Heteroskedasticity in Crop Yield Models
AbstractThis study examines three alternative models of correcting for heteroskedasticity in wheat yield: the time trend variance, the GARCH, and an econometric model that includes the potential sources of heteroskedasticity. Nonnested test results suggest that modeling the sources of heteroskedasticity is the preferred procedure. Including potential sources of heteroskedasticity as explanatory variables removed the heteroskedasticity in the sample wheat yields. The results also suggest that the GARCH specification is a promising model of correcting for heteroskedasticity when the sources cannot be identified. The time trend variance model alone may misspecify the true variance structure.
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Bibliographic InfoPaper provided by North Dakota State University, Department of Agribusiness and Applied Economics in its series Statistical Series Reports with number 121402.
Date of creation: Jun 1991
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- Aradhyula, Satheesh V. & Holt, Matthew T., 1988.
"Garch Time-Series Models: An Application To Retail Livestock Prices,"
Western Journal of Agricultural Economics,
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- Satheesh V. Aradhyula & Matthew T. Holt, 1988. "GARCH Time Series Models: An Application to Retail Livestock Prices," Center for Agricultural and Rural Development (CARD) Publications 88-wp29, Center for Agricultural and Rural Development (CARD) at Iowa State University.
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- Kapiamba, Luabeya F., 2005. "Modeling Heteroskedasticity of Crop Yield Distributions: Implications for Normality," 2005 Annual meeting, July 24-27, Providence, RI 19475, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
- Chavas, Jean-Paul & Kim, Kwansoo & Lauer, Joseph G. & Klemme, Richard M. & Bland, William L., 2001. "An Economic Analysis Of Corn Yield, Corn Profitability, And Risk At The Edge Of The Corn Belt," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 26(01), July.
- Aizhen Li & Boris E. Bravo-Ureta & David K. Okello & Carl M. Deom & Naveen Puppala, 2013. "Groundnut Production and Climatic Variability: Evidence from Uganda," Working Papers 17, University of Connecticut, Department of Agricultural and Resource Economics, Charles J. Zwick Center for Food and Resource Policy.
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