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Application of Vector Autoregression to Dynamic Relationships within the U.S. Dairy Sector
Author(s) -
Haden Kimberly L.,
VanTassell Larry W.
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/10.2.209
Subject(s) - vector autoregression , a priori and a posteriori , structural vector autoregression , econometrics , lag , autoregressive model , bayesian vector autoregression , economics , computer science , mathematics , macroeconomics , statistics , monetary policy , computer network , bayesian probability , philosophy , epistemology
Abstract Numerous studies have econometrically analyzed the dairy sector and effects of alternative dairy policies. While many of these studies have included dynamic aspects, often strict a priori assumptions have been made concerning which variables enter each equation and the lag length or the structure of the lags. Vector autoregression is a dynamic multiequation technique that places few a priori restrictions on the system of relationships. This study attempts to analyze several of the dynamic relationships in the dairy sector utilizing a vector autoregression.