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The Food and Agricultural Policy Simulator

Author

Listed:
  • Salathe, Larry E.
  • Price, J. Michael
  • Gadson, Kenneth E.

Abstract

This article describes the structure and dynamic properties of the Food and Agricultural Policy Simulator (FAPSIM), an annual econometric model of the US agricultural sector F APSIM estimates a simultaneous price-quantity equilibrium solution for a set of individual commodity models developed for beef, pork, dairy, chickens, eggs, turkeys, corn, oats, barley, gram sorghum, wheat, soybeans, and cotton F APSIM also endogenously determines farm production expenses, cash receipts, net farm Income, Government deficiency and reserve storage payments, consumer price indexes for food products, and farmer participation 10 Government commodity programs The model estimates that each 1OO -million-bushel Increase In corn exports Increases the price of com by $0 15 per bushel

Suggested Citation

  • Salathe, Larry E. & Price, J. Michael & Gadson, Kenneth E., 1982. "The Food and Agricultural Policy Simulator," Agricultural Economics Research, United States Department of Agriculture, Economic Research Service, issue 2.
  • Handle: RePEc:ags:ueraer:148817
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    File URL: http://purl.umn.edu/148817
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    References listed on IDEAS

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    1. Michael C. Lovell, 1959. "Manufacturers' Inventories, Sales Expectations, and the Acceleration Principle," Cowles Foundation Discussion Papers 86, Cowles Foundation for Research in Economics, Yale University.
    2. Houck, James P. & Ryan, Mary E., 1972. "Supply Analysis For Corn In The United States: The Impact Of Changing Government Programs," Staff Papers 13554, University of Minnesota, Department of Applied Economics.
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    Cited by:

    1. Westcott, Paul C. & Price, J. Michael, 2001. "Analysis Of The U.S. Commodity Loan Program With Marketing Loan Provisions," Agricultural Economics Reports 34035, United States Department of Agriculture, Economic Research Service.
    2. Kilkenny, Maureen, 1988. "Modelling the Removal of Production Incentive Distortions in the US Agricultural Sector," 1988 Conference, August 24-31, 1988, Buenos Aires, Argentina 183151, International Association of Agricultural Economists.
    3. Liu, Hsiang-Hsi, 1983. "An annual simultaneous equation econometric model of U.S. corn and soybean cash and futures markets," ISU General Staff Papers 198301010800009935, Iowa State University, Department of Economics.
    4. Jeon, Jong-Pyeong, 1989. "The impacts of policy alternatives and foreign demand fluctuations on the US rice market," ISU General Staff Papers 1989010108000010204, Iowa State University, Department of Economics.
    5. Langley, Suchada V. & Somwaru, Agapi & Normile, Mary Anne, 2006. "Trade Liberalization in International Dairy Markets: Estimated Impacts," Economic Research Report 7214, United States Department of Agriculture, Economic Research Service.
    6. Smyth, Donald Craig, 1985. "Economic impacts of the Farmer-Owned Reserve program on the U.S. corn-livestock sector," ISU General Staff Papers 1985010108000013104, Iowa State University, Department of Economics.
    7. Ferjani, Ali, 2008. "Agricultural policy (AP2011) Reform and the WTO: Potential Impacts on Swiss Agriculture," 107th Seminar, January 30-February 1, 2008, Sevilla, Spain 6638, European Association of Agricultural Economists.
    8. Alston, Julian M. & Beach, E. Douglas, 1996. "Market distortions and the benefits from research into new uses for agricultural commodities: Ethanol from corn," Resource and Energy Economics, Elsevier, vol. 18(1), pages 1-29, March.

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