Documentation of a Dynamic and Simultaneous Econometric Model of the U.S. Dairy Industry
AbstractThe objective of this report is to publish a monthly forecasting tool of the U.S. dairy industry. This model forecasts the milk supply as well as the supply and demand for American cheese, Other cheese, butter, nonfat dry milk, and dry whey. Trade is presently exogenous to the model, but can be endogenized at a later date. The principal use of the model will be for forecasting purposes, thus we settled on a monthly frequency for the data. We delve into the complexities of the U.S. dairy industry using rich data sources. Our objective is clearly focused on developing an initial forecasting tool.
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Bibliographic InfoPaper provided by Pennsylvania State University, Department of Agricultural Economics and Rural Sociology in its series Staff Paper Series with number 48653.
Date of creation: Mar 2009
Date of revision:
Econometric model; U.S. Dairy Industry; Forecasting Model; Agribusiness; Marketing;
This paper has been announced in the following NEP Reports:
- NEP-AGR-2009-05-02 (Agricultural Economics)
- NEP-ALL-2009-05-02 (All new papers)
- NEP-FOR-2009-05-02 (Forecasting)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Liu, Donald J. & Kaiser, Harry M. & Mount, Timothy D. & Forker, Olan D., 1991. "Modeling The U.S. Dairy Sector With Government Intervention," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 16(02), December.
- Liu, Donald J. & Sun, Chin-Hwa & Kaiser, Harry M., 1995. "Market Conduct Under Government Price Intervention In The U.S. Dairy Industry," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 20(02), December.
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