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Modeling of Agricultural Markets and Prices Using Causality and Path Analysis
Author(s) -
Blank Steven C.,
Schmiesing Brian H.
Publication year - 1988
Publication title -
applied economic perspectives and policy
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.4
H-Index - 49
eISSN - 2040-5804
pISSN - 2040-5790
DOI - 10.1093/aepp/10.1.35
Subject(s) - economics , robustness (evolution) , econometrics , granger causality , causality (physics) , agriculture , path (computing) , financial economics , computer science , geography , chemistry , biochemistry , physics , quantum mechanics , gene , programming language , archaeology
This study proposes and evaluates a new procedure for use in analysis of both agricultural markets and prices. Causal models of both corn and wheat prices are presented as empirical examples. Results have implications for both grain market structure and the robustness of Granger‐type causality tests.