THE VALUE OF ENDOGENIZING AGRICULTURE IN A MULTI-SECTOR MACROECONOMIC MODEL

Several agricultural economists have suggested that agricultural models could be improved by capturing all of the linkages between agriculture and the rest of the economy. In this study, a new multi—sector macroeconomic model is used to compare the forecasting abilities of first, second, and third generation agricultural simulation models. This study finds that forecasting errors can be reduced and a wider range of questions can be addressed by models that simultaneously solve for the agricultural and nonagricultural sectors of the economy.


Issue Date:
1981-07
Publication Type:
Conference Paper/ Presentation
DOI and Other Identifiers:
Record Identifier:
https://ageconsearch.umn.edu/record/279275
Language:
English
Total Pages:
29




 Record created 2018-10-26, last modified 2020-10-28

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