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| Author: | Diebold, F. X. Lamb, R. L. |
| Title: | Why are estimates of agricultural supply response so variable? |
| Journal: | Journal of Econometrics
1997 : JAN/FEB, VOL. 76:1/2, p. 77-105 |
| Index terms: | ESTIMATION BAYESIAN STATISTICS AGRICULTURE SUPPLY RESPONSE RATE |
| Language: | eng |
| Abstract: | For economists and policy makers, accurate assessment of agricultural supply response is the key issue, but supply-response estimates display large variation across regions, crops, and time periods. In this paper, one suspect is identified, the commonly-used economic estimator, which has infinite moments of all orders in small samples. An alternative and simple minimum-expected-loss estimator is proposed, and it's superior sampling properties are evaluated. |
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