Economist

UA economist sees ‘soft landing’ for economy as a strong possibility

by Roby Brock (roby@talkbusiness.net)

Mervin Jebaraj, economist with the University of Arkansas Walton College of Business, offers a gymnastics analogy for the Federal Reserve Bank’s handling of the tumultuous economy.

Observers have wondered if the aggressive hike in interest rates could pull inflation under control without crashing the economy and causing a recession. Jebaraj said, so far, it’s been a pretty well-done routine.

“As far as a ‘soft landing’ goes, I think you can safely say that the Federal Reserve has stuck a ‘soft landing’ in 2023. Now if you ever watch those gymnastics, you can get like one to two extra steps before you steady yourself, so that’s where we are and heading into 2024,” he said.

UA economist sees ‘soft landing’ for economy as a strong possibility

Stone County native Anderson to take Cooperative Extension Service reins in 2024

By Mary Hightower
U of A System Division of Agriculture

LITTLE ROCK — An agricultural economist raised in the tiny Stone County community of Timbo is set to become the next director of the Cooperative Extension Service.

John Anderson will assume his new role as senior associate vice president-extension for the University of Arkansas System Division of Agriculture on Jan. 2, said Deacue Fields, vice president-agriculture for the University of Arkansas System.

John Anderson will take the reins of the Arkansas Cooperative Extension Service in January 2024. (U of A System Division of Agriculture photo)

As director, Anderson will oversee the extension service land-grant outreach mission across all 75 counties.

“With his broad experience, outstanding record of innovation and achievements and just plain enthusiasm for the outreach mission, John is set to strengthen the work the Cooperative Extension Service is doing to improve lives in Arkansas,” said Fields. “John’s background in agriculture, economics and policy will be of great use as leader of the extension service.”

Anderson has been head of the agricultural economics and agribusiness department since January 2020, with appointments in both the Bumpers College of Agricultural, Food and Life Sciences and the Division of Agriculture. He is also head of the Fryar Price Risk Management Center of Excellence. Before that, he worked for the American Farm Bureau in Washington and is a veteran of the U.S. Army Reserve.

For more than 20 years, Anderson has worked as an agricultural economist in both academic and industry positions. His work has involved describing and assessing the farm- and agricultural sector-level impacts of policy, regulatory and market developments across a wide variety of agricultural commodities and markets. Anderson has served as a faculty member, with primary appointments in extension, at the University of Kentucky and Mississippi State University.

Anderson has a B.S. in agribusiness from College of the Ozarks, a Master of Science in agriculture degree from Arkansas State University and a Ph.D. in agricultural economics from Oklahoma State University. He also went back to school to earn a master’s in Christian leadership from the Dallas Theological Seminary in 2020.

Earlier this year, Anderson was elected to become the next president of the Southern Agricultural Economics Association, a role in which he will continue.

Introduction to extension
Raised on a family farm with beef cattle, broilers and a custom hay harvest operation, Anderson grew up with extension.

“I remember being a little kid and us having a field day on our farm with extension,” he said. “We were early adopters of bermudagrass varieties, and we had some variety trials that the county agent ran on our farm.”

His family “had a fertilizer business and we were constantly running soil tests to the county office,” Anderson said. “My first exposure to extension was on the agriculture side.”

Far from being outdated, “extension as important as it's ever been,” he said. “If you look at what's going on in our rural communities right now, if you look at what's going on in the world, there’s a desperate need for unbiased, reliable information to help people make decisions across all aspects of their lives. That’s what extension does.”

Scott’s legacy
“I want to thank Bob Scott for his years of service as director of the Cooperative Extension Service,” Fields said. “Our outreach efforts are better for the work he’s done, and I know his accomplishments will have a lasting effect in the state of Arkansas.”

Scott became extension director in July 2020 and is returning to his faculty role. He has been with the Division of Agriculture since 2002.

The Cooperative Extension Service is part of the University of Arkansas System Division of Agriculture.

To learn about extension programs in Arkansas, contact your local Cooperative Extension Service agent or visit www.uaex.uada.edu. Follow us on Twitter and Instagram at @AR_Extension. To learn more about Division of Agriculture research, visit the Arkansas Agricultural Experiment Station website: https://aaes.uada.edu. Follow on Twitter at @ArkAgResearch. To learn more about the Division of Agriculture, visit https://uada.edu/. Follow us on Twitter at @AgInArk.

Arkansas ag econ professor Jada Thompson wins SAEA Emerging Scholar Award

By John Lovett
University of Arkansas System Division of Agriculture
Arkansas Agricultural Experiment Station

FAYETTEVILLE, Ark. — Jada Thompson, assistant professor in the department of agricultural economics and agribusiness in the University of Arkansas System, was recently recognized with the Southern Agricultural Economics Association’s 2023 Emerging Scholar Award for research.

