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Application of the Least Absolute Value Technique as a Data Filter for Detecting Structural Change in the Demand for Meat
Published online by Cambridge University Press: 10 May 2017
Extract
In agricultural commodity modeling, the time period since 1973 has presented estimation problems due to sudden large increases in product and input prices. Among factors contributing to these price increases are the 1973 oil embargo, grain trade with the Soviet Union and decreased yields for some crops due to severe weather conditions. The presence of such extreme values (i.e., large price increases) can obviously affect modeling results when deriving such relationships as supply equations or demand equations.
- Type
- Articles
- Information
- Journal of the Northeastern Agricultural Economics Council , Volume 13 , Issue 1 , April 1984 , pp. 7 - 11
- Copyright
- Copyright © Northeastern Agricultural and Resource Economics Association
Footnotes
Research funding was provided by Hatch Project 231. This article is a contribution of the Nevada Agricultural Experiment Station, Journal Series No. 622.