Walter N Thurman
Biographic Data
| ID | 1454286 |
|---|---|
| NAME | Walter N Thurman |
| GIVEN NAMES | Walter N |
| FAMILY NAME | Thurman |
| SIGNATURE | THURMAN W N |
| AFFILIATIONS | North Carolina State University |
| ORCID | 0000-0002-6106-7685 |
| VERIFIED | Yes |
| TOTAL WORKS | 5 |
| TOTAL CITATIONS | 2 |
| AUTHOR COUNT | 5 |
| EDITOR COUNT | 0 |
| FIRST PUBLICATION YEAR | 1986 |
| LATEST PUBLICATION YEAR | 2025 |
| H-INDEX | 1 |
Creating American Farmland
The Corn Belt is famously responsible for the bulk of U.S. corn production, and over half of its production comes from counties that rely on artificial drainage. We trace the history of this extensive investment in farmland and document the importance of a key institutional innovation, the drainage management district, which increased the land value of naturally wet eastern U.S. counties by 20-37 percent ($16.8-18.7 billion in 2020 dollars). Whil…
Imposing Smoothness Priors in Applied Welfare Economics
Economic effects of public policy alternatives often are analyzed with simulation models. The value of simulation is enhanced when model parameters can credibly be estimated econometrically. But unrestricted estimation can be expected to result in problematic estimates, for example, estimated parameters contrary in sign to what economic theory dictates. The information contract curve (ICC), developed by Leamer, provides a flexible means to impose…
Restricting the Market for Quota
Regulatory programs that restrict output levels often impose restrictions on the transfer of rights to produce or to use particular inputs. In this paper, the authors use a unique cross-section, time-series data set from North Carolina to quantify the welfare effects of transfer restrictions for poundage quota under the U.S. flue-cured tobacco program. The authors find that the deadweight costs of such restrictions are small but that the distribu…
Sweden's Financial Sophistication in the Nineteenth Century
The article tests a variant of Lars G. Sandberg's “financial sophistication hypothesis.” Sandberg argues that Sweden had an unusually large stock of financial capital in 1850 which, along with a highly literate populace, was paramount in the subsequent economic explosion. Unable to test the hypothesis directly, we use a variant—that the financial sector was a leading sector in Swedish development—amenable to time-series tests of the Granger-causa…
Endogeneity Testing in a Supply and Demand Framework
The powers of Wu-Hausman endogeneity tests are related to the normalization d ecision in estimating demand equations. Power is not invariant to the choice bet ween quantity and price as the dependent variable. A theoretical result due to N akamura and Nakamura_(1984) is used to explore the dependence of power on parame ters of the supply and demand system. The theoretical result is corroborated wit h a Monte Carlo experiment. The power results ar…
Sweden's Financial Sophistication in the Nineteenth Century
The article tests a variant of Lars G. Sandberg's “financial sophistication hypothesis.” Sandberg argues that Sweden had an unusually large stock of financial capital in 1850 which, along with a highly literate populace, was paramount in the subsequent economic explosion. Unable to test the hypothesis directly, we use a variant—that the financial sector was a leading sector in Swedish development—amenable to time-series tests of the Granger-causa…
Endogeneity Testing in a Supply and Demand Framework
The powers of Wu-Hausman endogeneity tests are related to the normalization d ecision in estimating demand equations. Power is not invariant to the choice bet ween quantity and price as the dependent variable. A theoretical result due to N akamura and Nakamura_(1984) is used to explore the dependence of power on parame ters of the supply and demand system. The theoretical result is corroborated wit h a Monte Carlo experiment. The power results ar…
Sweden's Financial Sophistication in the Nineteenth Century
The article tests a variant of Lars G. Sandberg's “financial sophistication hypothesis.” Sandberg argues that Sweden had an unusually large stock of financial capital in 1850 which, along with a highly literate populace, was paramount in the subsequent economic explosion. Unable to test the hypothesis directly, we use a variant—that the financial sector was a leading sector in Swedish development—amenable to time-series tests of the Granger-causa…
Restricting the Market for Quota
Regulatory programs that restrict output levels often impose restrictions on the transfer of rights to produce or to use particular inputs. In this paper, the authors use a unique cross-section, time-series data set from North Carolina to quantify the welfare effects of transfer restrictions for poundage quota under the U.S. flue-cured tobacco program. The authors find that the deadweight costs of such restrictions are small but that the distribu…
Imposing Smoothness Priors in Applied Welfare Economics
Economic effects of public policy alternatives often are analyzed with simulation models. The value of simulation is enhanced when model parameters can credibly be estimated econometrically. But unrestricted estimation can be expected to result in problematic estimates, for example, estimated parameters contrary in sign to what economic theory dictates. The information contract curve (ICC), developed by Leamer, provides a flexible means to impose…
Creating American Farmland
The Corn Belt is famously responsible for the bulk of U.S. corn production, and over half of its production comes from counties that rely on artificial drainage. We trace the history of this extensive investment in farmland and document the importance of a key institutional innovation, the drainage management district, which increased the land value of naturally wet eastern U.S. counties by 20-37 percent ($16.8-18.7 billion in 2020 dollars). Whil…
Economics (5 works) · Econometrics (3 works) · Microeconomics (3 works) · Agricultural Economics and Policy (2 works) · Archaeology (2 works) · Climate Change Policy and Economics (2 works) · Economic and Environmental Valuation (2 works) · Finance (2 works) · Finance (2 works) · Political science (2 works)