Monthly vector autoregressions of corn, farm broiler, and retail broiler prices were estimated for 1956:1-1968:12 (early period) and 1973:1-1985:11 (recent period), and then validated 36 months beyond each sample. Statistically significant evidence suggests that the dynamic manner in which corn...

A monthly vector autoregression model of lumber, lumber futures, construction materials, housing, and shelter prices was shocked with a 10% lumber price increase, and dynamic responses were examined. Futures and materials price increases were immediate and endured 1 and 3 years, respectively....

This article summarizes the 1994 US|Canadian wheat dispute, and critically compares the analyses of the USDA and Canadian Wheat Board (CWB), with the analysis done by the staff of the US International Trade Commission (USITC staff). The USDA and CWB studies are shown to have primarily relied on...

A monthly vector autoregression (VAR) model of the following prices was estimated over the 1962:1-1990:6 period: crude oil price (CRUDE), industrial chemical price (INDCHEM), agricultural chemical price (AGCHEM), and fertilizer price (FERT). The VAR was shocked with a rise in CRUDE, and dynamic...

This article offers a comparison of short-term forecasting ability of five demand systems with an application to U.S. meat consumption. Four static demand systems (AIDS, Rotterdam, AIM, and DGM) and a dynamic Vector Error Correction Model (VECM) are considered. We tested the equality of mean...