Price Transmission in Agricultural Markets

2021 ◽  
Vol 13 (1) ◽  
Author(s):  
Stephan von Cramon-Taubadel ◽  
Barry K. Goodwin
Keyword(s):  
Food Chain ◽  
Food System ◽  
Price Transmission ◽  
Empirical Literature ◽  
Annual Review ◽  
Agricultural Markets ◽  
Publication Date ◽  
Vertical Coordination ◽  
Marketing Information ◽  
Context Specific

We review recent developments in the analysis of price transmission in agricultural markets. Markets may be separated in time, form, and space (as well as in combinations of such factors). Transactions and storage costs as well as production and marketing factors delineate these markets. We show that much of the research on spatial market linkages has reflected methodological advances that have led to increasingly nonlinear time-series models. Advances in the theoretical and empirical literature over the last few decades have demonstrated that price relationships in the food chain are highly context specific. Improvements in marketing, information, and transportation technology have strengthened the links between prices in the food system, but at the same time links in the food chain are increasingly subject to vertical coordination and, thus, less visible to outside observers, including researchers. Expected final online publication date for the Annual Review of Resource Economics, Volume 13 is October 2021. Please see http://www.annualreviews.org/page/journal/pubdates for revised estimates.

scholarly journals The Capitalization of Agricultural Subsidies into Land Prices

2021 ◽  
Vol 13 (1) ◽  
Author(s):  
Pavel Ciaian ◽  
Edoardo Baldoni ◽  
d'Artis Kancs ◽  
Dušan Drabik
Keyword(s):  
Empirical Studies ◽  
Data Availability ◽  
Empirical Literature ◽  
Annual Review ◽  
Publication Date ◽  
Spatial Effects ◽  
Agricultural Subsidies ◽  
Decoupled Payments ◽  
Land Prices ◽  
Rural Market

We review the recent theoretical and empirical literature on the capitalization of agricultural subsidies into land prices. The theoretical literature predicts that agricultural subsidies are capitalized into land prices when land supply is inelastic and land markets function well. The share of capitalized subsidies significantly depends on the implementation of farm subsidies, local land-market institutions, rural market imperfections, and spatial effects. Most empirical studies have shown that agricultural subsidies are only partially capitalized into land prices, estimating that decoupled payments and land-based subsidies exhibit higher capitalization than coupled payments and nonland-based subsidies, respectively. However, estimated capitalization rates vary widely across studies largely because of data availability and identification challenges. Expected final online publication date for the Annual Review of Resource Economics, Volume 13 is October 2021. Please see http://www.annualreviews.org/page/journal/pubdates for revised estimates.

Network Analysis of Psychopathology: Controversies and Challenges

2020 ◽  
Vol 17 (1) ◽  
Author(s):  
Richard J. McNally
Keyword(s):  
Mental Illness ◽  
Network Analysis ◽  
Mental Disorder ◽  
First Century ◽  
Empirical Literature ◽  
Annual Review ◽  
Publication Date ◽  
Network Approach ◽  
Central Idea ◽  
Network Approaches

Empirical publications inspired by the network approach to psychopathology have increased exponentially in the twenty-first century. The central idea that an episode of mental disorder arises from causal interactions among its symptomatic elements has especially resonated with those clinical scientists whose disenchantment with traditional categorical and dimensional approaches to mental illness have become all too apparent. As the field has matured, conceptual and statistical concerns about the limitations of network approaches to psychopathology have emerged, inspiring the development of novel methods to address these concerns. Rather than reviewing the vast empirical literature, I focus instead on the issues and controversies regarding this approach and sketch directions where the field might go next. Expected final online publication date for the Annual Review of Clinical Psychology, Volume 17 is May 7, 2021. Please see http://www.annualreviews.org/page/journal/pubdates for revised estimates.

Data Science in the Food Industry

2021 ◽  
Vol 4 (1) ◽  
Author(s):  
George-John Nychas ◽  
Emma Sims ◽  
Panagiotis Tsakanikas ◽  
Fady Mohareb
Keyword(s):  
Food Safety ◽  
Food Chain ◽  
Food Industry ◽  
Data Science ◽  
Annual Review ◽  
Publication Date ◽  
Biomedical Data ◽  
Constant State ◽  
Food Integrity ◽  
Multi Stakeholder

