Rotational grazing has the potential to provide environmental and economic benefits; however, the adoption rate is about 30% in the United States. We develop a model to examine peer networking and ...grazing practice decisions, and how subsidies affect decisions in the presence of peer effects. We apply a simultaneous‐equations model to address endogeneity issues with peer effects that are measured as either the number of adopters a rancher knows or the extent of adoption in a rancher's neighborhood. Empirical analysis provides evidence of significant peer effects on rotational grazing adoption. Incentive policies have multiplier effects on adoption through peer networking.
Animating the Carbon Cycle Schmitz, Oswald J; Raymond, Peter A; Estes, James A ...
Ecosystems (New York),
03/2014, Letnik:
17, Številka:
2
Journal Article
Recenzirano
Odprti dostop
Understanding the biogeochemical processes regulating carbon cycling is central to mitigating atmospheric CO₂ emissions. The role of living organisms has been accounted for, but the focus has ...traditionally been on contributions of plants and microbes. We develop the case that fully “animating” the carbon cycle requires broader consideration of the functional role of animals in mediating biogeochemical processes and quantification of their effects on carbon storage and exchange among terrestrial and aquatic reservoirs and the atmosphere. To encourage more hypothesis-driven experimental research that quantifies animal effects we discuss the mechanisms by which animals may affect carbon exchanges and storage within and among ecosystems and the atmosphere. We illustrate how those mechanisms lead to multiplier effects whose magnitudes may rival those of more traditional carbon storage and exchange rate estimates currently used in the carbon budget. Many animal species are already directly managed. Thus improved quantitative understanding of their influence on carbon budgets may create opportunity for management and policy to identify and implement new options for mitigating CO₂ release at regional scales.
The paper features an examination of the link between the behaviour of the FTSE 100 and S&P500 Indexes in both an autoregressive distributed lag ARDL, plus a nonlinear autoregressive distributed lag ...NARDL framework. The attraction of NARDL is that it represents the simplest method available of modelling combined short- and long-run asymmetries. The bounds testing framework adopted means that it can be applied to stationary and non-stationary time series vectors, or combinations of both. The data comprise a daily FTSE adjusted price series, commencing in April 2009 and terminating in March 2021, and a corresponding daily S&P500 Index adjusted-price series obtained from Yahoo Finance. The data period includes all the gyrations caused by the Brexit vote in the UK, beginning with the vote to leave in 2016 and culminating in the actual agreement to withdraw in January 2020. It was then followed by the impact of the global spread of COVID-19 from the beginning of 2020. The results of the analysis suggest that movements in the contemporaneous levels of daily S&P500 Index levels have very significant effects on the behaviour of the levels of the daily FTSE 100 Index. They also suggest that negative movements have larger impacts than do positive movements in S&P500 levels, and that long-term multiplier impacts take about 10 days to take effect. These effects are supported by the results of quantile regression analysis. A key result is that weak form market efficiency does not apply in the second period.
This paper investigates the economic contribution of beer festivals on local economies by analysing the Knavesmire Beer Festival at York, United Kingdom. Using information collected via means of a ...survey questionnaire and applying Type I multipliers, we estimate the total expenditure generated by visitors within and outside festivals' premises, measuring its impact on the local economy in terms of jobs created and GVA contributions. Findings reveal the impact of the festival on the York economy and the wider brewing industry, providing empirical evidence and original results about the economic contribution that beer festivals can generate at a local level.
Purpose
The authors estimate the multiplier effect of government public infrastructure investment in Spain. This paper aims to use annual data of the 17 Spanish autonomous communities for the ...1980–2016 period.
Design/methodology/approach
The authors use dynamic acyclic graphs and the heterogeneous panel structural vector autoregressive (P-SVAR) method of Pedroni (2013). This method is robust to cross-sectional heterogeneity and dependence, which are present in the data.
Findings
The findings suggest that an increase in the level of government public infrastructure investment generates a positive and persistent effect on the level of output. Five years after the fiscal expansion, the multiplier effects of government public infrastructure investment reach values above one. This confirms that government public infrastructure investment expansions have Keynesian effects. The authors also find that the multiplier effects differ between autonomous communities with above-average and below-average GDP per capita.
