An Open Econometric Model of the Canadian Beef Cattle Sector
1972
Kulshreshtha, S. N. | Wilson, A. G.
Limited information is available concerning the relationships existing among demand, supply, and price within the Canadian beef cattle sector. Since the sector is very dependent on exports to the U.S.A., an open econometric model is developed to estimate the simultaneous relationships prevailing among the demand, supply and price, and export variables. The two‐stage least squares procedure is adopted to obtain a solution. It was estimated that by 1975 both Canadian domestic demand for beef and farm prices of beef will increase, but exports of live cattle will decline. The model also revealed that the price and production levels of feed grains are important factors in accommodating the expansion of demand.
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