NONROBUSTNESS OF DYNAMIC DUAL MODELS OF THE NORTHEASTERN AND U.S. DAIRY INDUSTRIES

The robustness of dynamic dual models examined by Howard and Shumway is reevaluated with the proper specification for the modified generalized Leontief (GL) and normalized quadratic (NQ) functional forms. In an application to the Northeastern and U.S. dairy industries, the theoretical properties, adjustment rates, and predictive ability were similar under both functional forms. However, elasticity measures differed significantly.


Issue Date:
1990-04
Publication Type:
Journal Article
PURL Identifier:
http://purl.umn.edu/28964
Published in:
Northeastern Journal of Agricultural and Resource Economics, Volume 19, Number 1
Page range:
12-16
Total Pages:
5




 Record created 2017-04-01, last modified 2017-08-24

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