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A Comparison Of Simulation And Analytical Methods: A Case Study Of The Effects Of Decoupling On The U.S. Rice Industry

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  • Willett, Lois Schertz
  • Watanabe, Satoko

Abstract

The specification of a dynamic national rice industry model is presented. Model coefficients using two stage least squares and model validation statistics are presented. Short run and long run elasticities are compared with other studies. Simulation and analytical methods, for testing convergence and evaluating long run values, are compared. Differences, and their implications, with regard to the effects of decoupling policies are analyzed.

Suggested Citation

  • Willett, Lois Schertz & Watanabe, Satoko, 1991. "A Comparison Of Simulation And Analytical Methods: A Case Study Of The Effects Of Decoupling On The U.S. Rice Industry," 1991 Annual Meeting, August 4-7, Manhattan, Kansas 271171, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    • Handle: RePEc:ags:aaea91:271171
    DOI: 10.22004/ag.econ.271171
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    References listed on IDEAS

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    1. B. Wade Brorsen & Jean-Paul Chavas & Warren R. Grant, 1987. "A Market Equilibrium Analysis of the Impact of Risk on the U.S. Rice Industry," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 69(4), pages 733-739.
    2. Kost, William E., 1980. "Model Validation And The Net Trade Model," Journal of Agricultural Economics Research, United States Department of Agriculture, Economic Research Service, vol. 32(2), pages 1-16, April.
    3. Shlomo Reutlinger, 1966. "Analysis of a Dynamic Model, with Particular Emphasis on Long-Run Projections," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 48(1), pages 88-106.
    4. J. P. Houck & M. E. Ryan, 1972. "Supply Analysis for Corn in the United States: The Impact of Changing Government Programs," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 54(2), pages 184-191.
    5. Childs, Nathan W. & Lin, William, 1989. "Rice: Background for 1990 Farm Legislation," Staff Reports 278848, United States Department of Agriculture, Economic Research Service.
    6. Houck, James P. & Ryan, Mary E., 1972. "Supply Analysis For Corn In The United States: The Impact Of Changing Government Programs," Staff Papers 13554, University of Minnesota, Department of Applied Economics.
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