Price equilibrium or price disequilibrium in the corn sector
1979
Baumes, H.S. Jr | Womack, A.W.
Extract: The objective of this paper is to compare two alternative model structures as they relate to agricultural crops, and the implications of the two structures as they relate to policy analysis. The corn sector is used as an example. For this case, the flexible accelerator model is assumed an appropriate specification of commercial grain reserves and, therefore, provides a reasonable test for the correctness of a price equilibrium or price disequilibrium statement of market activity in an annual framework.
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