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| Salathe, Larry E.; Price, J. Michael. |
| An econometric model of the dairy industry was used to estimate the effects on farmers, consumers, and taxpayers of nationwide adoption of the California nonfat solids standards for fluid milk. It was estimated that adoption of the California standards would raise farm-level milk prices by 1 to 5 percent in the short run and by 1 to 2 percent in the long run. The average retail price of fluid milk would rise by 9 to 13 cents per gallon. Dairy program costs fall under most scenarios, but could rise if surpluses fall to levels that would trigger increases in the support price. |
| Tipo: Journal Article |
Palavras-chave: Agricultural and Food Policy. |
| Ano: 1992 |
URL: http://purl.umn.edu/29633 |
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| Blaylock, James R.; Salathe, Larry E.; Green, Richard D.. |
| The Box-Cox transformation (BCT) has been frequently used as both a flexible functional form and as a decision device to distinguish among alternative model specifications. Most researchers have failed to recognize that the BCT when applied to the dependent variable can compensate for heteroskedasticity. This paper investigates a new procedure which estimates both the BCT parameters and the analytic form of heteroskedasticity. Results from the new procedure are compared to estimates obtained from the traditional method of estimating BCT models. Comparisons indicate that proper specification of the error variance can influence the magnitude of BCT parameters and alter the results of hypothesis testing. |
| Tipo: Journal Article |
Palavras-chave: Research Methods/ Statistical Methods. |
| Ano: 1980 |
URL: http://purl.umn.edu/32394 |
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