CAPTIVE SUPPLY IMPACT ON THE U.S. FED CATTLE PRICE: AN APPLICATION OF NONPARAMETRIC ANALYSIS

영문 제목
CAPTIVE SUPPLY IMPACT ON THE U.S. FED CATTLE PRICE: AN APPLICATION OF NONPARAMETRIC ANALYSIS
저자
Andrew C. Lee
출판년도
2011-10-21
초록
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.
목차
I. IntroductionII. Conceptual ModelIII. Nonparametric RegressionIV. Data and EstimationV. Results and Discussion
서지인용
page. 103 - 115
발행처
한국농촌경제연구원
주제어
captive supply; Kernel regression; JEL Classifications: C19; Q13; captive supply; Kernel regression; JEL Classifications: C19; Q13
발간물 유형
KREI 논문
URI
http://repository.krei.re.kr/handle/2018.oak/19719
Appears in Collections:
학술지 논문 > 농촌경제 / JRD
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