Philip Garcia

University of Illinois at Urbana-Champaign - Department of Agricultural and Consumer Economics

Professor

1301 W. Gregory Drive

427 Mumford Hall

Urbana, IL 61801

United States

SCHOLARLY PAPERS

28

DOWNLOADS
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Top 31,418

in Total Papers Downloads

1,896

SSRN CITATIONS
Rank 21,916

SSRN RANKINGS

Top 21,916

in Total Papers Citations

20

CROSSREF CITATIONS

26

Scholarly Papers (28)

1.

Hedging Behavior in Small and Medium-Sized Enterprises: The Role of Unobserved Heterogeneity

Number of pages: 53 Posted: 24 May 2003
Joost M. E. Pennings and Philip Garcia
Maastricht University and University of Illinois at Urbana-Champaign - Department of Agricultural and Consumer Economics
Downloads 317 (117,811)
Citation 3

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Derivatives Usage, Hedging Behavior, Unobserved Heterogeneity

2.

Returns to Traders and Existences of a Risk Premium of a Risk Premium in Agricultural Futures Markets

Number of pages: 57 Posted: 26 May 2011
Nicole Aulerich, Scott H. Irwin and Philip Garcia
Commodity Futures Trading Commission (CFTC), University of Illinois at Urbana-Champaign and University of Illinois at Urbana-Champaign - Department of Agricultural and Consumer Economics
Downloads 263 (143,290)
Citation 1

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commodities, futures markets, risk premium, commodity index traders

3.
Downloads 246 (153,127)
Citation 3

Futures Market Failure?

Number of pages: 40 Posted: 28 Oct 2011
Philip Garcia, Scott H. Irwin and Aaron Smith
University of Illinois at Urbana-Champaign - Department of Agricultural and Consumer Economics, University of Illinois at Urbana-Champaign and University of California, Davis - Department of Agricultural and Resource Economics
Downloads 245 (153,156)
Citation 7

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finance, agriculture, commodity futures, delivery, grain, storage, present value, asset pricing

Futures Market Failure?

American Journal of Agricultural Economics, Vol. 97, Issue 1, pp. 40-64, 2015
Number of pages: 25 Posted: 15 Apr 2020
Philip Garcia, Aaron Smith and Scott H. Irwin
University of Illinois at Urbana-Champaign - Department of Agricultural and Consumer Economics, University of California, Davis - Department of Agricultural and Resource Economics and University of Illinois at Urbana-Champaign
Downloads 1 (812,778)
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Agriculture, basis, bubble, commodity futures, convergence, delivery, grain, storage

4.

Poor Convergence Performance of CBOT Corn, Soybean and Wheat Futures Contracts: Causes and Solutions

Marketing and Outlook Research Report 2009-02
Number of pages: 35 Posted: 15 Oct 2009
University of Illinois at Urbana-Champaign, University of Illinois at Urbana-Champaign - Department of Agricultural and Consumer Economics, University of Illinois at Urbana-Champaign - Department of Agricultural and Consumer Economics and affiliation not provided to SSRN
Downloads 244 (154,300)
Citation 14

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corn, soybeans, wheat, CBOT, delivery, convergence

5.

The Poverty Challenge: How Individual Decision-Making Behavior Influences Poverty

Number of pages: 9 Posted: 03 Feb 2005
Joost M. E. Pennings and Philip Garcia
Maastricht University and University of Illinois at Urbana-Champaign - Department of Agricultural and Consumer Economics
Downloads 227 (165,446)

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Poverty, Decision Making Behavior, Research Approach

6.

Towards a Theory of Revealed Economic Behavior: The Economic-Neurosciences Interface

Number of pages: 23 Posted: 04 Jan 2005
Maastricht University, University of Illinois at Urbana-Champaign - Department of Agricultural and Consumer Economics and Wageningen UR - School of Social Sciences
Downloads 219 (171,169)

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revealed behavior, economics, neurosciences, synthesis, decision-making model

7.

Non-Convergence in Domestic Commodity Futures Markets: Causes, Consequences, and Remedies

USDA-ERS Economic Information Bulletin No. 115
Number of pages: 33 Posted: 24 Oct 2015
University of Georgia - Department of Agricultural & Applied Economics, University of Illinois at Urbana-Champaign - Department of Agricultural and Consumer Economics, University of Illinois at Urbana-Champaign and University of California, Davis - Departments of Economics and Agricultural Resource Economics
Downloads 125 (275,351)
Citation 10

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commodity futures, index funds, grains, non-convergence, price discovery

8.

The Forecasting Value of New Crop Futures: A Decision-Making Framework

University of Illinois, Office for Futures and Options Research Working Paper No. 98-05
Number of pages: 22 Posted: 28 Sep 1998
Southern Illinois University at Carbondale - Agribusiness Economics, University of Illinois at Urbana-Champaign - Department of Agricultural and Consumer Economics and University of Illinois @ Urbana-Champaign
Downloads 114 (294,138)
Citation 1

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9.

