Matthias Doepke is an Associate Professor of Economics at Northwestern University, an Affiliate Professor at the University of Munich, an NBER Research Associate, and a CEPR Research Fellow. After undergraduate studies at Humboldt-Universität in Berlin he received a Ph.D. in Economics from the University of Chicago in 2000.

Fatih Guvenen is an assistant professor of economics at the University of Minnesota. He is a visiting scholar at the Federal Reserve Bank of Minneapolis, and also a Faculty Research Fellow at the National Bureau of Economic Research.

Jacinto Fabiosa, Center for Agricultural and Rural Development, has been invited to be on an advisory board of the International Council on Clean Transportation, as the council produces a report on modeling land-use changes in agriculture and energy.

Abstract: Cointegration is tested between organic and conventional corn and soybean markets in several locations throughout the U.S. using a unique data set. Organic prices are found to behave like jump processes rather than diffusions, and Monte Carlo methods are developed to compute appropriate critical values for such tests. Findings indicate that no long-run relationship exists between organic and conventional prices, implying that price determination for organic corn and soybean is independent from that for the conventional crops.