Australian Journal of Agricultural and Resource Economics最新文献_第9页

Futures markets and price stabilisation: An analysis of soybeans markets in North America 期货市场与价格稳定：对北美大豆市场的分析

IF 3.2 3区经济学

Australian Journal of Agricultural and Resource Economics Pub Date : 2023-01-11 DOI: 10.1111/1467-8489.12504

Dragan Miljkovic, Cole Goetz

{"title":"Futures markets and price stabilisation: An analysis of soybeans markets in North America","authors":"Dragan Miljkovic, Cole Goetz","doi":"10.1111/1467-8489.12504","DOIUrl":"https://doi.org/10.1111/1467-8489.12504","url":null,"abstract":"The objective of this paper was to determine whether the futures markets have a stabilising or destabilising impact on soybean's spot prices in North America. Directed acyclic graphs (DAGs) are used to test for causality between futures prices, spot prices and ending stocks, followed by time series econometric analysis. The DAGs point to the two-way causal link between futures and spot prices and a lack of a causal link between inventory/stocks and spot price volatility. Time series results, including cointegration, vector error correction, impulse response and variance decomposition analysis, indicate a large impact from futures markets on the level and volatility of soybean spot prices in both the short and long run. These results have potentially important implications, as the impact of commodity price volatility is typically asymmetric across different actors. Farmers, for example, unlike speculators, utilise price risk management (PRM) instruments such as futures markets to mitigate price risks and appear to suffer from intensified volatility precisely because of their use of these instruments. Therefore, additional policies to cope with commodity price volatility, such as direct price controls or mitigation of consequences, can have critical stabilising functions supporting farmers' welfare and regional (rural) development.","PeriodicalId":55427,"journal":{"name":"Australian Journal of Agricultural and Resource Economics","volume":null,"pages":null},"PeriodicalIF":3.2,"publicationDate":"2023-01-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"50128904","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Consumers' willingness to pay for organic rice: Insights from a non-hypothetical experiment in Indonesia 消费者购买有机大米的意愿:来自印度尼西亚一项非假设实验的见解

IF 3.2 3区经济学

Australian Journal of Agricultural and Resource Economics Pub Date : 2023-01-05 DOI: 10.1111/1467-8489.12501

Michael Grimm, Nathalie Luck, Franziska Steinhübel

{"title":"Consumers' willingness to pay for organic rice: Insights from a non-hypothetical experiment in Indonesia","authors":"Michael Grimm, Nathalie Luck, Franziska Steinhübel","doi":"10.1111/1467-8489.12501","DOIUrl":"10.1111/1467-8489.12501","url":null,"abstract":"As in many high-income countries, there is increasing awareness towards organic farming in many low- and middle-income countries. Sustained local demand is an essential requirement for further adoption of organic farming by smallholders, who typically have only limited access to export markets. Until now, only few studies have explored the local willingness to pay (WTP) for organic products in low- and middle-income countries in real purchase situations. This paper analyses the consumers' WTP for organic rice in urban and suburban Indonesia using an incentive-compatible auction based on the Becker–DeGroot–Marschak (BDM) approach. We further study the effect of income and a randomised information treatment about the benefits of organic food on respondents' WTP. Estimates suggest that respondents are willing to pay an average price premium of 20% compared with what they paid for conventional rice outside our experiment. However, our results also indicate that raising consumers' WTP further is complex. Showing participants a video about health or, alternatively, environmental benefits of organic food was not effective in further raising WTP. The results can be used as a basis for the design of alternative awareness measures to increase knowledge, interest and demand for organic food.","PeriodicalId":55427,"journal":{"name":"Australian Journal of Agricultural and Resource Economics","volume":null,"pages":null},"PeriodicalIF":3.2,"publicationDate":"2023-01-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/1467-8489.12501","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44699261","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Size matters: Optimal management of dynamic systems with varying size 大小问题：不同大小的动态系统的优化管理

IF 3.2 3区经济学

Australian Journal of Agricultural and Resource Economics Pub Date : 2022-12-14 DOI: 10.1111/1467-8489.12500

Tiho Ancev, Karunagaran Madhavan

{"title":"Size matters: Optimal management of dynamic systems with varying size","authors":"Tiho Ancev, Karunagaran Madhavan","doi":"10.1111/1467-8489.12500","DOIUrl":"https://doi.org/10.1111/1467-8489.12500","url":null,"abstract":"Many natural and economic systems are managed to deliver the highest benefits to society but are subject to regime shifts. We specifically consider the variability of the size of the system itself as a key driver of a regime shift. We address the question of how the optimal management of these systems should vary with its size. Put simply, certain management options might work when the system is of a given size, while others might be preferred when the system has grown or shrunk. In this paper, we develop a model that allows us to analyse the effect of the size of the system on its optimal management. We apply this model to a case of water pollution in a reservoir/lake that varies in size over time: sometimes the lake is deep and sometimes it is shallow. Numerical simulations were conducted to compare optimal management of the reservoir with and without explicitly modelling its size variation. The findings show that the overall social costs of optimally managing pollution are significantly smaller when the variability in size is taken into account. This is due to differences in the timing and magnitude of the optimal control. The key implication is that the variability of the size of a system should be explicitly considered in this type of management problems.","PeriodicalId":55427,"journal":{"name":"Australian Journal of Agricultural and Resource Economics","volume":null,"pages":null},"PeriodicalIF":3.2,"publicationDate":"2022-12-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/1467-8489.12500","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"50141161","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 2

