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Journal of Agricultural and Applied Economics >
Volume 36, Number 02, August 2004 >
Please use this identifier to cite or link to this item:
http://purl.umn.edu/43420
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| Title: | Issues and Strategies for Aggregate Supply Response Estimation for Policy Analyses |
| Authors: | Ramirez, Octavio A.
Mohanty, Samarendu
Carpio, Carlos E.
Denning, Megan |
| Keywords: | nonnormality
probability distribution function
supply response |
| JEL Codes: | Q11
Q18
C32 |
| Issue Date: | 2004-08 |
| Abstract: | We demonstrate the use of the small-sample econometrics principles and strategies to come up with reliable yield and acreage models for policy analyses. We focus on demonstrating the importance of proper representation of systematic and random components of the model for improving forecasting precision along with more reliable confidence intervals for the forecasts. A probability distribution function modeling approach, which has been shown to provide more reliable confidence intervals for the dependent variable forecasts than the standard models that assume error term normality, is used to estimate cotton supply response in the Southeastern United States. |
| URI: | http://purl.umn.edu/43420 |
| Institution/Association: | Journal of Agricultural and Applied Economics>Volume 36, Number 02, August 2004 |
| Total Pages: | 17 |
| From Page: | 351 |
| To Page: | 367 |
| Collections: | Volume 36, Number 02, August 2004
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| Ramirez2 JAAE August 2004.pdf | | 755Kb | PDF | View/Open |
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