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Dynamic PEATSim Model: Documenting Its Use in Analyzing Global Commodity Markets

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  • Somwaru, Agapi
  • Dirkse, Steve
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    Abstract

    This report documents the updated version of the Partial Equilibrium Agricultural Trade Simulation (PEATSim) model developed by USDA’s Economic Research Service. PEATSim is a global model, covering 31 commodities and 27 countries/regions. The model, consistent with economic theory, provides a flexible country and commodity aggregation and accounts for cross-commodity linkages and interactions. The report includes a presentation and discussion of the structure and specific features of the revamped model, along with the theoretical underpinnings. It also documents an application of the model to illustrate its dynamic structure and to demonstrate the differential behavior.

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    File URL: http://purl.umn.edu/129359
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    Bibliographic Info

    Paper provided by United States Department of Agriculture, Economic Research Service in its series Technical Bulletins with number 129359.

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    Date of creation: Jul 2012
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    Handle: RePEc:ags:uerstb:129359

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    Related research

    Keywords: Partial equilibrium; dynamic; trade; multi-commodity markets; agriculture; global model; Agricultural and Food Policy; International Relations/Trade; Research Methods/ Statistical Methods;

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    1. Golan, Amos & Judge, George G. & Miller, Douglas, 1996. "Maximum Entropy Econometrics," Staff General Research Papers 1488, Iowa State University, Department of Economics.
    2. Langley, Suchada V. & Blayney, Donald P. & Stout, Jim & Somwaru, Agapi & Normile, Mary Anne & Miller, James J. & Stillman, Richard, 2003. "A Trade Liberalization In International Dairy Markets," 2003 Annual meeting, July 27-30, Montreal, Canada 21997, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    3. Golan, Amos, 2002. "Information and Entropy Econometrics--Editor's View," Journal of Econometrics, Elsevier, vol. 107(1-2), pages 1-15, March.
    4. Beghin, John C. & Dong, Fengxia & Elobeid, Amani E. & Fabiosa, Jacinto F. & Fuller, Frank H. & Hart, Chad E. & Kovarik, Karen & Tokgoz, Simla & Yu, Tun-Hsiang (Edward) & Wailes, Eric J. & Chavez, Eddi, 2007. "FAPRI 2007 U.S. and World Agricultural Outlook," Staff Reports 7296, Food and Agricultural Policy Research Institute (FAPRI).
    5. Blayney, Donald P. & Gehlhar, Mark J. & Bolling, H. Christine & Jones, Keithly G. & Langley, Suchada V. & Normile, Mary Anne & Somwaru, Agapi, 2006. "U.S. Dairy at a Global Crossroads," Economic Research Report 7209, United States Department of Agriculture, Economic Research Service.
    6. Valdes, Constanza & Arriola, Christine & Somwaru, Agapi & Gasques, Jose Garcia, 2010. "Brazil’S Climate Adaptation Policies: Impacts On Agriculture," Proceedings Issues, 2010: Climate Change in World Agriculture: Mitigation, Adaptation, Trade and Food Security, June 2010, Stuttgart- Hohenheim, Germany 91420, International Agricultural Trade Research Consortium.
    7. Zahniser, Steven & Arriola, Christine & Somwaru, Agapi, 2010. "The European Union’S Framework For Climate Change Adaptation: Implications Of Agriculture’S Adaptation Through Sustained Yield Growth," Proceedings Issues, 2010: Climate Change in World Agriculture: Mitigation, Adaptation, Trade and Food Security, June 2010, Stuttgart- Hohenheim, Germany 91406, International Agricultural Trade Research Consortium.
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