SIMULTANEOUS FORECASTING OF PRICE MAGNITUDE AND DIRECTION USING TWO-STAGE OLS-PROBIT

Livia Cloman, James Epperson and Tsu-Tan Fu

No 270145, 1987 Annual Meeting, August 2-5, East Lansing, Michigan from American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association)

Abstract: The ability to accurately forecast price hinges largely on an ability to reflect both dimensions of price, magnitude and direction, in a forecasting model. This paper demonstrates how price magnitude and direction can be captured in a simultaneous forecasting system. Empirical results reflect the importance of the simultaneous forecasting procedure.

Keywords: Agricultural and Food Policy; Demand and Price Analysis (search for similar items in EconPapers)
Pages: 16
Date: 1987-08-02
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Persistent link: https://EconPapers.repec.org/RePEc:ags:aaea87:270145

DOI: 10.22004/ag.econ.270145

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