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Box-Cox Estimation of U.S. Soybean Exports

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  • Davison, Cecil W.
  • Arnade, Carlos Anthony
  • Hallahan, Charles B.

Abstract

US soybean exports to seven major markets are estimated with linear, log-linear, and Box-Cox specifications. Estimates from the three approaches are compared to address these issues regarding the agricultural trade literature functional form selection, longrun price elasticity estimates, and validation of models beyond the sample data. Functional form appreciably affected forecasts outside the sample and the price and income elasticity estimates, which range from elastic to inelastic across markets. This multiple-policymakers and exporters tailor export marketing strategies to fit specific markets.

Suggested Citation

  • Davison, Cecil W. & Arnade, Carlos Anthony & Hallahan, Charles B., 1989. "Box-Cox Estimation of U.S. Soybean Exports," Journal of Agricultural Economics Research, United States Department of Agriculture, Economic Research Service, vol. 41(3), pages 1-9.
    • Handle: RePEc:ags:uersja:138787
    DOI: 10.22004/ag.econ.138787
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    References listed on IDEAS

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    1. Wayne H. Howard & C. Richard Shumway, 1988. "Dynamic Adjustment in the U.S. Dairy Industry," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 70(4), pages 837-847.
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    Crop Production/Industries;

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