Size matters: Optimal management of dynamic systems with varying size 大小问题:具有不同大小的动态系统的最佳管理

IF 3.2 3区经济学

Australian Journal of Agricultural and Resource Economics Pub Date : 2022-12-14 DOI: 10.1111/1467-8489.12500

T. Ancev, K. Madhavan

引用次数: 2

Modelling the switch from hail insurance to antihail nets 模拟从冰雹保险到防冰雹网的转变

IF 3.2 3区经济学

Australian Journal of Agricultural and Resource Economics Pub Date : 2022-12-07 DOI: 10.1111/1467-8489.12499

Marco Rogna, Günter Schamel, Alex Weissensteiner

引用次数: 0

The impacts of price insulation on world wheat markets during the 2022 food price crisis 2022年粮食价格危机期间价格隔离对世界小麦市场的影响

IF 3.2 3区经济学

Australian Journal of Agricultural and Resource Economics Pub Date : 2022-11-10 DOI: 10.1111/1467-8489.12498

Will Martin, Nicholas Minot

引用次数: 3

Technology catch-up in agriculture among advanced economies 发达经济体在农业方面的技术追赶

IF 3.2 3区经济学

Australian Journal of Agricultural and Resource Economics Pub Date : 2022-11-03 DOI: 10.1111/1467-8489.12494

Virgil Eldon Ball, Carlos San Juan Mesonada, Carlos Sunyer Manteiga, Kennet Ericson, Yu Sheng

引用次数: 1

Global commodity market disruption and the fallout 全球大宗商品市场的混乱及其后果

IF 3.2 3区经济学

Australian Journal of Agricultural and Resource Economics Pub Date : 2022-11-02 DOI: 10.1111/1467-8489.12497

Shon Ferguson, David Ubilava

引用次数: 2

Russia’s invasion of Ukraine increased the synchronisation of global commodity prices 俄罗斯入侵乌克兰加剧了全球大宗商品价格的同步性

IF 3.2 3区经济学

Australian Journal of Agricultural and Resource Economics Pub Date : 2022-11-01 DOI: 10.1111/1467-8489.12496

Rico Ihle, Ziv Bar-Nahum, Oleg Nivievskyi, Ofir D. Rubin

{"title":"Russia’s invasion of Ukraine increased the synchronisation of global commodity prices","authors":"Rico Ihle, Ziv Bar-Nahum, Oleg Nivievskyi, Ofir D. Rubin","doi":"10.1111/1467-8489.12496","DOIUrl":"10.1111/1467-8489.12496","url":null,"abstract":"The Russian Federation’s efforts to expand its regional political influence culminated in launching a full-scale war of aggression on Ukraine on 24 February 2022. As both countries are large exporters of commodities crucial for global food and energy security, the resulting abrupt supply chains disruptions created substantial uncertainty in commodity markets worldwide. This study quantifies to what extent this major shock induced global commodity prices to move more synchronously by gauging their time-varying comovement. Using the concordance index, it analyses the development of 15 key global commodity price indices from January 2010 to July 2022. We find that the supply chains disruptions increased synchronisation of grain, energy and fertiliser prices at the global level in direction and magnitude. Moreover, they resulted in contagion across numerous food and non-food markets, creating a global covariate shock to food and energy security. Notably, the increased synchronisation at broad scale restricts the ability of consumers to mitigate the adverse effects of food and energy price inflation by resorting to inexpensive alternatives. Hence, policymakers must improve the resilience of global food supply chains sustainably such that adverse effects of attaining the Sustainable Development Goals in crises can be minimised.","PeriodicalId":55427,"journal":{"name":"Australian Journal of Agricultural and Resource Economics","volume":null,"pages":null},"PeriodicalIF":3.2,"publicationDate":"2022-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/1467-8489.12496","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45472250","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 13

Total factor productivity change in China's grain production sector: 1980–2018 中国粮食生产部门全要素生产率变化：1980-2018

IF 3.2 3区经济学

Australian Journal of Agricultural and Resource Economics Pub Date : 2022-10-31 DOI: 10.1111/1467-8489.12495

Zhihao Zheng, Shen Cheng, Shida R. Henneberry

引用次数: 2