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Full-Text Articles in Econometrics

Determinants Of Iowa Cropland Cash Rental Rates: Testing Ricardian Rent Theory, Xiaodong Du, David A. Hennessy, William M. Edwards Jul 2016

Determinants Of Iowa Cropland Cash Rental Rates: Testing Ricardian Rent Theory, Xiaodong Du, David A. Hennessy, William M. Edwards

William Edwards

Based on the Ricardian rent theory, this study employs the variable profit function to analyze the determinants of Iowa cropland cash rental rates using county-level panel data from 1987 to 2005. Accounting for spatial and temporal autocorrelations, responses of local cash rental rates to changes in output prices and other exogenous variables are estimated. We find that Iowa cash rental rates are largely determined by output/input prices, soil quality, relative location, and other county-specific factors. Cash rents go up by $79 for a $1 increase in corn price in the short run. The marginal value of cropland quality, as represented …


Does A Rising Biofuels Tide Raise All Boats? A Study Of Cash Rent Determinants For Iowa Farmland Under Hay And Pasture, Xiaodong Du, David A. Hennessy, William M. Edwards Jul 2016

Does A Rising Biofuels Tide Raise All Boats? A Study Of Cash Rent Determinants For Iowa Farmland Under Hay And Pasture, Xiaodong Du, David A. Hennessy, William M. Edwards

William Edwards

Iowa's farmland consists of over 16% hay crops and pastureland, a significant portion of which is under cash rental contracts. This study investigates the comparative relationships between cash rental rates for cropped land and non-cropped land, where the latter includes hay and pastureland. We find that higher crop prices resulting from biofuel demand induces land use conversion from non-cropped land to crop production and thus bids up non-cropped land rents. Compared with changes in cropped land cash rents, non-cropped farmland rents could increase by a higher percentage. Non-cropped land cash rental rates are largely determined by crop and feeder cattle …


Does A Rising Biofuels Tide Raise All Boats? A Study Of Cash Rent Determinants For Iowa Farmland Under Hay And Pasture, Xiaodong Du, David A. Hennessy, William M. Edwards Jul 2016

Does A Rising Biofuels Tide Raise All Boats? A Study Of Cash Rent Determinants For Iowa Farmland Under Hay And Pasture, Xiaodong Du, David A. Hennessy, William M. Edwards

William Edwards

Iowa's farmland consists of over 16% hay crops and pastureland, a significant portion of which is under cash rental contracts. This study investigates the comparative relationships between cash rental rates for cropped land and non-cropped land, where the latter includes hay and pastureland. We find that higher crop prices resulting from biofuel demand induces land use conversion from non-cropped land to crop production and thus bids up non-cropped land rents. Compared with changes in cropped land cash rents, non-cropped farmland rents could increase by a higher percentage. Non-cropped land cash rental rates are largely determined by crop and feeder cattle …


Determinants Of Iowa Cropland Cash Rental Rates: Testing Ricardian Rent Theory, Xiaodong Du, David A. Hennessy, William M. Edwards Jul 2016

Determinants Of Iowa Cropland Cash Rental Rates: Testing Ricardian Rent Theory, Xiaodong Du, David A. Hennessy, William M. Edwards

William Edwards

Based on the Ricardian rent theory, this study employs the variable profit function to analyze the determinants of Iowa cropland cash rental rates using county-level panel data from 1987 to 2005. Accounting for spatial and temporal autocorrelations, responses of local cash rental rates to changes in output prices and other exogenous variables are estimated. We find that Iowa cash rental rates are largely determined by output/input prices, soil quality, relative location, and other county-specific factors. Cash rents go up by $79 for a $1 increase in corn price in the short run. The marginal value of cropland quality, as represented …


Does A Rising Biofuels Tide Raise All Boats? A Study Of Cash Rent Determinants For Iowa Farmland Under Hay And Pasture, Xiaodong Du, David A. Hennessy, William M. Edwards Jul 2016

Does A Rising Biofuels Tide Raise All Boats? A Study Of Cash Rent Determinants For Iowa Farmland Under Hay And Pasture, Xiaodong Du, David A. Hennessy, William M. Edwards

William Edwards

Iowa's farmland consists of over 16% hay crops and pastureland, a significant portion of which is under cash rental contracts. This study investigates the comparative relationships between cash rental rates for cropped land and non-cropped land, where the latter includes hay and pastureland. We find that higher crop prices resulting from biofuel demand induces land use conversion from non-cropped land to crop production and thus bids up non-cropped land rents. Compared with changes in cropped land cash rents, non-cropped farmland rents could increase by a higher percentage. Non-cropped land cash rental rates are largely determined by crop and feeder cattle …


Does A Rising Biofuels Tide Raise All Boats? A Study Of Cash Rent Determinants For Iowa Farmland Under Hay And Pasture, Xiaodong Du, David A. Hennessy, William M. Edwards Jul 2016

