This paper examines the U.S. meat demand impacts of the announced outbreaks of bovine spongiform encephalopathy (BSE) and avian influenza (AI). Findings indicate that beef and chicken demand was negatively affected by BSE and AI disease outbreaks. Specifically, in the short run, U.S. consumers shift demand due to both outbreaks...
Intertemporal timber supply models typically assume perfect capital markets and perfectly inelastic supplies of land. Using a dynamic model of U.S. timber and agriculture markets, we examine (i) borrowing limits or capital constraints, in which investment in forest management on nonindustrial private ownerships is restricted, and (ii) a nonzero elasticity...