MODELING THE U.S. DAIRY SECTOR WITH GOVERNMENT INTERVENTION

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.


Issue Date:
1991-12
Publication Type:
Journal Article
PURL Identifier:
http://purl.umn.edu/32602
Published in:
Western Journal of Agricultural Economics, Volume 16, Number 2
Page range:
360-373
Total Pages:
14




 Record created 2017-04-01, last modified 2017-08-25

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