Evaluating the Farmerâ€™s-Share-of-the-Retail-Dollar Statistic
AbstractConventional wisdom appears to support the thesis that declines in USDAâ€™s farmerâ€™s share-of-the-retail-dollar (FS) statistics are indicators of low returns to agricultural production. We estimate changes in cattle and hog FS statistics and their relationship with producer surplus (PS) for changes in various exogenous factors. The method accounts for correlations among structural parameter estimates while simulating multivariate distributions of joint parameter realizations. The simulations indicate that relationships between FS and PS depend on the source of exogenous shocks. The lack of informational content in FS statistics suggests these data should not be used for policy purposes.
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Bibliographic InfoArticle provided by Western Agricultural Economics Association in its journal Journal of Agricultural and Resource Economics.
Volume (Year): 34 (2009)
Issue (Month): 2 (August)
farmerâ€™s share of the retail dollar; marketing margins; producer surplus; total response elasticities; Agricultural Finance;
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