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Information-based estimators for the non-stationary transition probability matrix: an application to the Danish pork industry

  • Karantininis, Kostas

A generalised cross entropy instrumental variables estimator is used to recover the non-stationary transition probability matrix for the Danish pork industry. A technique is also developed to recover missing data points due to category re-specifications. The impact of a set of exogenous variables (prices of pork meat, inputs, and pork substitutes), are evaluated in the form of elasticities. An overall assessment of entry exit and growth of farms is performed.

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File URL: http://www.sciencedirect.com/science/article/B6VC0-44CNPH6-3/2/08d7cfb85c2f5c5405e17cd18066a03f
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Article provided by Elsevier in its journal Journal of Econometrics.

Volume (Year): 107 (2002)
Issue (Month): 1-2 (March)
Pages: 275-290

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Handle: RePEc:eee:econom:v:107:y:2002:i:1-2:p:275-290
Contact details of provider: Web page: http://www.elsevier.com/locate/jeconom

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  1. Golan, Amos & Judge, George & Perloff, Jeffrey, 1997. "Estimation and inference with censored and ordered multinomial response data," Journal of Econometrics, Elsevier, vol. 79(1), pages 23-51, July.
  2. Disney, W. Terry & Duffy, Patricia A. & Hardy, William E., Jr., 1988. "A Markov Chain Analysis Of Pork Farm Size Distributions In The South," Southern Journal of Agricultural Economics, Southern Agricultural Economics Association, vol. 20(02), December.
  3. Evans, David S., 1986. "Tests of Alternative Theories of Firm Growth," Working Papers 86-36, C.V. Starr Center for Applied Economics, New York University.
  4. Jovanovic, Boyan, 1982. "Selection and the Evolution of Industry," Econometrica, Econometric Society, vol. 50(3), pages 649-70, May.
  5. Mike Massow & Alfons Weersink & Calum G. Turvey, 1992. "Dynamics of Structural Change in the Ontario Hog Industry," Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 40(1), pages 93-107, 03.
  6. Zepeda, Lydia, 1995. "Technical Change and the Structure of Production: A Non-stationary Markov Analysis," European Review of Agricultural Economics, Foundation for the European Review of Agricultural Economics, vol. 22(1), pages 41-60.
  7. McFadden, Daniel, 1974. "The measurement of urban travel demand," Journal of Public Economics, Elsevier, vol. 3(4), pages 303-328, November.
  8. Amos Golan & Stephen Vogel, 2000. "Estimation of Non-Stationary Social Accounting Matrix Coefficients with Supply-Side Information," Economic Systems Research, Taylor & Francis Journals, vol. 12(4), pages 447-471.
  9. MacRae, Elizabeth Chase, 1977. "Estimation of Time-Varying Markov Processes with Aggregate Data," Econometrica, Econometric Society, vol. 45(1), pages 183-98, January.
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