Originality/value
To the best of the authors’ knowledge, no research uses dynamic acyclic graphs and heterogeneous P-SVAR techniques to estimate fiscal multipliers of government public investment in Spain by using subnational data.
Based on the national Input-Output Matrix (IOM) 2012 calculated by INEGI, we estimate with the Flegg approach four regional Input-Output Matrices (RIOMs) using Banco de México’s regionalization ...(Northern, North-Central, Central and Southern). These RIOMs are employed to evaluate the impact on regional gross output, value added and employment from a 10,000 million dollar shock on Mexican manufacturing exports. The results show that the effects on the absolute values of gross output, value added and employment in the North are clearly larger than those estimated for the other regions. Another finding is that the total effects of the regional shocks tend to concentrate in the manufacturing sector, with the highest concentration observed in the North, and the lowest in the South. It is also shown that the North is, by far, the region experiencing the greatest change in its value added relative to GDP, followed by the North Central, the Central and the South. The results suggest a strong linkage between the manufacturing sector and tertiary activities, particularly commerce and services in the central regions, as well as between manufacturing and oil and gas extraction in the South.
The paper features an examination of the link between the behaviour of oil prices and DowJones Index in a nonlinear autoregressive distributed lag nonlinear autoregressive distributed lag (NARDL) ...framework. The attraction of NARDL is that it represents the simplest method available of modelling combined short- and long-run asymmetries. The bounds testing framework adopted means that it can be applied to stationary and non-stationary time series vectors, or combinations of both. The data comprise a monthly West Texas Intermediate (WTI) crude oil series from Federal Reserve Bank of St Louis (FRED), commencing in January 2000 and terminating in February 2019, and a corresponding monthly DOW JONES index adjusted-price series obtained from Yahoo Finance. Both series are adjusted for monthly USA CPI values to create real series. The results of the analysis suggest that movements in the lagged real levels of monthly WTI crude oil prices have very significant effects on the behaviour of the DOW JONES Index. They also suggest that negative movements have larger impacts than positive movements in WTI prices, and that long-term multiplier effects take about 9 to 12 months to take effect.
This article investigates spillover effects from the interlinked transactions arising from smallholder tobacco farmers' participation in contract farming arrangements in the Mazowe district of ...Mashonaland Central. The case study is based on data from a household survey conducted in the district and includes both tobacco farmers and households that do not produce tobacco. Interviews, participant observation and a review of statistical data and grey literature helped trace dynamics of production, intra-household relations and changing communal relations. The study explores how social relations and power imbalances shape the distribution of benefits, costs and losses resulting from the adoption of contract farming in the production of tobacco. The paper argues that the adoption of contract farming leads to a range of interlinked transactional outcomes, such as the diversification of agricultural production and new investments into non-farm activities by the poorer members of the community. In turn, these interlinked transactions generate jobs and increase food consumption and effective demand for services at the community level. However, it is also the case that the gains from these interlinked transactions are highly skewed against the poorer people in the district and that wealthier and better-connected farmers gain more from adopting tobacco than their less wealthy and less well-connected peers. This could lead to increased inequality in the community. The paper shows how agricultural dynamism generates spillover and multiplier effects that benefit communities in an unequal and poorly understood manner.
•The improvement of the visual quality of olive grove landscape increases the recreational demand.•The use of green covers and stone walls are the most valued landscape changes in olive groves ...paths.•Second order effects are roughly three times more important than visitors’ first order effects.•Agricultural landscape restoration embodies a non-negligible asset for the economic growth of rural areas.•Hybridizing the current AES scheme with a PES approach can be a profitable policy strategy.
This study evaluates how landscape changes made in order to improve the visual quality of olive groves may trigger first and second-order effects (FOEs and SOEs) on the rural economy. The choice experiment method is combined with the probability of visiting to estimate the marginal increase in recreational demand derived from the combination of three landscape elements: green cover, stone walls and woodland islets. The results suggest that the improvement of the aesthetic value of landscape (mainly through green covers and stone walls) creates a real, positive asset (due to its FOEs and SOEs) for the local economies in rural areas. The promotion of the recreational value of these areas to attract more visitors and so bring in more income could be a profitable policy, which could be implemented by hybridizing the current Agri-environmental scheme with a Payment for Ecosystem Services approach.
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