Theses and Dissertations at Montana State University (MSU)
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Item The effects of anti-price gouging laws in the wake of a hurricane(Montana State University - Bozeman, College of Agriculture, 2015) Tarrant, Michael Steven; Chairperson, Graduate Committee: Randal R. RuckerThe southeastern coast of the United States is vulnerable to hurricanes and the destruction they cause. Previous literature has explored hurricanes' impacts on growth in coastal counties of the United States, but not the inherently linked effects of anti-price gouging (APG) laws, which prohibit firms from significantly increasing prices during a declared state of emergency. The relationship between APG laws and economic growth following a hurricane is estimated with a fixed effect model and county-level quarterly wage data for the period 1990-2012. Results suggest that hurricane-stricken counties are worse off in the presence of APG laws, with the most pronounced negative effects in the accommodations industry. The deleterious effects of APG laws, however, are short-lived; affected counties appear to rebound once the laws are no longer in effect. As the first paper to empirically examine the economic effects of APG laws, these results counter common political thinking and provide empirical support of standard economic theory regarding price ceilings.Item A dynamic price and supply model of the U.S. pork industry(Montana State University - Bozeman, College of Agriculture, 1984) Black, Cecil DeeItem Supply response of Grade A milk production in upper Flathead Valley(Montana State University - Bozeman, College of Agriculture, 1956) Davidson, Jack R.Item Supply response function for beef in Botswana : an economic analysis and policy implication(Montana State University - Bozeman, College of Agriculture, 1981) Ndzinge, Loftus OthogileItem Where are the beef cattle? : an economic analysis of the changes in the cattle cycle(Montana State University - Bozeman, College of Agriculture, 2013) Mondics, Rebecca Elizabeth; Chairperson, Graduate Committee: Gary BresterThe cattle cycle was characterized by remarkable regularity throughout much of the twentieth century. More recently, inventory appears to lack its typical periodicity, and herd numbers decline despite above-average cattle prices. Historically, producers responded to high prices by expanding herds and to low prices by contracting them. These expansions and contractions resulted in the cattle cycle. Yet, currently, the price of beef continues to increase and inventory numbers continue to decline. This thesis seeks to identify the factors responsible for the apparent change in producer response, and to determine whether or not inventory is still cyclical. Spectral analysis is used to examine the cycle and identifies the early 1980s as the point of change. Next, Granger causality tests and autoregressive distributed lag models are used to estimate national and state-level inventory responses to various factors. A change in producer response to feeder cattle prices, above-average hay prices, and expanded crop insurance use appear to be the primary factors that are causing changes in the cattle cycle.Item An econometric analysis of the demand for beef in Japan(Montana State University - Bozeman, College of Agriculture, 1974) Rachman, Alhambra, 1932-; Chairperson, Graduate Committee: Edward H. Ward.This study is a quantitative analysis of Japanese beef consumption and prices. It is primarily concerned with the economic analysis of expected changes in domestic prices as a result of changes in imports which Japan could initiate in the near future. In a qualitative framework, an effort was also made to relate the impact of these findings to the Australian beef export sector. Japan is the only country in the Far East which has achieved a per capita income level and rate of economic growth comparable to the developed countries of the West. However, Japan's per capita beef consumption of 7 pounds in 1971 was among the lowest in the world. More detailed information on Japanese beef demand could indicate the nature of future beef and feed grain prices and trade flows useful to countries of the Far East and around the Pacific area. A simultaneous econometric model was estimated to account for the interdependence of the beef, pork, and poultry sector. All data were obtained from secondary sources of publications issued by Japanese and United States agencies. The lack of data and other basis information prevented an economic examination of the relationship of beef and fish consumption. The estimation of the structural parameters was utilized for obtaining both informational results and deriving a reduced form model. The latter was used for predictive purposes and to account for the direct and indirect impacts of the system on the demand for beef. Barring adverse economic or political circumstances, the structural parameters revealed that the Japanese demand for beef could continue to grow. Within the meat group itself, beef seems to be a more preferred protein source. The income effect appears quite favorable to beef demand as it reflects both purchasing power and tastes. However, its full impact was partially weakened by the prevailing high price level. At present consumption levels and price ranges, changes in wholesale prices appear relatively inflexible with respect to changes in quantity consumed and income. Predictions on future price movements indicate that the direction of price changes will be primarily determined by the magnitude of future import quotas and continuation of growth in real income. Expected changes in Japanese import quotas primarily imply liberalized imports. This would exert pressure on Australian export prices and further increase production capacity prospects.