EMERGING SCHOLAR — Jada Thompson is a 2023 Emerging Scholar Award recipient from the Southern Agricultural Economics Association. The agricultural economist has focused much of her work on HPAI bird flu. (U of A System Division of Ag photo by Fred Miller)

Thompson, an economist with the Arkansas Agricultural Experiment Station, the research arm of the University of Arkansas System Division of Agriculture, has spent much of her academic career researching bird flu’s economic impact.

She said the new strain of Highly Pathogenic Avian Influenza H5N1 poses a longer-running risk on the supply chain and may lead to structural changes in poultry production. The 2022 bird flu epidemic has raised questions about how the poultry industry proceeds.

The agricultural economics and agribusiness department now has three SAEA Emerging Scholar Award-winning faculty. Brandon McFadden, professor and the Tyson Endowed Chair in Food Policy Economics, and Trey Malone, assistant professor, were recognized with the award in 2019 and 2022, respectively.

“Dr. Thompson has established an outstanding record of research, with nearly 40 peer-reviewed publications including not only high-impact journal articles but also Extension publications summarizing stakeholder-relevant work,” John Anderson, head of the agricultural economics and agribusiness department, stated in his nomination letter for the award.

Anderson, who is also director of the Fryar Price Risk Management Center of Excellence, stated that Thompson’s record shows that she is a versatile researcher who is able to apply her skill set to a variety of relevant problems. A common thread that is evident in her work is the link between farm-level production issues and market impacts, he said.

“This is an increasingly important line of inquiry, as her work on both domestic and international market impacts of animal disease outbreaks demonstrates,” Anderson wrote. “This kind of integrated research requires not only a solid economics toolkit but also a thorough understanding of both production systems and agricultural markets. Any one of these facets of the work is difficult to master. Dr. Thompson ably integrates her mastery of all three.”

Anderson noted Thompson’s work is highly collaborative with economists from a wide range of institutions and experts from other relevant disciplines. Her proficiency extends to the extension and teaching mission areas, where she engaged directly with stakeholders, Anderson added.

“She is an excellent instructor, having already taught a variety of courses at three different land-grant institutions,” Anderson said. “Dr. Thompson has also actively engaged in service activities, both in our department and within the profession. Across all aspects of her faculty work, Dr. Thompson is productive, hard-working, and unfailingly collegial. She is rapidly emerging as a leader within our profession.”

Malone said the SAEA Emerging Scholar award is national in scope and a “premier designation” for early career faculty members in agricultural economics.

“Jada’s applied research program as a poultry economist is top-notch, so it’s fantastic to see such a hypercompetitive award acknowledge her hard work,” Malone said.

Thompson, a northwest Arkansas native, is among a small group of agricultural economists who specialize in poultry, Anderson said. She has a long history with the University of Arkansas, earning her bachelor’s and master’s degrees in agricultural economics there. For her bachelor’s degree, Thompson double-majored in poultry science and agricultural economics. In June, she returned as an assistant professor following five years as an assistant professor at the University of Tennessee-Knoxville.

She earned her doctorate in 2016 at Colorado State University.

“When you come into agriculture as a woman, there is a smaller subset of us, and to get this award is validating and exciting,” Thompson said. “To be nominated was humbling and to win was very nice.”

2022 HPAI potential impacts

As part of the award, Thompson will give a presentation on her investigations into the economic ramifications of this highly pathogenic avian influenza — HPAI — at the SAEA annual symposium in February in Oklahoma City. Her talk will provide a comprehensive overview of HPAI, the differences between the 2015 and 2022 outbreaks, market impacts and her analysis of how the event may change the poultry sector.

“In animal health economics it is important to push the boundaries of information gathering, analysis and multidisciplinary work because of this concept of ‘One Health,’ that plants, animals and humans are interconnected on local, regional, national and global levels,” Thompson said.

Some of the discussion around HPAI include continued research on a cost-beneficial aerosol vaccine that would be the most practical option for inoculating tens of thousands of birds at once. H5N1 has had a bigger impact on turkeys and laying hens, however, because older birds are more susceptible to the virus, Thompson noted. Broilers, the largest sector of Arkansas’ poultry industry, are harvested after about two months of growth.

Questions remain on what the producer response should be if the H5N1 strain continues into 2023, Thompson said. How much to increase production to compensate for potential losses and changes in placements are at the top of the list because of issues with increased food prices and potential fear in the marketplace of continued disruptions.

To learn more about Division of Agriculture research, visit the Arkansas Agricultural Experiment Station website: https://aaes.uada.edu. Follow on Twitter at @ArkAgResearch. To learn more about the Division of Agriculture, visit https://uada.edu/. Follow us on Twitter at @AgInArk. To learn about extension programs in Arkansas, contact your local Cooperative Extension Service agent or visit www.uaex.uada.edu.