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Distributed Lag Estimation of Harmonic Motion in the Hog Market
Author(s) -
Jelavich Mark S.
Publication year - 1973
Publication title -
american journal of agricultural economics
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.949
H-Index - 111
eISSN - 1467-8276
pISSN - 0002-9092
DOI - 10.2307/1238442
Subject(s) - distributed lag , lag , harmonic , econometrics , estimation , inference , motion (physics) , economics , time lag , computer science , artificial intelligence , physics , acoustics , computer network , management
The harmonic motion model as explanation of some markets' behavior is an alternative to the cobweb model. A distributed lag technique for estimating harmonic motion is presented. Results are consistent with the four‐year period observed in the hog cycle; an inference about farmers' expectations can be made from the results.