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A Dynamic Model of the U.S. Tobacco Economy

Author

Listed:
  • Mann, Jitendar S.

Abstract

A 14 equation recursive model is developed for (1) flue-cured acreage, (2) burley acreage, (3) flue-cured price, (4) burley price, and (5) consumer demand for cigarettes. The coefficients are estimated using data for 1954-70. The reduced form and the impact multipliers are derived. The multipliers are used to illustrate the impact of a 3.5-cent increase in the support rate for flue-cured tobacco. A comparison of the reduced-form estimated values with observed values of 14 endogenous variables showed a good fit for the model over the period studied.

Suggested Citation

  • Mann, Jitendar S., 1973. "A Dynamic Model of the U.S. Tobacco Economy," Journal of Agricultural Economics Research, United States Department of Agriculture, Economic Research Service, vol. 25(3), pages 1-12, July.
    • Handle: RePEc:ags:uersja:147151
    DOI: 10.22004/ag.econ.147151
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