A Simple Empirical Model of Macroeconomic Effects on Agriculture: An Asset Market Approach

John Kitchen ()

No 278199, Staff Reports from United States Department of Agriculture, Economic Research Service

Abstract: The asset market approach specifies a direct relationship between flexible prices and the growth of the money supply in excess of real money demand. The model described in this report uses the asset market approach in estimating macroeconomic effects on agricultural prices, cash receipts, and land values. Agriculture-specific effects are also included in the model through a use-to-stock ratio variable. Simulations are run to illustrate the effects of alternative monetary and agricultural situations on the agricultural variables.

Keywords: Agricultural and Food Policy; Demand and Price Analysis (search for similar items in EconPapers)
Pages: 25
Date: 1989-05
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:ags:uerssr:278199

DOI: 10.22004/ag.econ.278199

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