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A Cautionary Note On Polynomial Distributed Lag Formulations Of Supply Response

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  • Azzam, Azzeddine M.
  • Yanagida, John F.

Abstract

This paper uses the Pagano-Hartley procedure to estimate the lag length and polynomial degree for the case of a quarterly hog supply equation. The results show that the nicely humped shapes which materialize when using the Almon lag may be caused by the failure in accounting for autocorrelation in determining lag length and polynominal degree.

Suggested Citation

  • Azzam, Azzeddine M. & Yanagida, John F., 1987. "A Cautionary Note On Polynomial Distributed Lag Formulations Of Supply Response," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 12(01), pages 1-5, July.
    • Handle: RePEc:ags:wjagec:32471
    DOI: 10.22004/ag.econ.32471
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    References listed on IDEAS

    as
    1. Hendry, David F. & Pagan, Adrian R. & Sargan, J.Denis, 1984. "Dynamic specification," Handbook of Econometrics, in: Z. Griliches† & M. D. Intriligator (ed.), Handbook of Econometrics, edition 1, volume 2, chapter 18, pages 1023-1100, Elsevier.
    2. Dean Chen & Richard Courtney & Andrew Schmitz, 1972. "A Polynomial Lag Formulation of Milk Production Response," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 54(1), pages 77-83.
    3. K. D. Meilke & A. C. Zwart & L. J. Martin, 1974. "North American Hog Supply: A Comparison Of Geometric And Polynomial Distributed Lag Models," Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 22(2), pages 15-30, July.
    4. Surendra N. Kulshreshtha, 1976. "An Analysis of the Canadian Cattle Supply Using Polynomial Distributed Lags," Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 24(2), pages 1-14, July.
    5. Mizon, Grayham E, 1977. "Inferential Procedures in Nonlinear Models: An Application in a UK Industrial Cross Section Study of Factor Substitution and Returns to Scale," Econometrica, Econometric Society, vol. 45(5), pages 1221-1242, July.
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    Cited by:

    1. Chambers, Robert G. & Pope, Rulon D., 1989. "What Do Aggregate Agricultural Supply and Demand Curves Mean?," Working Papers 197605, University of Maryland, Department of Agricultural and Resource Economics.
    2. Chambers, Robert G. & Pope, Rulon D., 1989. "What Do Aggregate Agricultural Supply and Demand Curves Mean?," 1990 Conference (34th), February 13-15, 1990, Brisbane, Australia 144922, Australian Agricultural and Resource Economics Society.
    3. Augustin Kwasi Fosu, 2011. "Terms of Trade and Growth of Resource Economies: A Tale of Two Countries," CSAE Working Paper Series 2011-09, Centre for the Study of African Economies, University of Oxford.

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