Random Weather Shocks and Biased Estimates of Excess Demand
Stephen Labson ()
No 271051, 1990 Annual meeting, August 5-8, Vancouver, Canada from American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association)
In an excess demand system where random weather shocks enter multiplicatively rather than additively, estimates of the underlying parameters will be in-efficient und~r the "small country" assumptioi:i and biased in the "large country" case. A Monte Carlo simulation demonstrates that the magnitude of the bias is potentially very large.
Keywords: Demand and Price Analysis; Environmental Economics and Policy (search for similar items in EconPapers)
References: Add references at CitEc
Citations: Track citations by RSS feed
Downloads: (external link)
https://ageconsearch.umn.edu/record/271051/files/a ... 6.pdf?subformat=pdfa (application/pdf)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:ags:aaea90:271051
Access Statistics for this paper
More papers in 1990 Annual meeting, August 5-8, Vancouver, Canada from American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association) Contact information at EDIRC.
Bibliographic data for series maintained by AgEcon Search ().