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ESTIMATION OF A U.S. DAIRY SECTOR MODEL BY MAXIMUM SIMULATED LIKELIHOOD

Arias, Carlos; Cox, Thomas L.
1998
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This paper estimates a multivariate tobit system of monthly wholesale dairy prices where 4 prices are lower censored by the dairy price support program. Using Maximum Simulated Likelihood (MSL) we test/correct for the effects of simulation noise and present two tests for estimating multivariate versus the singel tobit equations.

Title
ESTIMATION OF A U.S. DAIRY SECTOR MODEL BY MAXIMUM SIMULATED LIKELIHOOD
Author(s)
Arias, Carlos
Cox, Thomas L.
Subject(s)
Issue Date
1998
Publication Type
Conference Paper/ Presentation
Digital Object Identifier
https://doi.org/10.22004/ag.econ.20804
Record Identifier
https://ageconsearch.umn.edu/record/20804
PURL Identifier
http://purl.umn.edu/20804
Language
English
Total Pages
15
Series Statement
Selected Paper
Record Appears in
Agricultural and Applied Economics Association (AAEA) > Agricultural and Applied Economics Association (AAEA) Conferences > 1998 Annual meeting, August 2-5, Salt Lake City, UT

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