ticket prices. …

Flexible Cropland Lease Arrangements Across Nebraska In 2022, Jim Jansen, Jeffrey Stokes

Cornhusker Economics

Survey results shown and discussed in this report are findings from the University of Nebraska-Lincoln's 2022 Nebraska Farm Real Estate Market Survey. Complete results from the survey may be found at the Nebraska Farm Real Estate website: http://cap.unl.edu/realestate.

Can Geopolitics Help Restore Missing Tools To The U.S. Trade Toolbox?, Matthew Schaefer

Yeutter Institute International Trade Policy Review

When U.S. trade negotiators and trade litigators seek to increase market access for U.S. goods and services abroad, they look in their toolbox to see what might be the best tool. The more well-stocked the toolbox, the more possibilities for increasing foreign market access. Today, when U.S. trade negotiators look in their toolbox, they see several traditional tools missing, specifically legally-binding, comprehensive (including tariff-cutting) regional and bilateral free trade agreements (FTAs) and large package deals within the World Trade Organization (WTO). Their trade litigator colleagues face a similar circumstance of missing traditional tools, specifically the loss of binding two-level dispute …

Central Data Storage Newly Located At Innovation Campus, University Communication

Nebraska Innovation Campus Materials

Nebraska Innovation Campus has announced a new partner. Dan Duncan, NIC’s executive director, said Central Data Storage recently moved into its office space on the campus. Central Data Storage is a software and services company that offers business-critical data backup and recovery as well as encrypted messaging for highly regulated businesses. Central Data Storage provides daily account monitoring, in-house support, and military grade file encryption that ensures a company’s digital assets are protected, as well as a 24-hour recovery guarantee.

Berry Study Leads To Sweet Faculty Startup, Kateri Hartman

Nebraska Innovation Campus Materials

When the American Aronia Berry Association approached Husker researcher Changmou Xu with a problem, he set out to solve it in a big way. He and his wife and co-founder, Xiaoqing Xie, have worked with numerous campus entities to increase the value of the aronia berry through their startup, A+ Berry. The company is focused on juice products made from aronia berries. Due to their astringency,the berries don’t have an inherent demand; however, they have great potential to impact the Midwest and beyond through their high return value as a crop and impressive health benefits.They boast significantly higher levels of …

Sensory Lab Offers Variety Of Testing To Suit Client Needs, Kateri Hartman

Nebraska Innovation Campus Materials

The Sensory Analysis Lab, housed within the Food Processing Center on Nebraska Innovation Campus, fills a niche need for low-cost, high-value insights for food product developers and companies. The sensory lab offers companies consumer insights about new products and those that undergo ingredient substitutions. This unique offering helps food companies determine whether their products are ready for market, among many other things. “We’re a good resource for those smaller to medium-sized companies that are wanting quick and fairly inexpensive feedback,” said Julie Reiling, manager of the sensory lab.

Nebraska Monthly Economic Indicators: August 1, 2022, Eric Thompson

Leading Economic Indicator Reports

The LEI-N rose by 0.68% during June 2022. The increase in the leading indicator, which is designed to predict economic activity six months in the future, signals that the Nebraska economy will grow slowly through the end of 2022. The indicator improved for two primary reasons. First, there was an increase in manufacturing hours-worked during June. Second, respondents to the June Survey of Nebraska Business reported plans to increase sales and employment.

Disability Inclusion, Quality Improvement Center For Workforce Development

Workforce Analytics Resources

The following resources provide information to help agencies create disability-inclusive workplace policies and practices. The Office of Disability Employment Policy (ODEP) is a non-regulatory federal agency that promotes policies and coordinates with employers and all levels of government to increase workplace success for people with disabilities. The Employer Assistance and Resource Network on Disability Inclusion (EARN) is an ODEP technical assistance center that provides resources to help employers recruit, hire, retain, and advance individuals with disabilities and comply with their responsibilities under the ADA. Inclusion@Work: A Framework for Building a Disability-Inclusive Organization allows organizations to explore strategies for creating disability-inclusive …

Cecl For Financial Institutions: An Analysis Of The Scale Method, Jared Stauffer

Department of Agricultural Economics: Dissertations, Theses, and Student Research

Released by the Federal Reserve Bank in June of 2021, the Scaled CECL Allowance for Loss Estimator (SCALE) is meant to assist community banks implementing the new Current Expected Credit Loss (CECL) accounting standard. The efficacy of this method is important to community banks and financial institutions considering the use of SCALE to estimate expected future losses. Using quarterly Call Report data, two separate analyses of the SCALE method are conducted. First for qualifying community banks and second for Farm Credit Services of America, an agricultural credit association within the Farm Credit System. For the first quarter of 2022, both …

Markets With Within-Type Adverse Selection, Anh Nguyen, Teck Yong Tan

Department of Economics: Faculty Publications

We study bilateral trade with a seller owning multiple units of a good, where each unit is of binary quality. The seller privately knows her “type”—defined by the number of lemons that she owns — and which units in her endowments are the lemons (“withintype adverse selection”). We characterize the set of informationally constrained Pareto optimal allocations and show that every such allocation must involve a trade characterized by a threshold λ^∗, with types having less (more) than λ^∗ units of lemons selling only their lemons (selling their entire endowment). We provide conditions for a …

Innovation Studio Volunteer Receives Quilt Of Valor For Work With Veterans, Deann Gayman

Nebraska Innovation Campus Materials

Jim Young was wrapped in gratitude and honor for the many lives he’s touched—including hundreds of veterans—when he received a Quilt of Valor during a presentation July 29 at the University of Nebraska–Lincoln’s Nebraska Innovation Studio. At the presentation, Young was flanked by sister-in-law, Pat Young, and wife, Victoria, and seated near the same lathes he’s spent countless hours standing over to train veterans on woodturning. They are lessons that double as therapy, helping the veterans heal. In his remarks, [Jerry] Reif [Innovation Studio assistant director] said that 227 veterans have benefited from the program, with an average of 30 …

Role Stress, Sarah Stepanek, Megan Paul

Umbrella Summaries

What is role stress?

A work role consists of “a pattern of behaviors perceived by an employee as behaviors that are expected” (Tubre & Collins, 2000, p. 156). When perceived work role expectations are unclear, incompatible with other expected behaviors, or too much to handle, role stress is said to occur (Tubre & Collins, 2000). Role stress is typically broken down into three main types: role ambiguity, role conflict, and role overload. Role ambiguity refers to a situation in which employees are unsure about what their responsibilities are, what behaviors are expected of them, and what the standards are for …