State-Space Modeling of Cyclical Supply, Seasonal Demand, and Agricultural Inventories

Jeffrey Dorfman () and Arthur Havenner

American Journal of Agricultural Economics, 1991, vol. 73, issue 3, 829-840

Abstract: The production of certain agricultural products follows an alternate bearing pattern of large and small crops. Many agricultural products also experience seasonal shifts in demand. Such patterns present a natural opportunity for profitable inventories. This paper applies state-space modeling techniques to the problem of modeling cyclical patterns in supply and demand and presents an application to the determination of inventory levels for such agricultural products using linear quadratic control.

Date: 1991
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Persistent link: https://EconPapers.repec.org/RePEc:oup:ajagec:v:73:y:1991:i:3:p:829-840.

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