Summary: Agricultural Prices and Commodity Market Analysis discusses the application of economic theory to agriculture and the food industry using quantitative tools. The blend of theory and application is unique in detailing how demand and supply can be measured and how econometric simulation models can be constructed and evaluated. This revised edition focuses on forecasting and generating long-term projections as well as discussing the relatively unexplored areas of stochastic modeling whi
ch is critical in handling crop yield variability. Other topics covered include agricultural policy analysis and futures/options markets. The role of time series models in improving structural equations and forecasting techniques provides a capstone.
Summary: Agricultural Prices and Commodity Market Analysis discusses the application of economic theory to agriculture and the food industry using quantitative tools. The blend of theory and application is unique in detailing how demand and supply can be measured and how econometric simulation models can be constructed and evaluated. This revised edition focuses on forecasting and generating long-term projections as well as discussing the relatively unexplored areas of stochastic modeling which is critical in handling crop yield variability. Other topics covered include agricultural policy analysis and futures/options markets. The role of time series models in improving structural equations and forecasting techniques provides a capstone. ...show less
Edition/Copyright:05 Cover: Hardcover Publisher:Michigan State University Press Published: 07/28/2005 International: No
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John N. (Jake) Ferris is a professor emeritus in the Department of Agricultural Economics at Michigan State University.
''A great deal can be learned from this interesting and important addition to the available price analysis textbooks. The book provides a great degree of value added to the reader with previous knowledge of economic theory and introductory econometrics. The direct compact writing style and fascinating institutional details are the book's greatest assets. The mechanics of conducting price analysis in agricultural and food markets are presented as a 'how-to' manual or 'cookbook' approach. Exposure to the application of quantitative methods to commodity markets is appropriate for beginning analysis by reading this clear and interesting book.''
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