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| Vere, David T.; Griffith, Garry R.. |
| The perceived value of integrating small partial- equilibrium structural models of individual livestock industries into a comprehensive single-sector model is to take advantage of the interrelationships that are usually expressed by cross elasticities on both the supply and demand sides of these industries. Model integration should provide a more realistic representation of the livestock industries and an improved mechanism for industry analyses. However, model integration could also lead to increased error in model simulation that could reduce the value of the larger model for those purposes. Using forecasting as an example application, this paper investigates how the increased endogenisation of cross-commodity relationships in alternative structural... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Structural econometric models; Model integration; Forecasting; Economic analysis; Livestock Production/Industries. |
| Ano: 2003 |
URL: http://purl.umn.edu/12916 |
