What do we know about the value and market impact of the US Department of Agriculture reports?

Olga Isengildina Massa, Berna Karali and Scott H. Irwin

Applied Economic Perspectives and Policy, 2024, vol. 46, issue 2, 698-736

Abstract: The purpose of this paper is to comprehensively review the literature on the value and impact of the US Department of Agriculture (USDA) reports and discuss theoretical issues and empirical evidence. Only a handful of studies provide direct estimates of the welfare benefits of USDA information using a rational expectations framework in storable commodity markets. Most studies examine partial evidence of welfare benefits associated with market response to USDA information. These studies include examinations of the impacts of USDA report releases on cash and futures price volatility and other market dynamics, impacts of report releases on options implied volatility, impacts of unanticipated information in USDA reports, as well as informational value, returns, and survey‐based studies. We discuss the methodological and empirical contributions of these studies as well as their shortcomings and potential opportunities for future work.

Date: 2024
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://doi.org/10.1002/aepp.13409

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:wly:apecpp:v:46:y:2024:i:2:p:698-736

Access Statistics for this article

More articles in Applied Economic Perspectives and Policy from John Wiley & Sons
Bibliographic data for series maintained by Wiley Content Delivery ().