Does A Rising Biofuels Tide Raise All Boats? A Study Of Cash Rent Determinants For Iowa Farmland Under Hay And Pasture, Xiaodong Du, David A. Hennessy, William M. Edwards

William Edwards

Iowa's farmland consists of over 16% hay crops and pastureland, a significant portion of which is under cash rental contracts. This study investigates the comparative relationships between cash rental rates for cropped land and non-cropped land, where the latter includes hay and pastureland. We find that higher crop prices resulting from biofuel demand induces land use conversion from non-cropped land to crop production and thus bids up non-cropped land rents. Compared with changes in cropped land cash rents, non-cropped farmland rents could increase by a higher percentage. Non-cropped land cash rental rates are largely determined by crop and feeder cattle …


Determinants Of Iowa Cropland Cash Rental Rates: Testing Ricardian Rent Theory, Xiaodong Du, David A. Hennessy, William M. Edwards Jul 2016

Determinants Of Iowa Cropland Cash Rental Rates: Testing Ricardian Rent Theory, Xiaodong Du, David A. Hennessy, William M. Edwards

William Edwards

Based on the Ricardian rent theory, this study employs the variable profit function to analyze the determinants of Iowa cropland cash rental rates using county-level panel data from 1987 to 2005. Accounting for spatial and temporal autocorrelations, responses of local cash rental rates to changes in output prices and other exogenous variables are estimated. We find that Iowa cash rental rates are largely determined by output/input prices, soil quality, relative location, and other county-specific factors. Cash rents go up by $79 for a $1 increase in corn price in the short run. The marginal value of cropland quality, as represented …


Price Discontinuities In The Market For Rins, Charles F. Mason, Neil A. Wilmot Dec 2015

Price Discontinuities In The Market For Rins, Charles F. Mason, Neil A. Wilmot

Charles F Mason

No abstract provided.


A Multivariate Analysis Of The Causal Flow Between Renewable Energy Consumption And Gdp In Tunisia, Maamar Sebri, Ousama Ben-Salha Nov 2014

A Multivariate Analysis Of The Causal Flow Between Renewable Energy Consumption And Gdp In Tunisia, Maamar Sebri, Ousama Ben-Salha

Maamar Sebri

This paper examines the causality linkages between economic growth, renewable energy consumption, CO2 emissions and domestic investment in Tunisia between 1971 and 2010. Using the ARDL bounds testing approach to cointegration, long-run relationships between the variables are identified. On the other hand, the Granger causality analysis indicates that there is bi-directional causality between renewable energy consumption and economic growth, which supports the validity of the feedback hypothesis. In addition, the quantity of CO2 emissions collapses as a reaction to an increase in renewable energy consumption. These findings remain robust even when controlling for the presence of structural break. We conclude …


Do Weather Fluctuations Cause People To Seek Information About Climate Change?, Corey Lang Jul 2014

Do Weather Fluctuations Cause People To Seek Information About Climate Change?, Corey Lang

Corey Lang

Learning about the causes and consequences of climate change can be an important avenue for supporting mitigation policy and efficient adaptation. This paper uses internet search activity data, a distinctly revealed preference approach, to examine if local weather fluctuations cause people to seek information about climate change. The results suggest that weather fluctuations do have an effect on climate change related search behavior, however not always in ways that are consistent with the projected impacts of climate change. While search activity increases with extreme heat in summer and extended periods of no rainfall and declines in extreme cold in winter, …


The Windy City: Property Value Impacts Of Wind Turbines In An Urban Setting, Corey Lang, James J. Opaluch Jun 2014

The Windy City: Property Value Impacts Of Wind Turbines In An Urban Setting, Corey Lang, James J. Opaluch

Corey Lang

This paper examines the impact of wind turbines on house values in Rhode Island. In contrast to wind farms surrounded by sparse development, in Rhode Island single turbines have been built in relatively high population dense areas. As a result, we observe 48,554 single-family, owner-occupied transactions within five miles of a turbine site, including 3,254 within one mile, which is far more than most related studies. We estimate hedonic difference-in-differences models that allow for impacts of wind turbines by proximity, viewshed, and contrast with surrounding development. Across a wide variety of specifications, the results suggest that wind turbines have no …


Use Renewables To Be Cleaner: Meta-Analysis Of The Renewable Energy Consumption-Economic Growth Nexus, Maamar Sebri Jan 2014

Use Renewables To Be Cleaner: Meta-Analysis Of The Renewable Energy Consumption-Economic Growth Nexus, Maamar Sebri

Maamar Sebri

No abstract provided.


