This paper develops an efficient Stein-like shrinkage estimator for estimating slope parameters under structural breaks in seemingly unrelated regression models, which is then used for forecasting. The proposed method is a weighted average of two estimators: a restricted estimator that estimates the parameters under the restriction of no break in the coefficients, and an unrestricted estimator that considers break points and estimates the parameters using the observations within each regime. It is established that the asymptotic risk of the Stein-like shrinkage estimator is smaller than that of the unrestricted estimator, which is the method typically used to estimate the slope coefficients under structural breaks. Furthermore, this paper proposes an averaging minimal mean squared error estimator in which the averaging weight is derived by minimizing its asymptotic risk. Insights from the theoretical analysis are demonstrated in Monte Carlo simulations and through an empirical example of forecasting output growth of G7 countries.

Consumer willingness to pay (WTP) for yogurt attributes was evaluated using a survey targeted to be nationally representative within the United States. A novel approach was used to allow for self-selection into the choice experiment for commonly purchased types of yogurt, either Greek or traditional, based on what consumers purchase. They were willing to pay a positive amount for requiring pasture access and not permitting dehorning/disbudding (which references the removal of horns or horn buds) for both traditional and Greek yogurt. Respondents had positive WTP for Greek yogurt labeled free of high-fructose corn syrup and a higher WTP for low-fat yogurt when compared to nonfat for both yogurt types.

This article investigates the extent to which national brand and private label (store brand) prices behave differently as food price inflation changes. Empirical tests using a range of indices support the hypotheses that rising commodity and fuel prices lead to relatively larger surges in private label prices. When food prices are rising or high, the average price difference between national brands and private labels shrinks. The findings have implications for understanding the welfare effects of private labels. Moreover, they suggest that food price inflation is stronger for low-income households as food prices rise.

What factors are related to establishment dynamics following disturbance in late-successional versus second-growth tropical forests of the Pacific islands? Are those relationships robust to interannual fluctuations in establishment? In three sites juveniles were enumerated in 30 (5 × 5-m) subplots within 45 × 50-m tree plots in 2004 and 2005, 2.5 and 3.5 y following a Category-3 tropical cyclone (hurricane), in the Vava'u Island Group, Kingdom of Tonga. Recruitment was almost three-fold greater in the second sample period. Spatial pattern of focal species density was related to density of other juveniles, proximity of conspecific adults and canopy cover in the two years using Seemingly Unrelated Regression. Shade-tolerant species were the most abundant recruits in late-successional sites, establishing near-conspecific adults and other juveniles, while shade-establishing species were recruiting in gaps in second-growth forest where they also constitute the canopy trees. This pattern, observed in both years, reinforces divergent successional trajectories for second-growth and late-successional forest.

As with most agricultural industries, the U.S. dairy industry has evolved into a structure including fewer yet larger firms. In Louisiana, total milk production has declined along with dairy farm numbers since 1972. This study addresses the impact of alternative policies, macroeconomic factors, and technology on the structure of the Louisiana dairy industry using a micro-data non-stationary Markov chain analysis. Results indicate that a number of factors have affected the structure of the industry in Louisiana, including but not limited to prices, milk supply reduction programs, technology and interest rates.

Implicit (hedonic) producer prices for fiber strength uniformity were estimated for the southwest U.S. cotton market using seemingly unrelated regression and market sales data from 1983/84 and 1984/85. Fiber strength and length uniformity had significant effects on the price of cotton, but price was less responsive to both attributes than anticipated. Producer prices were most responsive to fiber length and micronaire and least responsive to color and strength. The market at the producer level appears to be making effective price adjustments with respect to factors such as fiber color, trash content, micronaire, fiber length, and location, but strength and length uniformity premiums and discounts are smaller than those paid by end users.