The Impact Of Macrovariables On The Farm Sector: Some Further Evidence
Granger-causality tests and Sims' VAR techniques were used to analyze the impact of macrovariables on farm output and prices in the U.S. for the period 1934-1987. Granger-causality tests show one-way causality from the macrovariables to the farm sector variables, and this is supported by impulse response functions from a VAR model. Money and interest rate effects on agricultural prices and output are apparent in the data.
Volume (Year): 22 (1990)
Issue (Month): 01 (July)
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- Rausser, Gordon C. & Chalfant, James A. & Love, H. Alan & Stamoulis, Kostas G., 1986.
"Macroeconomic linkages, taxes, and subsidies in the U.S. agricultural sector,"
CUDARE Working Paper Series
393, University of California at Berkeley, Department of Agricultural and Resource Economics and Policy.
- Rausser, Gordon C. & James, Chalfant A. & Love, H. Alan & Stamoulis, Kostas G., 1986. "Macroeconomic linkages, taxes, and subsidies in the U.S. agricultural sector," Department of Agricultural & Resource Economics, UC Berkeley, Working Paper Series qt1nj635tk, Department of Agricultural & Resource Economics, UC Berkeley.
- Dickey, David A & Fuller, Wayne A, 1981. "Likelihood Ratio Statistics for Autoregressive Time Series with a Unit Root," Econometrica, Econometric Society, vol. 49(4), pages 1057-72, June.
- Sims, Christopher A, 1980. "Macroeconomics and Reality," Econometrica, Econometric Society, vol. 48(1), pages 1-48, January.
- Bordo, Michael David, 1980. "The Effects of Monetary Change on Relative Commodity Prices and the Role of Long-Term Contracts," Journal of Political Economy, University of Chicago Press, vol. 88(6), pages 1088-1109, December.
- Chambers, Robert G. & Just, Richard E., 1982. "An investigation of the effect of monetary factors on agriculture," Journal of Monetary Economics, Elsevier, vol. 9(2), pages 235-247.
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