Does The Quality Of Electricity Matter? Evidence From Rural India, Ujjayant Chakravorty, Martino Pelli, Beyza Ural Marchand Dec 2013

Does The Quality Of Electricity Matter? Evidence From Rural India, Ujjayant Chakravorty, Martino Pelli, Beyza Ural Marchand

Ujjayant Chakravorty

This paper estimates the returns to household income due to improved access to electricity in rural India. We examine the effect of connecting a household to the grid and of the quality of electricity, defined as hours of daily supply. The analysis is based on two rounds of a representative panel of more than 10,000 households. We use the district-level density of transmission cables as instrument for the electrification status of the household. We find that a grid connection increases non-agricultural incomes of rural households by about 9 percent during the study period (1994-2005). However, a grid connection and a …


A Multivariate Analysis Of The Causal Flow Between Renewable Energy Consumption And Gdp In Tunisia, Maamar Sebri, Ousama Ben Salha Dec 2013

A Multivariate Analysis Of The Causal Flow Between Renewable Energy Consumption And Gdp In Tunisia, Maamar Sebri, Ousama Ben Salha

Maamar Sebri

No abstract provided.


On The Causal Dynamics Between Economic Growth, Renewable Energy Consumption, Co2 Emissions And Trade Openness: Fresh Evidence From Brics Countries, Maamar Sebri Dec 2013

On The Causal Dynamics Between Economic Growth, Renewable Energy Consumption, Co2 Emissions And Trade Openness: Fresh Evidence From Brics Countries, Maamar Sebri

Maamar Sebri

The current study investigates the causal relationship between economic growth and renewable energy consumption in the BRICS countries over the period 1971–2010 within a multivariate framework. The ARDL bounds testing approach to cointegration and vector error correction model (VECM) are used to examine the long-run and causal relationships between economic growth, renewable energy consumption, trade openness and carbon dioxide emissions. Empirical evidence shows that, based on the ARDL estimates, there exist long-run equilibrium relationships among the competing variables. Regarding the VECM results, bi-directional Granger causality exists between economic growth and renewable energy consumption, suggesting the feedback hypothesis, which can explain …


Environmental In Services, Massimiliano Mazzanti Jul 2013

Environmental In Services, Massimiliano Mazzanti

Massimiliano Mazzanti

No abstract provided.


Cointegration Analysis Of Oil Prices And Consumer Price Index In South Africa Using Stata Software, Mphumuzi A. Sukati Mr Jan 2013

Cointegration Analysis Of Oil Prices And Consumer Price Index In South Africa Using Stata Software, Mphumuzi A. Sukati Mr

Mphumuzi A Sukati Mr

This paper investigates the concept of vector autoregression (VAR) and cointegration using a bivariate model of global oil prices and headline Consumer Price Index (CPI) in South Africa. The study aims to determine how much of inflation is driven by oil prices. Particular attention is paid to the theoretical underpinnings of cointergration analysis and the application of STATA software to undertake such analysis and perform test statistics. Contrary to the popular myth that a rise in global oil prices fuels inflation, this study has observed that global oil prices are not the drivers of inflation in South Africa. In this …


Clustering And Polarization In The Distribution Of Output: A Multivariate Perspective, Michele Battisti, Christopher Parmeter Dec 2012

Clustering And Polarization In The Distribution Of Output: A Multivariate Perspective, Michele Battisti, Christopher Parmeter

Christopher F. Parmeter

No abstract provided.


Nonparametric Kernel Regression With Multiple Predictors And Multiple Shape Constraints, Pang Du, Christopher Parmeter, Jeffrey Racine Dec 2012

Nonparametric Kernel Regression With Multiple Predictors And Multiple Shape Constraints, Pang Du, Christopher Parmeter, Jeffrey Racine

Christopher F. Parmeter

No abstract provided.


Embarrassingly Easy Embarrassingly Parallel Processing In R: Implementation And Reproducibility, Michael Delgado, Christopher Parmeter Dec 2012

Embarrassingly Easy Embarrassingly Parallel Processing In R: Implementation And Reproducibility, Michael Delgado, Christopher Parmeter

Christopher F. Parmeter

No abstract provided.


What Can We Learn From Benefit Transfer Errors? Evidence From 20 Years Of Research On Convergent Validity, Sapna Kaul, Kevin Boyle, Nicolai Kuminoff, Christopher Parmeter, Jaren Pope Dec 2012

What Can We Learn From Benefit Transfer Errors? Evidence From 20 Years Of Research On Convergent Validity, Sapna Kaul, Kevin Boyle, Nicolai Kuminoff, Christopher Parmeter, Jaren Pope

Christopher F. Parmeter

No abstract provided.


Due Diligence In Meta-Analysis To Support Benefit Transfer, Kevin Boyle, Christopher Parmeter, Brent Boehlert, Robert Paterson Dec 2012

Due Diligence In Meta-Analysis To Support Benefit Transfer, Kevin Boyle, Christopher Parmeter, Brent Boehlert, Robert Paterson

Christopher F. Parmeter

No abstract provided.


