An Econometric Model for United States Agriculture

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Abstract
Economists and agricultural economists have done parallel research in estimating quantitative economic relations for various economic sectors. This study is an attempt to bring together the agricultural and non-agricultural sectors by grafting onto a master model of the total economy a set of estimated relationships for the agricultural sector. In this way it is possible to trace the effects of changes in the non-agricultural economy through the agricultural sector and in turn to make some estimates of the contribution of agriculture to the total. In estimating supply, demand and price relationships within agriculture twelve product categories are examined. This permits the results to be applied as forecasting devices for disaggregated commodity groups within agriculture. The results are not as gratifying as one would wish and consequently many of the relationships are being re-examined and re-estimated.

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