Publisher's Synopsis
Excerpt from World Rice Study: Disappearance, Production, and Price Relationships Used to Develop the Model
Black market rates quoted in Pick's Currency Yearbook were used to convert all price and income data to current u.s. Dollar values. All rice quantities are expressed as milled rice equivalents. Metric units were used for area, yield, production, trade, and disappearance data. Disappearance is defined as production minus exports plus imports and stock changes (when stock data were available).
The estimated equations attempt to explain production, disappear ance, and price relationships with available data. For some countries, data limitations necessitated using proxy variables which resulted in equations that are not structural and making subjective estimates for some coefficients. For most countries, the production and disappearance equations were estimated from aggregate data. For some countries, how ever, subaggregate data were available, and subaggregate equations were estimated. They were added to form the aggregate equation needed for the model, but the subaggregate equations are also presented for the interested reader. The equations are linear because of the linear assumption of the model. However, on some exogenous variables, quad ratic terms are used. These were collapsed with the intercept by the computer before entering the linear programming algorithm. Identities and restraints are included with each set of country equations to make that set comparable to the model. Market clearing equations that allow trade flows in the model are not presented here. A description of these transfer functions will be included in the report on the*user's manual.
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