Data-Driven Model Evaluation: A Test For Revealed Performance, Jeffrey Racine, Christopher Parmeter Dec 2012

Data-Driven Model Evaluation: A Test For Revealed Performance, Jeffrey Racine, Christopher Parmeter

Christopher F. Parmeter

No abstract provided.


Regression And Inference Under Smoothness Restrictions, Christopher Parmeter, Kai Sun, Daniel Henderson, Subal Kumbhakar Dec 2012

Regression And Inference Under Smoothness Restrictions, Christopher Parmeter, Kai Sun, Daniel Henderson, Subal Kumbhakar

Christopher F. Parmeter

No abstract provided.


Does Education Matter For Economic Growth?, Michael Delgado, Daniel J. Henderson, Christopher Parmeter Dec 2012

Does Education Matter For Economic Growth?, Michael Delgado, Daniel J. Henderson, Christopher Parmeter

Christopher F. Parmeter

Empirical economic research typically uses education as a proxy for human capital. However, research aimed at validating the inclusion of education measures in growth regressions has yet to reach a consensus, often finding that the sign and significance of education depends on the sample of observations or the specification of the model. The goal of this paper is to reconcile the conflicting empirical evidence and validate (or invalidate) the inclusion of education in international growth regressions by providing a rigorous and systematic search for significance of education. Using methods which are largely immune to model misspecification, we examine six of …


A Zero Inefficiency Stochastic Frontier Estimator, Subal C. Kumbhakar, Christopher Parmeter, Efthymios G. Tsionas Dec 2012

A Zero Inefficiency Stochastic Frontier Estimator, Subal C. Kumbhakar, Christopher Parmeter, Efthymios G. Tsionas

Christopher F. Parmeter

Traditional stochastic frontier models impose inefficient behavior on all firms in the sample of interest. If the data under investigation represent a mixture of both fully efficient and inefficient firms then off-the-shelf frontier models are statistically inadequate. We introduce a zero-inflated stochastic frontier model which can accommodate the presence of both efficient and inefficient firms in the sample. We derive the corresponding log-likelihood function, conditional mean of inefficiency to estimate observation-specific inefficiency and discuss testing for the presence of fully efficient firms. We provide both simulated evidence as well as an empirical example which demonstrates the applicability of the proposed …


Human Capital Formation And Economic Development In Pakistan: An Empirical Analysis, Muhammad Irfan Chani, Mahboob Ul Hassan, Muhammad Shahid May 2012

Human Capital Formation And Economic Development In Pakistan: An Empirical Analysis, Muhammad Irfan Chani, Mahboob Ul Hassan, Muhammad Shahid

Muhammad Irfan Chani

This study investigates the casual relationship between economic development and formation of human capital in Pakistan. Based on endogenous growth theory, this study empirically tests the standard growth model consisting of gross domestic product (GDP) per capita as a dependent variable and human capital formation, investment in physical capital and labor force as independent variables. Autoregressive distributive lag (ARDL) bound testing approach to cointegration is used to check the long-run equilibrium relationship between the variables included in the model. For checking the causal relationship between economic development and human capital formation, pair-wise Granger causality test is used for time series …


Some Socio Economic Determinants Of Fertility In Pakistan: An Empirical Analysis, Muhammad Irfan Chani, Muhammad Shahid, Mahboob Ul Hassan Apr 2012

Some Socio Economic Determinants Of Fertility In Pakistan: An Empirical Analysis, Muhammad Irfan Chani, Muhammad Shahid, Mahboob Ul Hassan

Muhammad Irfan Chani

This study aims to investigate the role that various socioeconomic factors like female education, urbanization and female labour force participation play in determining fertility of women in Pakistan. ARDL bound test approach to cointegration is used to analyze the long-run relationship of the variables by using the data for the period from 1980 to 2009. The empirical results show that there exists a long-run as well as short-run relationship between fertility and urbanization, female labour force participation and female education in Pakistan. The analysis indicates there is a negative relationship between all 3 determinants with fertility. Female education and urbanization …


Payments For Ecosystem Services (Pes): Evolution Towards Efficient And Fair Incentives For Multifunctional Landscapes Jan 2012

Payments For Ecosystem Services (Pes): Evolution Towards Efficient And Fair Incentives For Multifunctional Landscapes

Rohit Jindal

No abstract provided.


A Simple Method To Visualize Results In Nonlinear Regression Models, Daniel Henderson, Subal Kumbhakar, Christopher Parmeter Dec 2011

A Simple Method To Visualize Results In Nonlinear Regression Models, Daniel Henderson, Subal Kumbhakar, Christopher Parmeter

Christopher F. Parmeter

No abstract provided.