Rational Expectations and Agricultural Policy: An Econometric Application to the U.S. Dairy Economy

Cameron S. Thraen

No 279141, 1982 Annual Meeting, August 1-4, Logan, Utah from American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association)

Abstract: The conceptual and econometric implications of the rational expectations paradigm for modelling producers' expectations are derived for a simple macro-economic model of the dairy producing sector. It is demonstrated that the parameters of the estimated reducedform equations are functions of the speafic dairy price-support rule in effect.

Keywords: Agricultural and Food Policy; Livestock Production/Industries (search for similar items in EconPapers)
Pages: 15
Date: 1982-08
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Persistent link: https://EconPapers.repec.org/RePEc:ags:aaea82:279141

DOI: 10.22004/ag.econ.279141

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