We estimate a distance function of grains production using generalized method of moments that enables us to accommodate multiple outputs of farmers as well as address the endogeneity issues that are related with the use of distance functions for multi-output production. Using a panel data set of...

We study the difference in the volatility dynamics of CBOT corn, soybeans, and oats futures prices across different delivery horizons via the smoothed Bayesian estimator of Karali, Dorfman, and Thurman (2010). We show that the futures price volatilities in these markets are affected by the...