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Combining Casuality Tests and Path Analysis to Model Agricultural Markets

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  • Blank, Steven C.
  • Schmiesing, Brian H.

Abstract

Causality tests and path analysis are combined to create a new procedure for use in evaluating agricultural markets. The two complementary techniques combine to form a strong process for measuring the direction and strength of causal relationships within a structural equation model. An empirical example which evaluates midwestern corn market price relationships is presented.

Suggested Citation

  • Blank, Steven C. & Schmiesing, Brian H., 1985. "Combining Casuality Tests and Path Analysis to Model Agricultural Markets," Economics Staff Papers 232160, South Dakota State University, Department of Economics.
    • Handle: RePEc:ags:sdsusp:232160
    DOI: 10.22004/ag.econ.232160
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    References listed on IDEAS

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    1. Dale M. Heien, 1980. "Markup Pricing in a Dynamic Model of the Food Industry," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 62(1), pages 10-18.
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    3. Grant, Warren R. & Ngenge, Anthony Wawa & Brorsen, B. Wade & Chavas, Jean-Paul, 1983. "Grain Price Interrelationships," Journal of Agricultural Economics Research, United States Department of Agriculture, Economic Research Service, vol. 35(1), pages 1-9, January.
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    6. Sims, Christopher A, 1972. "Money, Income, and Causality," American Economic Review, American Economic Association, vol. 62(4), pages 540-552, September.
    7. David A. Bessler & Jon A. Brandt, 1982. "Causality Tests in Livestock Markets," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 64(1), pages 140-144.
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    Agribusiness; Marketing;

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