Information-based estimators for the non-stationary transition probability matrix: an application to the Danish pork industry

Karantininis, K

doi:10.1016/S0304-4076(01)00124-5

Abstract

A generalised cross entropy instrumental variables estimator is used to recover the non-stationary transition probability matrix for the Danish pork industry. A technique is also developed to recover missing data points due to category re-specifications. The impact of a set of exogenous variables (prices of pork meat, inputs, and pork substitutes), are evaluated in the form of elasticities. An overall assessment of entry exit and growth of farms is performed. (C) 2002 Elsevier Science B.V. All rights reserved.

Keywords

cross entropy estimator; Markov chain; pork industry; Denmark

Published in

Journal of Econometrics
2002, volume: 107, number: 1-2, article number: PII S0304-4076(01)00124-5

SLU Authors

Karantininis, Konstantinos
- Royal Veterinary and Agricultural University

UKÄ Subject classification

Economics

Publication identifier

DOI: https://doi.org/10.1016/S0304-4076(01)00124-5

Permanent link to this page (URI)

https://res.slu.se/id/publ/100270