NUMERAIRE CHOICE IN AGRICULTURAL SUPPLY ANALYSIS

Economic theory provides little guidance for selecting a numeraire in estimating dual function profit functions. In this study, we examine the choice of numeraire price (equation) for profit function models of Iowa agriculture. The choice of numeraire is evaluated by forecasting accuracy and with a non-nested specification test.


Issue Date:
1998
Publication Type:
Conference Paper/ Presentation
PURL Identifier:
http://purl.umn.edu/20962
Total Pages:
14
Series Statement:
Selected Paper




 Record created 2017-04-01, last modified 2017-08-24

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