MODELING THE U.S. DAIRY SECTOR WITH GOVERNMENT INTERVENTION

Donald Liu, Harry Kaiser, Timothy D. Mount and Olan D. Forker

Western Journal of Agricultural Economics, 1991, vol. 16, issue 2, 14

Abstract: 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.

Keywords: Agricultural and Food Policy; Industrial Organization (search for similar items in EconPapers)
Date: 1991
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Citations: View citations in EconPapers (12)

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Related works:
Working Paper: Modeling the U.S. Dairy Sector with Government Intervention (1990)
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Persistent link: https://EconPapers.repec.org/RePEc:ags:wjagec:32602

DOI: 10.22004/ag.econ.32602

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