Computing Farm Level General Equilibrium Demand Elasticities for Agricultural Commodities

Computing Farm Level General Equilibrium Demand Elasticities for Agricultural Commodities
Author: Thomas Warren Hertel
Publisher:
Total Pages: 101
Release: 1989*
Genre: Agricultural prices
ISBN:

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The policy relevance of farm level demand elasticities; Methodology; Specification of the general equilibrium model; Estimation of a consumer demand system; Estimation of an aggregate, Agricultura cost function; Farm level demand elasticities; Summary and conclusions.

International model for policy analysis of agricultural commodities and trade-standard IFPRI multimarket model (IMPACT-SIMM): Technical description for version 1

International model for policy analysis of agricultural commodities and trade-standard IFPRI multimarket model (IMPACT-SIMM): Technical description for version 1
Author: Robinson, Sherman
Publisher: Intl Food Policy Res Inst
Total Pages: 40
Release: 2021-12-31
Genre: Political Science
ISBN:

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The International Food Policy Research Institute’s International Model for Policy Analysis of Agricultural Commodities and Trade (IMPACT) supports analysis of long-term challenges and opportunities for food, agriculture, and natural resources at global and regional scales. IMPACT is continually being updated and improved to better inform the choices that decisionmakers face today. This document describes a new country-level version of the model. IMPACT-SIMM (International Model for Policy Analysis of Agricultural Commodities and Trade–Standard IFPRI Multimarket Model) is a partial equilibrium, multi-market, simulation model of the production, supply, and demand of agricultural commodities within a country or group of countries. It simulates the operation of agricultural markets, solving for equilibrium prices within a country and, in multi-country mode, global markets. It is designed to be a “portable” and potentially open-source version of the IFPRI (International Food Policy Research Institute) IMPACT3 model documented in Robinson et al. (2015). IMPACT-SIMM shares model specification, equations, and computer code with IMPACT3, but is designed to be more flexible in application. It allows users to specify a standard multi-market model at any level of aggregation by commodities and countries by changing data inputs, without any change in model code. This model system supports longer-term scenario analysis to provide researchers and policymakers with a flexible tool to assess and compare the potential effects of changes in biophysical systems, socioeconomic trends, technologies, and policies at the level of individual countries or groups of countries.

On the Estimation of Supply and Demand Elasticities of Agricultural Commodites

On the Estimation of Supply and Demand Elasticities of Agricultural Commodites
Author: Santeramo, Fabio Gaetano
Publisher: Intl Food Policy Res Inst
Total Pages: 29
Release:
Genre: Social Science
ISBN:

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This AGRODEP Technical Note provides a literature review on the topic of estimation of demand and supply elasticities. To this end, it starts the discussion by summarizing the main facets of production theory and consumer theory to introduce the concept of elasticities, with examples of di fferent types of elasticities most utilized in the literature. Next, it discusses the identi fication problem in estimating elasticities, i.e. the issue of having to solve for unique values of the parameters of the structural model from the values of the parameters of the reduced form of the model. It summarizes various methodologies employed in the literature to solve this problem and gives practical examples. These solutions include, but are not limited to, using instrumental variables, adopting a recursive structure, holding demand constant, and imposing inequality constraints in order to restrict the domain of estimates.

Handbook of Agricultural Economics

Handbook of Agricultural Economics
Author: Bruce L. Gardner
Publisher: Elsevier
Total Pages: 548
Release: 2001
Genre: Business & Economics
ISBN: 9780444510808

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Annotation The subject matter of agricultural economics has both broadened and deepened in recent years, and the chapters of this Handbook present the most exciting and innovative work being done today. Following Volume 1, Volume 2 consists of three parts: 'Agriculture, Natural Resources and the Environment', 'Agriculture in the Macroeconomy' and 'Agriculture and Food Policy'. Although agricultural economists have always paid attention to these topics, research devoted to them has increased substantially in scope as well as depth in recent years.