Food safety is one of the main challenges of the agri-food industry that is expected to be addressed in the current environment of tremendous technological progress, where consumers’ lifestyles and preferences are in a constant state of flux. Food chain transparency and trust are drivers for food integrity control and for improvements in efficiency and economic growth. Similarly, the circular economy has great potential to reduce wastage and improve the efficiency of operations in multi-stakeholder ecosystems. Throughout the food chain cycle, all food commodities are exposed to multiple hazards, resulting in a high likelihood of contamination. Such biological or chemical hazards may be naturally present at any stage of food production, whether accidentally introduced or fraudulently imposed, risking consumers’ health and their faith in the food industry. Nowadays, a massive amount of data is generated, not only from the next generation of food safety monitoring systems and along the entire food chain (primary production included) but also from the internet of things, media, and other devices. These data should be used for the benefit of society, and the scientific field of data science should be a vital player in helping to make this possible. Expected final online publication date for the Annual Review of Biomedical Data Science, Volume 4 is July 2021. Please see http://www.annualreviews.org/page/journal/pubdates for revised estimates.

scholarly journals Domestic Pressure and International Climate Cooperation

2021 ◽  
Vol 13 (1) ◽  
Author(s):  
Alessandro Tavoni ◽  
Ralph Winkler
Keyword(s):  
Climate Change ◽  
Empirical Literature ◽  
Annual Review ◽  
Environmental Agreements ◽  
Publication Date ◽  
International Policy ◽  
International Climate Policy ◽  
Important Challenge ◽  
International Climate ◽  
Shed Light

In the wake of 25 United Nations Climate Change Conferences of the Parties (and counting), international cooperation on mitigating greenhouse gas emissions to avoid substantial and potentially irreversible climate change remains an important challenge. The limited impact of the Kyoto Protocol on curbing emissions, and the gap between the ambitions of its successor and the Paris Agreement's lack of sanctioning mechanisms for addressing noncompliance, demonstrates both the difficulties in negotiating ambitious environmental agreements and the reluctance of countries to comply with their agreed emission targets once they have joined the treaty. Therefore, a better understanding of the obstacles and opportunities that the interactions between domestic and international policy pose for the design of successful international climate cooperation is of utmost importance. To shed light on the roots of the stalemate (and suggest possible ways out), this article reviews and draws lessons from a growing theoretical, experimental, and empirical literature that accounts for the hierarchical interplay between domestic political pressure and international climate policy. Expected final online publication date for the Annual Review of Resource Economics, Volume 13 is October 2021. Please see http://www.annualreviews.org/page/journal/pubdates for revised estimates.

Climate Finance

2021 ◽  
Vol 13 (1) ◽  
Author(s):  
Stefano Giglio ◽  
Bryan Kelly ◽  
Johannes Stroebel
Keyword(s):  
Climate Risk ◽  
Empirical Literature ◽  
Future Research ◽  
Annual Review ◽  
Publication Date ◽  
Climate Finance ◽  
Fixed Income ◽  
Fixed Income Securities ◽  
Climate Risks ◽  
Asset Classes

In this article, we review the literature studying interactions between climate change and financial markets. We first discuss various approaches to incorporating climate risk in macrofinance models. We then review the empirical literature that explores the pricing of climate risks across a large number of asset classes, including real estate, equities, and fixed income securities. In this context, we also discuss how investors can use these assets to construct portfolios that hedge against climate risk. We conclude by proposing several promising directions for future research in climate finance. Expected final online publication date for the Annual Review of Financial Economics, Volume 13 is November 2021. Please see http://www.annualreviews.org/page/journal/pubdates for revised estimates.

Social Finance

2021 ◽  
Vol 13 (1) ◽  
Author(s):  
Theresa Kuchler ◽  
Johannes Stroebel
Keyword(s):  
Social Interactions ◽  
Recent Work ◽  
Social Connectedness ◽  
House Price ◽  
Empirical Literature ◽  
Annual Review ◽  
Publication Date ◽  
Financial Decisions ◽  
Mortgage Refinancing

We review an empirical literature that studies the role of social interactions in driving economic and financial decision-making. We first summarize recent work that documents an important role of social interactions in explaining household decisions in housing and mortgage markets. This evidence shows, for example, that there are large peer effects in mortgage refinancing decisions and that individuals’ beliefs about the attractiveness of housing market investments are affected by the recent house price experiences of their friends. We also summarize recent work showing that social interactions affect the stock market investments of both retail and professional investors as well as household financial decisions such as retirement savings, borrowing, and default. Along the way, we describe a number of easily accessible recent data sets for the study of social interactions in finance, including the Social Connectedness Index, which measures the frequency of Facebook friendship links across geographies. We conclude by outlining several promising directions for further research in the field of social finance. Expected final online publication date for the Annual Review of Financial Economics, Volume 13 is March 2021. Please see http://www.annualreviews.org/page/journal/pubdates for revised estimates.

