Estimation of a US dairy sector model by maximum simulated likelihood

This paper estimates a multivariate Tobit system of monthly wholesale dairy prices where four prices are lower censored by the dairy price support programme. Using Maximum Simulated Likelihood (MSL) the effects of simulation noise are tested/corrected for and the relevance of estimating multivariate versus the single Tobit equations discussed.

MoreLess

Year of publication:	2001
Authors:	Arias, Carlos ; Cox, Thomas
Published in:	Applied Economics. - Taylor & Francis Journals, ISSN 0003-6846. - Vol. 33.2001, 9, p. 1201-1211
Publisher:	Taylor & Francis Journals

More details

Extent:	text/html
Type of publication:	Article
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10009209968