Structural change in the u.s. soybean and soybean products Markets:a systematic varying coefficient Simultaneous system approach
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Date
1985
Journal Title
Journal ISSN
Volume Title
Publisher
Abstract
The soybean industry is an interesting area for investiga-
It is extremely complex and has been changing rather
t ion.
dramatically over the last 10 to 15 years.
There exists a high
degree of interaction among the markets for soybeans,
oil and soybean meal.
soybean
Recent shocks and changes in the world
economic environment have impacted substantially on the industry
altering the demand for its products and even changing the
participants and their roles in the marketplace.
Understanding the behavior of the soybean industry is
important to market participants,
alike.
producers and consumers
Changes in market structure can influence demand and
supply conditions,
price movements and can cause rather consid-
erable changes in farmer income and the prices that consumers
pay for related final products.
Under these circumstances,
the
value of accurate forecasting of prices and quantities increases
in importance.
ters (e.g.
Also,
knowledge of changing structural parameĀ
elasticities)
can be crucial to government decisionĀ
makers in analyzing the effects of alternative farm policies.
The general thrust of this thesis involves the econometric
modeling of structural change in the U.S.
products markets.
soybean and soybean
A quarterly econometric model is specifiedV
within the framework of a systematic varying coefficients
simultaneous system.
Changing parameters will be identified and
an examination of the forecasting performance of the model will
be made.
Description
PhD Thesis
Keywords
Structural change, Markets, Soybean, soybean products