Hostname: page-component-cd9895bd7-hc48f Total loading time: 0 Render date: 2024-12-29T05:27:51.840Z Has data issue: false hasContentIssue false
  • English
  • Français

Supply Growth and Dairy Industry Deregulation

Published online by Cambridge University Press:  10 May 2017

Ching-Cheng Chang  and
Spiro E. Stefanou
Ching-Cheng Chang
Affiliation:
The Pennsylvania State University
Spiro E. Stefanou
Affiliation:
The Pennsylvania State University
Get access

Abstract

Optimal control models of aggregate milk supply and demand behavior are used to describe the optimal phasing of the deregulatory dairy price support in the presence of supply growth. Producers are assumed to face costs of adjustment, and are myopic with respect to price expectations and the adoption of the new quasi-fixed factor augmenting technology.

Type
Research Article
Information
Northeastern Journal of Agricultural and Resource Economics , Volume 16 , Issue 1 , April 1987 , pp. 1 - 9
Copyright
Copyright © 1987 Northeastern Agricultural and Resource Economics Association 

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)

Footnotes

Senior authorship is not assigned. The helpful comments of Shih-Hsun Hsu and the editor are appreciated. This research was supported by USDA/NRED cooperative research agreement no. 58-3J23-2. Journal Series Article No. 7575 of the Pennsylvania Agricultural Experiment Station.

References

Boehm, W. T. “The Household Demand for Fluid Milk in the United States with Regional Consumption Projection through 1990.” Research Division Bulletin No. 120, Virginia Polytechnic Institute and State University, 1976.Google Scholar
Berck, P. and Perloff, J. “Marketing Orders and Welfare.” American Journal of Agricultural Economics 67 (1985): 487–496.Google Scholar
Buxton, B. M. “Welfare Implications of Alternative Classified Pricing Policies for Milk.” American Journal of Agricultural Economics 59 (1977): 525–529.Google Scholar
Clemout, S. and Wan, H. Y. “Interactive Economic Games and Differential Games.” Journal of Optimization Theory and Applications 27 (1979): 7–30.Google Scholar
Clark, C. W. Mathematical Bioeconomics. New York: John Wiley and Sons, 1976.Google Scholar
Dahlgran, R. S. “Welfare Costs and Interregional Income Transfers Due to Regulation of Dairy Markets.” American Journal of Agricultural Economics 62 (1980): 288–296.Google Scholar
Epstein, L. G. and Denny, M. S. G. “The Multivariate Flexible Accelerator Model: Its Empirical Implications and an Application to U.S. Manufacturing.” Econometrica 51 (1983): 647–674.Google Scholar
Gardner, B. L. “Price Discrimination or Price Stabilization: Debating with Models of U.S. Dairy Policy.” American Journal of Agricultural Economics 66 (1984): 763–768.Google Scholar
George, P. S. and King, G. A. Consumer Demand for Food Commodities in the United States with Projections for 1980. Giannini Foundation Monograph No. 26, Division of Agricultural Sciences, University of California, 1971.Google Scholar
Gould, J. P. “Adjustment Costs in the Theory of Investment of the Firm.” Review of Economic Studies 35 (1968): 47–55.Google Scholar
Hallberg, M. C. “Cyclical Instability in the U.S. Dairy Industry Without Government Regulations.” Agricultural Economics Research 34 (1982): 1–11.Google Scholar
Hallberg, M. C. and Parsons, R. “Who Will Gain and Who Will Lose from Production Technologies in the Dairy Industry.” Agricultural Economics and Rural Sociology Staff Paper No. 104, Department of Agricultural Economics and Rural Sociology, Pennsylvania State University, 1986.Google Scholar
Hallberg, M. C. et al. “Impact of Alternative Federal Milk Marketing Order Pricing Policies on the United States Dairy Industry.” Agricultural Experiment Station Bulletin No. 818, Pennsylvania State University, 1978.Google Scholar
Hammond, J. W. and Brooks, K. “Federal Price Programs for the American Dairy Industry—Issues and Alternatives.” Department of Agricultural and Applied Economics, University of Minnesota, FAC Report No. 4, NPA Report No. 214, 1985.Google Scholar
Ippolito, R. A. and Masson, R. T. “The Social Cost of Government Regulation of Milk.” Journal of Law and Economics 21 (1978): 33–65.Google Scholar
Just, R. E., Hueth, D. L., and Schmitz, A. Applied Welfare Economics and Public Policy. Englewood Cliffs, N.J.: Prentice-Hall, 1982.Google Scholar
Karp, L. “Dynamic Games in International Trade.” Unpublished dissertation, Department of Agricultural Economics, University of California, Davis, 1982.Google Scholar
Karp, L. and McCalla, A. F. “Dynamic Games and International Trade: An Application to the World Com Market.” American Journal of Agricultural Economics 65 (1983): 641–650.Google Scholar
LaFrance, J. and DeGorter, H. “Regulation in a Dynamic Market: The U.S. Dairy Industry.” American Journal of Agricultural Economics 67 (1985): 821–832.Google Scholar
Magrath, W. B. and Tauer, L. W. “The Economic Impact of bGH on the New York State Dairy Sector: Comparative State Results.” Northeastern Journal of Agricultural and Resource Economics 15 (1986): 6–13.Google Scholar
Pindyck, R. S. “The Optimal Phasing of Phased Deregulation.” Journal of Economic Dynamics and Control 5 (1982): 281–294.Google Scholar
Pindyck, R. S. and Rotemberg, J. J. “Dynamic Factor Demands and the Effects of Energy Price Shocks.” American Economic Review 73 (1983): 1066–1079.Google Scholar
Thraen, C. S. and Hammond, J. W. “Price Supports, Risk Aversion and U.S. Dairy Policy: An Alternative Perspective of the Long-Term Impacts.” Department of Agricultural and Applied Economics, ER83-9, University of Minnesota, 1983.Google Scholar
USDA, Dairy Outlook and Situation Report, Economic Research Service, Washington, DC, December 1985.Google Scholar
Westcott, P. C. A Quarterly Model of the U.S. Dairy Sector and Some of its Policy Implications. Technical Bulletin No. 1717, Economic Research Service, USDA, 1986.Google Scholar
Wibe, S. “A Model for Bounded Technological Progress.” Economic Modelling 3 (1986): 81–85.Google Scholar