PRICE DETERMINATION IN STRUCTURAL MODELS: A COMPARISON OF ALTERNATIVE INVERSE DEMAND SPECIFICATIONS

Dean T. Chen and Gerard S. Dharmaratne

No 271156, 1991 Annual Meeting, August 4-7, Manhattan, Kansas from American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association)

Abstract: A theoretical framework is proposed to evaluate price determination behavior of alternative inverse demand specifications of structural models. Price impacts of a wheat model to a supply shock indicated that inverse domestic demand and inverse export demand were inappropriate specifications, while inverse stock demand specification generated credible results.

Keywords: Demand and Price Analysis; Research Methods/Statistical Methods (search for similar items in EconPapers)
Pages: 23
Date: 1991-08-04
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Persistent link: https://EconPapers.repec.org/RePEc:ags:aaea91:271156

DOI: 10.22004/ag.econ.271156

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