A Dynamic Model of the U.S. Tobacco Economy

Jitendar S. Mann

Journal of Agricultural Economics Research, 1973, vol. 25, issue 3, 12

Abstract: A 14 equation recursive model is developed for (1) flue-cured acreage, (2) burley acreage, (3) flue-cured price, (4) burley price, and (5) consumer demand for cigarettes. The coefficients are estimated using data for 1954-70. The reduced form and the impact multipliers are derived. The multipliers are used to illustrate the impact of a 3.5-cent increase in the support rate for flue-cured tobacco. A comparison of the reduced-form estimated values with observed values of 14 endogenous variables showed a good fit for the model over the period studied.

Keywords: Crop Production/Industries; Production Economics; Research Methods/Statistical Methods (search for similar items in EconPapers)
Date: 1973
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Persistent link: https://EconPapers.repec.org/RePEc:ags:uersja:147151

DOI: 10.22004/ag.econ.147151

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