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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- 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.
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"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.
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