Stochastic Analysis of World Cotton Outlook Addendum to the 2007/08-2017/18 Baseline
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KeywordsThe cotton market baseline analysis released in 2008 (Ethridge et al.) provided critical information about the future of the world cotton market over the next ten years (2007/02- 2017/18). It is based on a deterministic approach that utilizes the world fiber model developed by the Cotton Economics Research Institute (CERI) at Texas Tech University (Pan et al. 2004). The world fiber model is a multi-country multi-sector partial equilibrium model that includes the world’s 24 major cotton importing and exporting countries and regions. While the deterministic model provides the best available point estimates of potential market outcomes; it does not reveal information about the underlying variability of these markets over time.; Agricultural and Food Policy;
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