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Incorporating Commodity Stockholding Behavior Into A Short-Run General Equilibrium Model Of The Global Economy

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  • Hertel, Thomas W.
  • Reimer, Jeffrey J.
  • Valenzuela, Ernesto

Abstract

This paper incorporates commodity stockholding into a short run, stochastic global general equilibrium model. A mix of econometric and calibration techniques are used to reconcile model outcomes with historical stockholding and price behavior. The resulting framework is useful for analyzing policies in the short run or presence of production variability.

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File URL: http://purl.umn.edu/22110
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Bibliographic Info

Paper provided by American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association) in its series 2003 Annual meeting, July 27-30, Montreal, Canada with number 22110.

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Date of creation: 2003
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Handle: RePEc:ags:aaea03:22110

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Keywords: Agribusiness;

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  1. Edwards, Sebastian, 1998. "Openness, Productivity and Growth: What Do We Really Know?," Economic Journal, Royal Economic Society, vol. 108(447), pages 383-98, March.
  2. Finn E. Kydland & Edward C. Prescott, 1994. "The computational experiment: an econometric tool," Staff Report 178, Federal Reserve Bank of Minneapolis.
  3. Hertel, Thomas W. & Preckel, Paul V. & Reimer, Jeffrey J., 2001. "Trade Policy, Food Price Variability, And The Vulnerability Of Low-Income Households," 2001 Annual meeting, August 5-8, Chicago, IL 20692, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
  4. DeVuyst, Eric A. & Preckel, Paul V., 1997. "Sensitivity analysis revisited: A quadrature-based approach," Journal of Policy Modeling, Elsevier, vol. 19(2), pages 175-185, April.
  5. Anonymous & Jones, Elizabeth A., 1998. "Regional Trade Agreements and U.S. Agriculture," Agricultural Information Bulletins 33661, United States Department of Agriculture, Economic Research Service.
  6. Anonymous & Jones, Elizabeth A., 1998. "Regional Trade Agreements and U.S. Agriculture," Agricultural Economics Reports 33979, United States Department of Agriculture, Economic Research Service.
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