EMPIRICAL ANALYSIS OF AGRICULTURAL COMMODITY PRICES: A VIEWPOINT
Tomek, William G.; Myers, Robert J.
Numerous models of price-demand-supply behavior in agricultural markets have been proposed and estimated. The literature contains valuable contributions, but the cumulative effect is somewhat disappointing. This paper appraises the status of the price analysis literature and makes suggestions for improving the quality of empirical results. Both structural and time-series models are appraised.
WP 1993-01 January 1993
Charles H. Dyson School of Applied Economics and Management, Cornell University