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Modeling The U.S. Dairy Sector With Government Intervention

Author

Listed:
  • Liu, Donald J.
  • Kaiser, Harry M.
  • Mount, Timothy D.
  • Forker, Olan D.

Abstract

An econometric framework for estimating a two-regime dairy structural system is presented. Failure to account for switching between regimes due to government price intervention raises the problem of selectivity bias. Further, since a structural system of equations is involved, the problem is not limited to the market associated with the intervention. Rather, bias from a single source can distort all equations in the system. The ramifications of not correcting for the bias in policy analyses are investigated.

Suggested Citation

  • Liu, Donald J. & Kaiser, Harry M. & Mount, Timothy D. & Forker, Olan D., 1991. "Modeling The U.S. Dairy Sector With Government Intervention," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 16(02), December.
  • Handle: RePEc:ags:wjagec:32602
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    References listed on IDEAS

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    1. Jeffrey T. LaFrance & Harry de Gorter, 1985. "Regulation in a Dynamic Market: The U.S. Dairy Industry," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 67(4), pages 821-832.
    2. H. E. Doran & J. J. Quilkey, 1972. "Harmonic Analysis of Seasonal Data: Some Important Properties," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 54(4_Part_1), pages 646-651.
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    Cited by:

    1. Kaiser, Harry M., 1995. "An Analysis of Generic Dairy Promotion in the United States," Research Bulletins 122997, Cornell University, Department of Applied Economics and Management.
    2. Kaiser, Harry M. & Forker, Olan D., 1993. "Analysis Of Generi<; Dairy Advertising Scenarios On Retail, Wholesale, And Farm Milk Markets," Research Bulletins 123010, Cornell University, Department of Applied Economics and Management.
    3. Bailey, Kenneth W., 2000. "Evaluating The Economic Impacts Of Regional Milk Pricing Authorities: The Case Of Dairy Compacts," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, vol. 29(2), October.
    4. Bailey, Kenneth W., 2009. "Documentation of a Dynamic and Simultaneous Econometric Model of the U.S. Dairy Industry," Staff Paper Series 48653, Pennsylvania State University, Department of Agricultural Economics and Rural Sociology.
    5. Kaiser, Harry M., 1998. "Impact of National Generic Dairy Advertising on Dairy Markets, 1984-97," Research Bulletins 122690, Cornell University, Department of Applied Economics and Management.

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