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Predictive Densities for Shire Level Wheat Yield in Western Australia

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Author Info
William E Griffiths
Lisa S Newton
Christopher J O’Donnell

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Abstract

Wheat yield in Western Australia (WA) depends critically on rainfall during three periods – germination, growing and flowering. The degree of uncertainty attached to a wheat-yield prediction depends on whether the prediction is made before or after the rainfall in each period has been realised. Bayesian predictive densities that reflect the different levels of uncertainty in wheat-yield predictions made at four different points in time are derived for five shires in Western Australia. The framework used for prediction is a linear regression model with stochastic regressors and inequality restrictions on the coefficients. An algorithm is developed that can be used more generally for obtaining Bayesian predictive densities in linear and nonlinear models with inequality constraints, and with or without stochastic regressors.

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File URL: http://www.economics.unimelb.edu.au/SITE/research/workingpapers/wp08/1051.pdf
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Publisher Info
Paper provided by The University of Melbourne in its series Department of Economics - Working Papers Series with number 1051.

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Length: 30 pages
Date of creation: 2008
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Handle: RePEc:mlb:wpaper:1051

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Postal: Department of Economics, The University of Melbourne, 5th Floor, Economics and Commerce Building, Victoria, 3010, Australia
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Related research
Keywords: Bayesian forecasting; inequality restrictions; random regressors.;

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This paper has been announced in the following NEP Reports: References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Chatfield, Chris, 1993. "Calculating Interval Forecasts," Journal of Business & Economic Statistics, American Statistical Association, vol. 11(2), pages 121-35, April.
  2. Geweke, John, 1986. "Exact Inference in the Inequality Constrained Normal Linear Regression Model," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 1(2), pages 127-41, April. [Downloadable!] (restricted)
  3. Chatfield, Chris, 1993. "Calculating Interval Forecasts: Reply," Journal of Business & Economic Statistics, American Statistical Association, vol. 11(2), pages 143-44, April.
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. William Griffiths, 2002. "A Gibbs’ Sampler for the Parameters of a Truncated Multivariate Normal Distribution," Department of Economics - Working Papers Series 856, The University of Melbourne. [Downloadable!]
  2. Griffiths, W.E., 2001. "Bayesian Inference in the Seemingly Unrelated Regressions Models," Department of Economics - Working Papers Series 793, The University of Melbourne. [Downloadable!]
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This page was last updated on 2009-11-3.


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