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

Sammanfattning

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.

Nyckelord

cross entropy estimator; Markov chain; pork industry; Denmark

Publicerad i

Journal of Econometrics
2002, volym: 107, nummer: 1-2, artikelnummer: PII S0304-4076(01)00124-5

SLU författare

• Karantininis, Konstantinos

  • Kongelige Veterinær- og Landbohøjskole

UKÄ forskningsämne

Nationalekonomi

Publikationens identifierare

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

Permanent länk till denna sida (URI)

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