ESTIMATION OF A U.S. DAIRY SECTOR MODEL BY MAXIMUM SIMULATED LIKELIHOOD

This paper estimates a multivariate tobit system of monthly wholesale dairy prices where 4 prices are lower censored by the dairy price support program. Using Maximum Simulated Likelihood (MSL) we test/correct for the effects of simulation noise and present two tests for estimating multivariate versus the singel tobit equations.

MoreLess

Year of publication:	1998
Authors:	Arias, Carlos ; Cox, Thomas L.
Institutions:	Agricultural and Applied Economics Association - AAEA
Subject:	Demand and Price Analysis \| Research Methods/ Statistical Methods

More details

Extent:	application/pdf
Series:	1998 Annual meeting, August 2-5, Salt Lake City, UT.
Type of publication:	Book / Working Paper
Notes:	The text is part of a series 1998 Annual meeting, August 2-5, Salt Lake City, UT Number 20804
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005807323