Beef supply response under uncertainty: an autoregressive distributed lag model

This is the first econometric study of dynamic beef supply response to incorporate risk aversion or, more specifically, price variance. Autoregressive distributed lag (ADL) models are estimated for cow-calf and feedlot operations using aggregate data for Alberta. In all cases, output price variance...

Full description

Saved in:
Bibliographic Details
Published in:Journal of agricultural and resource economics 2003-12, Vol.28 (3), p.519-539
Main Authors: Mbaga, M, Coyle, B.T
Format: Article
Language:English
Subjects:
autoregressive distributed lag model
Beef
Beef cattle
beef supply response
Coefficients
dynamics
Economic models
Economic uncertainty
Feedlots
Price variance
Risk aversion
Supply
uncertainty
Variable coefficients
Online Access:Get full text
Tags: Add Tag
No Tags, Be the first to tag this record!
Description
Summary:This is the first econometric study of dynamic beef supply response to incorporate risk aversion or, more specifically, price variance. Autoregressive distributed lag (ADL) models are estimated for cow-calf and feedlot operations using aggregate data for Alberta. In all cases, output price variance has a negative impact on output supply and investment. Moreover, the impacts of expected price on supply response are greater in magnitude and significance than in risk-neutral models.
ISSN:1068-5502
2327-8285
DOI:10.22004/ag.econ.31068