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000201558 005__ 20250401105559.0
000201558 0247_ $$2doi$$a10.22004/ag.econ.201558
000201558 037__ $$a1803-2016-142457
000201558 041__ $$aeng
000201558 245__ $$aThe Effects of Stocks and Price Floors on Price Dynamics and Volatility: An Application to the U.S. Nonfat Dry Milk Market
000201558 260__ $$c2002
000201558 269__ $$a2002
000201558 300__ $$a33
000201558 336__ $$aWorking or Discussion Paper
000201558 490__ $$aFSWP
000201558 490__ $$a2002-02
000201558 520__ $$aThis paper presents an econometric analysis of the effects of price support programs
and stocks on price dynamics and price volatility. Considering a price support program as a
censoring mechanism, market prices are specified as a dynamic Tobit model with time
varying volatility. The model is applied to the U.S. nonfat dry milk market to examine the
impact of market liberalization on price dynamics and price volatility in the presence of
private and public stocks. The econometric results show how the price support program and
stocks (both private and public) affect expected price and price volatility. They document the
role of stocks in reducing price volatility.
000201558 650__ $$aFood Consumption/Nutrition/Food Safety
000201558 650__ $$aResearch and Development/Tech Change/Emerging Technologies
000201558 650__ $$aResearch Methods/Statistical Methods
000201558 700__ $$aKim, Kwansoo
000201558 700__ $$aChavas, Jean-Paul
000201558 8564_ $$9d8f00ad9-6f56-43ed-bb25-40878495cd4d$$s93701$$uhttps://ageconsearch.umn.edu/record/201558/files/wp2002-2.PDF
000201558 887__ $$ahttp://purl.umn.edu/201558
000201558 909CO $$ooai:ageconsearch.umn.edu:201558$$pGLOBAL_SET
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  Previous issue date: 2002
000201558 913__ $$aLicense granted by Abigail  Porter  (porte542@umn.edu) on 2015-04-13T19:41:33Z (GMT):

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000201558 980__ $$a1803
000201558 982__ $$gUniversity of Wisconsin>Department of Agricultural and Applied Economics>Food System Research Group>Working Papers