IMPACTS OF THE NORTHEAST INTERSTATE DAIRY COMPACT ON NEW ENGLAND MILK SUPPLY

Charles F. Nicholson, Budy P. Resosudarmo () and Rick Wackernagel

Agricultural and Resource Economics Review, 2001, vol. 30, issue 1

Abstract: A two-equation random coefficients model and two estimates of milk prices in the absence of the Northeast Interstate Dairy Compact (Compact) are used to estimate the impact of minimum price regulation for fluid milk products on milk production in the New England states. Estimated responses to price enhancement differed by state for cow numbers, but parameters for milk per cow were not significantly different among states. The amount of increase in milk production attributed to the Compact is estimated at 45 million pounds (about 1% of production) during the first year of minimum price regulation, primarily due to increased milk per cow.

Keywords: Demand and Price Analysis (search for similar items in EconPapers)
Date: 2001
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Working Paper: IMPACTS OF THE NORTHEAST INTERSTATE DAIRY COMPACT ON NEW ENGLAND MILK SUPPLY (1999)
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Persistent link: http://EconPapers.repec.org/RePEc:ags:arerjl:31610

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