An Econometric Analysis of Acreage Allocation to U. S. Feed and Food Grains

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英文文献：An Econometric Analysis of Acreage Allocation to U. S. Feed and Food Grains
英文文献作者：Shrestha, Chandra M.,Debertin, David L.
英文文献摘要：
This paper analyzes the allocation of acreage to six Feed and Food grains in the U. S. A general theory of acreage allocation is developed. The simultaneity or jointness in the allocation of acreage to competing crops is addressed. A theoretically correct and technically feasible three-stage least squares method is used to estimate a system of six simultaneous acreage allocation equations. The estimated structural parameters, impact multipliers and interim multipliers all suggest that government policy variables play dominant roles in acreage allocation equations. In addition, simple lagged product prices are found to effectively serve as the expected prices in directing acreage allocation to the crops studied.

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