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Nonrobustness of Dynamic Dual Models of the Northeastern and U.S. Dairy Industries

Published online by Cambridge University Press:  10 May 2017

Alfons Weersink
Alfons Weersink*
Affiliation:
Department of Agricultural Economics and Business, University of Guelph
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Abstract

The robustness of dynamic dual models examined by Howard and Shumway is reevaluated with the proper specification for the modified generalized Leontief (GL) and normalized quadratic (NQ) functional forms. In an application to the Northeastern and U.S. dairy industries, the theoretical properties, adjustment rates, and predictive ability were similar under both functional forms. However, elasticity measures differed significantly.

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Type
Articles
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Northeastern Journal of Agricultural and Resource Economics , Volume 19 , Issue 1 , April 1990 , pp. 12 - 16
Copyright
Copyright © 1990 Northeastern Agricultural and Resource Economics Association 

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Footnotes

The helpful comments of Spiro E. Stefanou and an anonymous reviewer are gratefully acknowledged.

References

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