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Prices, Farm Outputs, and Income Projections under Alternative Assumed Demand and Supply Conditions

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  • Chung J. Yeh

Abstract

A two-equation aggregate demand and supply simulation model with Koyck-type geometrically distributed lags is used to examine the impacts of alternative demand and supply shifts on aggregate farm output, prices, and income. Impacts of inflation on important farm sector indicators are also examined. Projected solutions to 1985 indicate that strong demand shifts are needed to maintain a favorable level of prices and farm incomes. Results further suggest that the U.S. farm sector is particularly sensitive to unexpected changes or shifts in demand, and supply and prolonged inflation in the general economy.

Suggested Citation

  • Chung J. Yeh, 1976. "Prices, Farm Outputs, and Income Projections under Alternative Assumed Demand and Supply Conditions," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 58(4_Part_1), pages 703-711.
    • Handle: RePEc:oup:ajagec:v:58:y:1976:i:4_part_1:p:703-711.
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    File URL: http://hdl.handle.net/10.2307/1238813
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    1. Fox, Austin S. & Quance, C. Leroy, 1977. "Agricultural Projections To 1985 For The Northeast And Comparisons With The United States," Journal of the Northeastern Agricultural Economics Council, Northeastern Agricultural and Resource Economics Association, vol. 6(2), pages 1-13, October.
    2. Fox, Austin S. & Quance, C. Leroy, 1977. "Agricultural Projections To 1985 For The Northeast And Comparisons With The United States," Northeastern Journal of Agricultural and Resource Economics, Northeastern Agricultural and Resource Economics Association, vol. 0(Number 2), pages 1-13, October.

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