Endogenous variables in structural models of agricultural commodity markets are typically treated as stationary. Yet, tests for unit roots have rather frequently implied that commodity prices are not stationary. This seeming inconsistency is investigated by focusing on alternative specifications of unit root tests. We apply various specifications to Illinois farm prices of corn, soybeans, barro...

This work defines a procedure to assess the socio-economic and environmental sustainability of agricultural systems with a particular attention to conventional and organic farming. Firstly, a mathematical programming model calculates the different multi-dimensional outcomes of Italian farms depending on various levels of prices affecting organic products. Those outcomes are the input data for a...

One of the major aims of the Structural Adjustment Programs, except from correcting short-term imbalances in the economy and creating an environment for sustained economic growth has been, according to the World Bank, to correct the urban-bias politics in Africa. The World Bank uses neo-classic economic models in their analysis of the characteristic of the urban-bias as well as its outcomes. Ac...

The last decade has witnessed different price trajectories in the international and Chinese agricultural commodity markets. This paper compares and contrasts these dynamic patterns between markets from the perspective of price bubbles. A newly developed right-tailed unit root testing procedure is applied to detect price bubbles in the CBOT and Chinese agricultural futures market during the peri...