Carbon Taxes in Theory and Practice

2021 ◽  
Vol 13 (1) ◽  
Author(s):  
Gilbert E. Metcalf
Keyword(s):  
Carbon Tax ◽  
Policy Instruments ◽  
Theory And Practice ◽  
Empirical Literature ◽  
Annual Review ◽  
Publication Date ◽  
Carbon Taxes ◽  
Reduce Emissions ◽  
Hybrid Carbon

As of 2020, carbon taxes were in effect in 30 jurisdictions around the world. This article provides a theoretical overview of carbon taxes along with some empirical evidence on the macroeconomic impacts of existing taxes, including emission reductions. It compares and contrasts carbon taxes with other policy instruments to reduce emissions. It also highlights issues that have recently attracted the attention of researchers on which additional research would be beneficial. Those include ( a) the role of border adjustments in a unilaterally imposed carbon tax, ( b) hybrid carbon tax systems that increase the likelihood of hitting desired emission reduction targets, ( c) the optimal price path for a carbon tax, and ( d) the growing empirical literature on the economic impact of carbon taxes. Expected final online publication date for the Annual Review of Resource Economics, Volume 13 is October 2021. Please see http://www.annualreviews.org/page/journal/pubdates for revised estimates.

The Science of Leadership: A Theoretical Model and Research Agenda

2021 ◽  
Vol 9 (1) ◽  
Author(s):  
Andrew M. Carton
Keyword(s):  
Organizational Behavior ◽  
Research Agenda ◽  
Empirical Literature ◽  
Future Research ◽  
Annual Review ◽  
Publication Date ◽  
Leader Behaviors ◽  
Single Construct ◽  
Leadership Research ◽  
Do So

I review the empirical literature on leadership, focusing on papers published since 2010. To do so, I introduce a framework composed of two features: whether theories ( a) involve the study of leaders or leading (i.e., the person versus the process) and ( b) conceptualize leadership as a cause or a consequence (i.e., an independent versus dependent variable). This framework can enable future research to accumulate in a more programmatic fashion and help scholars determine where their own studies are located within the landscape of leadership research. I end the review by critically evaluating existing work, arguing that the most popular subcategory of leadership research—lumped conceptualizations of leading, in which scholars examine multiple leader behaviors within a single construct—has significant limitations and may need to be replaced by a greater focus on split conceptualizations of leading, wherein scholars isolate single leader behaviors. Expected final online publication date for the Annual Review of Organizational Psychology and Organizational Behavior, Volume 9 is January 2022. Please see http://www.annualreviews.org/page/journal/pubdates for revised estimates.

Brainstem Circuits for Locomotion

2022 ◽  
Vol 45 (1) ◽  
Author(s):  
Roberto Leiras ◽  
Jared M. Cregg ◽  
Ole Kiehn
Keyword(s):  
Motor Behavior ◽  
Annual Review ◽  
Publication Date ◽  
Brain Areas ◽  
Brain Functions ◽  
Functional Connectome ◽  
Locomotor Control ◽  
Context Specific ◽  
Recurrent Theme ◽  
Selection Of

Locomotion is a universal motor behavior that is expressed as the output of many integrated brain functions. Locomotion is organized at several levels of the nervous system, with brainstem circuits acting as the gate between brain areas regulating innate, emotional, or motivational locomotion and executive spinal circuits. Here we review recent advances on brainstem circuits involved in controlling locomotion. We describe how delineated command circuits govern the start, speed, stop, and steering of locomotion. We also discuss how these pathways interface between executive circuits in the spinal cord and diverse brain areas important for context-specific selection of locomotion. A recurrent theme is the need to establish a functional connectome to and from brainstem command circuits. Finally, we point to unresolved issues concerning the integrated function of locomotor control. Expected final online publication date for the Annual Review of Neuroscience, Volume 45 is July 2022. Please see http://www.annualreviews.org/page/journal/pubdates for revised estimates.

Why Does Globalization Fuel Populism? Economics, Culture, and the Rise of Right-Wing Populism

2021 ◽  
Vol 13 (1) ◽  
Author(s):  
Dani Rodrik
Keyword(s):  
Presidential Election ◽  
The United States ◽  
Empirical Literature ◽  
Annual Review ◽  
Publication Date ◽  
Right Wing ◽  
Compelling Evidence ◽  
Demand And Supply ◽  
Right Wing Populism ◽  
The Right

There is compelling evidence that globalization shocks, often working through culture and identity, have played an important role in driving up support for populist movements, particularly of the right-wing kind. I start with an empirical analysis of the 2016 presidential election in the United States to show that globalization-related attitudinal variables were important correlates of the switch to Trump. I then provide a conceptual framework that identifies four distinct channels through which globalization can stimulate populism, two each on the demand and supply sides of politics. I evaluate the empirical literature with the help of this framework, discussing trade, financial globalization, and immigration separately. I conclude the review by discussing some apparently anomalous cases in which populists have been against, rather than in favor of, trade protection. Expected final online publication date for the Annual Review of Economics, Volume 13 is August 2021. Please see http://www.annualreviews.org/page/journal/pubdates for revised estimates.

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