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Apple Price And Production Forecasts For Maine And The United States

Author

Listed:
  • Hayward, Russel A.
  • Criner, George K.
  • Skinner, Steven P.

Abstract

An econometric model of U.S. and Maine apple production and prices was estimated with ordinary least squares multiple regression. A Gauss-Seidel solution technique was used to examine the equation system goodness of fit and to forecast endogenous variable values. Results indicate that supply expansion in the U.S. and Maine will continue, but Maine's slower rate of increase will erode its market share. Apple prices for the U.S. and Maine are predicted to decline in real terms by the year 2000 if inflation rates exceed 3 percent annually during the period 1982 to 2000.

Suggested Citation

  • Hayward, Russel A. & Criner, George K. & Skinner, Steven P., 1984. "Apple Price And Production Forecasts For Maine And The United States," Northeastern Journal of Agricultural and Resource Economics, Northeastern Agricultural and Resource Economics Association, vol. 13(2), pages 1-9, October.
    • Handle: RePEc:ags:nejare:28901
    DOI: 10.22004/ag.econ.28901
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    References listed on IDEAS

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    1. Ben C. French & Jim L. Matthews, 1971. "A Supply Response Model for Perennial Crops," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 53(3), pages 478-490.
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    Cited by:

    1. Willett, Lois Schertz, 1993. "The U.S. Apple Industry: Econometric Model And Projections," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, vol. 22(2), pages 1-13, October.

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