GMO Contamination-Price Effects in the U.S. Corn Market: StarLink and MIR162

Number of pages: 36 Posted: 06 Dec 2017
Xue (Selina) Han and Philip Garcia
University of Illinois and University of Illinois at Urbana-Champaign - Department of Agricultural and Consumer Economics
Downloads 48 (476,421)

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corn, sorghum, cointegration, GMO

10.

How Much Would You Pay to Resolve Volatility Risk in Agricultural Commodity Markets?

Number of pages: 37 Posted: 25 Apr 2019
Lei Yan and Philip Garcia
University of Illinois at Urbana-Champaign and University of Illinois at Urbana-Champaign - Department of Agricultural and Consumer Economics
Downloads 42 (502,419)

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volatility risk, commodity options, straddle, term structure

11.

Measuring Producer Welfare Under Output Price Uncertainty and Risk Non-Neutrality

Number of pages: 21 Posted: 24 May 2005
David S. Bullock, Philip Garcia and Kie-Yup Shin
University of Illinois at Urbana-Champaign - Department of Agricultural and Consumer Economics, University of Illinois at Urbana-Champaign - Department of Agricultural and Consumer Economics and National Agricultural Cooperative Federation (NACF)
Downloads 32 (551,934)
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12.

Bubbles, Food Prices, and Speculation: Evidence from the Cftc&Apos;S Daily Large Trader Data Files

NBER Working Paper No. w19065
Number of pages: 63 Posted: 24 May 2013 Last Revised: 04 Feb 2021
Nicole Aulerich, Scott H. Irwin and Philip Garcia
Commodity Futures Trading Commission (CFTC), University of Illinois at Urbana-Champaign and University of Illinois at Urbana-Champaign - Department of Agricultural and Consumer Economics
Downloads 14 (670,442)
Citation 5

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13.

Microstructure Noise and Realized Variance in the Live Cattle Futures Market

American Journal of Agricultural Economics, Vol. 101, Issue 2, pp. 563-578, 2019
Number of pages: 16 Posted: 21 Apr 2020
Anabelle Couleau, Teresa Serra and Philip Garcia
Universidad EAFIT, University of Illinois at Urbana-Champaign and University of Illinois at Urbana-Champaign - Department of Agricultural and Consumer Economics
Downloads 1 (776,901)
Citation 1
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Live cattle, futures, microstructure noise, realized variance, integrated variance

14.

Price Density Forecasts in the U.S. Hog Markets: Composite Procedures

American Journal of Agricultural Economics, Vol. 98, Issue 5, pp. 1529-1544, 2016
Number of pages: 16 Posted: 16 Apr 2020
Wageningen UR, University of Illinois at Urbana-Champaign - Department of Agricultural and Consumer Economics and affiliation not provided to SSRN
Downloads 1 (776,901)
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Commodity price analysis, density forecast combination

15.

Price Explosiveness, Speculation, and Grain Futures Prices

American Journal of Agricultural Economics, Vol. 97, Issue 1, pp. 65-87, 2015
Number of pages: 23 Posted: 15 Apr 2020
Xiaoli Etienne, Scott H. Irwin and Philip Garcia
West Virginia University - Division of Resource Management, University of Illinois at Urbana-Champaign and University of Illinois at Urbana-Champaign - Department of Agricultural and Consumer Economics
Downloads 1 (776,901)
Citation 3
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Bubbles, price explosiveness, futures market, grain, index investment, price impact

16.

The Behavior of Bid‐Ask Spreads in the Electronically‐Traded Corn Futures Market

American Journal of Agricultural Economics, Vol. 96, Issue 2, pp. 557-577, 2014
Number of pages: 21 Posted: 15 Apr 2020
Xiaoyan Wang, Philip Garcia and Scott H. Irwin
University of Illinois at Urbana-Champaign, University of Illinois at Urbana-Champaign - Department of Agricultural and Consumer Economics and University of Illinois at Urbana-Champaign
Downloads 1 (776,901)
Citation 3
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commodity index funds, electronic corn futures market, liquidity costs, observed bid-ask spread, USDA reports

17.

Testing the Efficient Redistribution Hypothesis: An Application to Japanese Beef Policy

American Journal of Agricultural Economics, Vol. 81, Issue 2, pp. 408-423, 1999
Number of pages: 16 Posted: 31 Mar 2020
affiliation not provided to SSRN, University of Illinois at Urbana-Champaign and University of Illinois at Urbana-Champaign - Department of Agricultural and Consumer Economics
Downloads 1 (776,901)
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efficient redistribution hypothesis, Japanese beef policy, Q130, Q180

The Term Structure of Implied Forward Volatility: Recovery and Informational Content in the Corn Options Market

American Journal of Agricultural Economics, Vol. 89, No. 1, pp. 1-11, February 2007
Posted: 07 Feb 2007
Oregon State University - Department of Applied Economics, University of Illinois at Urbana-Champaign - Department of Agricultural and Consumer Economics and University of Illinois at Urbana-Champaign - Department of Agricultural and Consumer Economics

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19.

