東華大學圖書館 |

Language: English

Help

回圖書館首頁

手機版館藏查詢

Back

Switch To: Labeled | MARC Mode | ISBD

Agricultural arbitrage, adjustment c...

Tack, Jesse Brian.

Linked to FindBook

Google Book

Amazon

博客來

Agricultural arbitrage, adjustment costs, and the intensive margin.

Record Type:	Language materials, printed : Monograph/item
Title/Author:	Agricultural arbitrage, adjustment costs, and the intensive margin./
Author:	Tack, Jesse Brian.
Description:	103 p.
Notes:	Source: Dissertation Abstracts International, Volume: 71-06, Section: A, page: 2158.
Contained By:	Dissertation Abstracts International71-06A.
Subject:	Economics, General. -
Online resource:	http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=3411061
ISBN:	9781124035734

Agricultural arbitrage, adjustment costs, and the intensive margin.
Tack, Jesse Brian.

Agricultural arbitrage, adjustment costs, and the intensive margin. - 103 p.

Source: Dissertation Abstracts International, Volume: 71-06, Section: A, page: 2158.

Thesis (Ph.D.)--University of California, Berkeley, 2009.

Farmland and capital are an important and rapidly expanding component of the agricultural economy, end empirical evidence suggests that these assets are quasi-fixed in that adjustment costs are incurred when holdings are altered. Increased interest in the rate of return for investing in farmland suggests that an important consideration is the effect of adjustment costs on this return. A novel theoretical model is developed that ties together contributions from the farmland pricing and adjustment cost literatures, and the first order conditions for a utility maximizing decision maker are rearranged into intertemporal arbitrage equations that are similar in spirit to traditional finance models. The common assumptions that land and capital are quasi-fixed assets, and that production is characterized by constant returns to scale are tested and the evidence supports these assumptions. An empirical application of the arbitrage equations provides evidence that risk aversion and adjustment costs are jointly significant components of agricultural production, and that adjustment costs generate significant changes in the rate of return to farmland. The results have important policy implications as sluggish supply response due to quasi-fixity can lead to dramitically inflated commidity prices, and an accurate measure of the farmland return can help determine how far the extensive margin will expand or contract in response to a variety of policy scenarios, such as the subsidization of corn for ethanol, an increase in the variety of subsidized crop insurance products, or the introduction of new revenue support programs such as ACRE.

ISBN: 9781124035734Subjects--Topical Terms:

1017424
Economics, General.

Agricultural arbitrage, adjustment costs, and the intensive margin.
LDR:02590nam 2200289 4500 001 1395032
005 20110506125550.5
008 130515s2009 ||||||||||||||||| ||eng d
020 $a 9781124035734
035 $a (UMI)AAI3411061
035 $a AAI3411061
040 $a UMI $c UMI
100 1 $a Tack, Jesse Brian. $3 1673693
245 1 0 $a Agricultural arbitrage, adjustment costs, and the intensive margin.
300 $a 103 p.
500 $a Source: Dissertation Abstracts International, Volume: 71-06, Section: A, page: 2158.
500 $a Advisers: Jeffrey LaFrance; Larry Karp.
502 $a Thesis (Ph.D.)--University of California, Berkeley, 2009.
520 $a Farmland and capital are an important and rapidly expanding component of the agricultural economy, end empirical evidence suggests that these assets are quasi-fixed in that adjustment costs are incurred when holdings are altered. Increased interest in the rate of return for investing in farmland suggests that an important consideration is the effect of adjustment costs on this return. A novel theoretical model is developed that ties together contributions from the farmland pricing and adjustment cost literatures, and the first order conditions for a utility maximizing decision maker are rearranged into intertemporal arbitrage equations that are similar in spirit to traditional finance models. The common assumptions that land and capital are quasi-fixed assets, and that production is characterized by constant returns to scale are tested and the evidence supports these assumptions. An empirical application of the arbitrage equations provides evidence that risk aversion and adjustment costs are jointly significant components of agricultural production, and that adjustment costs generate significant changes in the rate of return to farmland. The results have important policy implications as sluggish supply response due to quasi-fixity can lead to dramitically inflated commidity prices, and an accurate measure of the farmland return can help determine how far the extensive margin will expand or contract in response to a variety of policy scenarios, such as the subsidization of corn for ethanol, an increase in the variety of subsidized crop insurance products, or the introduction of new revenue support programs such as ACRE.
590 $a School code: 0028.
650 4 $a Economics, General. $3 1017424
650 4 $a Economics, Agricultural. $3 626648
690 $a 0501
690 $a 0503
710 2 $a University of California, Berkeley. $3 687832
773 0 $t Dissertation Abstracts International $g 71-06A.
790 1 0 $a LaFrance, Jeffrey, $e advisor
790 1 0 $a Karp, Larry, $e advisor
790 $a 0028
791 $a Ph.D.
792 $a 2009
856 4 0 $u http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=3411061