The functional form used to represent expenditures or consumption as a function of income and household size (Engel relationship) dramatically affects estimates of elasticities of these variables. This impact also holds true when the elasticities are computed at the mean of the sample used. When...

This article describes the structure and dynamic properties of the Food and Agricultural Policy Simulator (FAPSIM), an annual econometric model of the US agricultural sector F APSIM estimates a simultaneous price-quantity equilibrium solution for a set of individual commodity models developed...

This article presents the structure, parameters, and validation statistics for the dairy-sector sub-model contained in the U S Department of Agriculture's (USDA's) Food and Agricultural Policy Simulator (FAPSIM) This submodel endogenously estimates dairy cow numbers, milk production farm-level...