Modeling The U.S. Dairy Sector With Government Intervention
AbstractAn econometric framework for estimating a two-regime dairy structural system is presented. Failure to account for switching between regimes due to government price intervention raises the problem of selectivity bias. Further, since a structural system of equations is involved, the problem is not limited to the market associated with the intervention. Rather, bias from a single source can distort all equations in the system. The ramifications of not correcting for the bias in policy analyses are investigated.
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Bibliographic InfoArticle provided by Western Agricultural Economics Association in its journal Western Journal of Agricultural Economics.
Volume (Year): 16 (1991)
Issue (Month): 02 (December)
Agricultural and Food Policy; Industrial Organization;
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- Jeffrey T. LaFrance & Harry D. Gorter, 1985. "Regulation in a Dynamic Market: The U.S. Dairy Industry," Monash Economics Working Papers archive-34, Monash University, Department of Economics.
- Kaiser, Harry M. & Forker, Olan D., 1993. "Analysis Of Generi<; Dairy Advertising Scenarios On Retail, Wholesale, And Farm Milk Markets," Research Bulletins 123010, Cornell University, Department of Applied Economics and Management.
- Bailey, Kenneth W., 2000. "Evaluating The Economic Impacts Of Regional Milk Pricing Authorities: The Case Of Dairy Compacts," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, vol. 29(2), October.
- Kaiser, Harry M., 1995. "An Analysis of Generic Dairy Promotion in the United States," Research Bulletins 122997, Cornell University, Department of Applied Economics and Management.
- Bailey, Kenneth W., 2009. "Documentation of a Dynamic and Simultaneous Econometric Model of the U.S. Dairy Industry," Staff Paper Series 48653, Pennsylvania State University, Department of Agricultural Economics and Rural Sociology.
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