Are Corn Futures Prices Getting 'Jumpy'?

American Journal of Agricultural Economics, Vol. 102, Issue 2, pp. 569-588, 2020
Number of pages: 20 Posted: 24 Mar 2020
Anabelle Couleau, Teresa Serra and Philip Garcia
Universidad EAFIT, affiliation not provided to SSRN and University of Illinois at Urbana-Champaign - Department of Agricultural and Consumer Economics
Downloads 0 (793,963)
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Corn futures, information shocks, intraday, jump risk, nonparametric test, price jumps

20.

Measuring Producers' Risk Preferences: A Global Risk‐Attitude Construct

American Journal of Agricultural Economics, Vol. 83, Issue 4, pp. 993-1009, 2001
Number of pages: 17 Posted: 24 Mar 2020
Joost M. E. Pennings and Philip Garcia
Maastricht University and University of Illinois at Urbana-Champaign - Department of Agricultural and Consumer Economics
Downloads 0 (793,963)
Citation 2
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expected utility, futures usage, global risk‐attitude construct, multi‐item scale, second‐order factor analysis, validity, D810, Q120

21.

Portfolio Investment: Are Commodities Useful?

Journal of Commodity Markets (2017), 8:43-55. DOI: 10.1016/j.jcomm.2017.10.002
Posted: 26 Apr 2019
Lei Yan and Philip Garcia
University of Illinois at Urbana-Champaign and University of Illinois at Urbana-Champaign - Department of Agricultural and Consumer Economics

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Commodity Index; Estimation Error; Portfolio Diversification

22.

Hedging Behavior in Small and Medium-Sized Enterprises: The Role of Unobserved Heterogeneity

Posted: 24 May 2003
Joost M. E. Pennings and Philip Garcia
Maastricht University and University of Illinois at Urbana-Champaign - Department of Agricultural and Consumer Economics

Abstract:

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Derivatives Usage, Hedging Behavior, Unobserved Heterogeneity

23.

New Evidence on the Value of Public Information in Commodity Markets

OFOR Working Paper Number 94-04
Posted: 29 Oct 2000
University of Illinois at Urbana-Champaign - Department of Agricultural and Consumer Economics, University of Illinois at Urbana-Champaign, University of Illinois @ Urbana-Champaign and Western Michigan University

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24.

The Returns and Forecasting Ability of Large Traders in the Frozen Pork Bellies Futures Market

Posted: 03 May 2000
Raymond M. Leuthold, Philip Garcia and Richard Lu
University of Illinois @ Urbana-Champaign, University of Illinois at Urbana-Champaign - Department of Agricultural and Consumer Economics and Feng Chia University

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25.

The Demise of the High Fructose Corn Syrup Contract: A Case Study

OFOR Working Paper No. 94-06
Posted: 15 Sep 1999
Sarahelen Thompson, Philip Garcia and Lynne Dallafior
Purdue University - Department of Agricultural Economics, University of Illinois at Urbana-Champaign - Department of Agricultural and Consumer Economics and affiliation not provided to SSRN

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26.

Price Linkages in Selected Agricultural Industrial, Financial and Foreign Exchange Futures Markets Using Daily Data

OFOR Working Paper 94-10
Posted: 13 Sep 1999
Lincoln Investment Management, Inc., University of Illinois at Urbana-Champaign - Department of Agricultural and Consumer Economics and University of Illinois @ Urbana-Champaign

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27.

Ex Ante Basis Risk in the Live Hog Futures Contract: Has Hedgers' Risk Increased?

OFOR Working Paper No. 94-11
Posted: 01 Sep 1999
Philip Garcia and Dwight R. Sanders
University of Illinois at Urbana-Champaign - Department of Agricultural and Consumer Economics and Southern Illinois University at Carbondale - Agribusiness Economics

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Estimation of Time-Varying Hedge Ratios for Corn and Soybeans: Bgarch and Random Coefficient Approaches

Sankhya, Series B, 1998
Posted: 10 Aug 1999
Anil K. Bera, Philip Garcia and Jae-Sun Roh
University of Illinois at Urbana-Champaign - Department of Economics, University of Illinois at Urbana-Champaign - Department of Agricultural and Consumer Economics and Seoul National University - Department of Agricultural Economics

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Estimation of Time-Varying Hedge Ratios for Corn and Soybeans: Bgarch and Random Coefficient Approaches

Working Paper #98-0100
Posted: 02 Jun 1998
Anil K. Bera, Philip Garcia and Jae-Sun Roh
University of Illinois at Urbana-Champaign - Department of Economics, University of Illinois at Urbana-Champaign - Department of Agricultural and Consumer Economics and Seoul National University - Department of Agricultural Economics

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