Haspel’s Washington Post article: Why do taxpayers subsidize rich farmers?

Image from http://www.cgpgrey.com [CC BY 2.0], via Wikimedia Commons Tamar Haspel has an article in yesterday’s Washington Post titled, “Why do taxpayers subsidize rich farmers?” The article is a take on the USDA’s recent report “The Evolving Distribution of Payments From Commodity, Conservation, and Federal Crop Insurance Programs”“, by McFadden and Hoppe that looks at…

Incentives Matter: A Proposal to Speed up Academic Publishing

Publishing in an academic journal is a long and grueling process. But much of the length of time is spent simply waiting for reviewers - who are volunteer and unpaid - to do the hard work of determining contribution and quality of the submitted manuscript. **Edited: Thanks to @FarmerHayek and @AparnaHowlader for pointing me to…

How does Machine Learning fit into Agricultural Economics?

Photo by Dirk Vorderstraße (Mähdrescher von John Deere in der Warburger Börde) [CC BY 2.0], via Wikimedia Commons Machine learning and artificial intelligence are the biggest topics in tech right now, and the excitement is spilling over to economics. The 2018 ASSA meetings (I did not attend, just browsed the program) had at least five…

Basic Time-Series Analysis, the Game

Update: Posts in this series Introduction and Stationary versus Unit Roots (this post) Single Equation Models, ARIMA Single Equation Models, GARCH Multiple Equation Models, VAR Multiple Equation Models, Cointegration and VECM Roadmap: Which Model for your Project (coming soon) When graduate students approach me hoping to start research in price analysis, they usually have to…

What to expect when Bitcoin Futures Start Trading Tonight: Cash and Carry Arbitrage

[mathjax]   Bitcoin futures (XBT) start trading tonight at 5pm CST on the CBOE. CME Group will launch a bitcoin futures contract next week on December 18, 2017. Source: CBOE The launch of futures contracts for bitcoin is highly anticipated since the cryptocurrency has gained over 1500% this year alone. Before the launch of futures…