Andrew C. Lee 2018-11-15T09:39:05Z 2018-11-15T09:39:05Z 2011-10-21 RE34-4-06 http://repository.krei.re.kr/handle/2018.oak/19719 Conventional regression technique is restrictive because it assumes a specific functional form for the model and the constancy of parameters. Nonparametric method, however, is flexible and supplementary to parametric analysis. In this study, impact of captive supply on the U.S. fed cattle cash market price is investigated via nonparametric analysis. Results indicate that the price effect of captive supply does not appear until its share reaches about 20% of the total cattle procurement. Beyond this point, the U.S. fed cattle price decreases approximately $0.20/cwt ~ $0.40/cwt for each percent increase in the captive supply share. Conventional regression technique is restrictive because it assumes a specific functional form for the model and the constancy of parameters. Nonparametric method, however, is flexible and supplementary to parametric analysis. In this study, impact of captive supply on the U.S. fed cattle cash market price is investigated via nonparametric analysis. Results indicate that the price effect of captive supply does not appear until its share reaches about 20% of the total cattle procurement. Beyond this point, the U.S. fed cattle price decreases approximately $0.20/cwt ~ $0.40/cwt for each percent increase in the captive supply share. I. Introduction II. Conceptual Model III. Nonparametric Regression IV. Data and Estimation V. Results and Discussion 한국농촌경제연구원 CAPTIVE SUPPLY IMPACT ON THE U.S. FED CATTLE PRICE: AN APPLICATION OF NONPARAMETRIC ANALYSIS CAPTIVE SUPPLY IMPACT ON THE U.S. FED CATTLE PRICE: AN APPLICATION OF NONPARAMETRIC ANALYSIS KREI 논문 115 103 Andrew C. Lee Kim, Mankeun page. 103 - 115 captive supply Kernel regression JEL Classifications: C19 Q13 captive supply Kernel regression JEL Classifications: C19 Q13