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a3_t
2012 Mar 22
1
Simalteneous Equation Doubt in R
Hi List
l am interested in developing price model. I have found a research paper
related to price model of corn in US market where it has taken demand &
supply forces into consideration. Following are the equation:
Supply equation:
St= a0+a1Pt-1+a2Rt-1+a3St-1+a5D1+a6D2+a7D3+U1 -(1)
Where D1,D2,D3=Quarterly Dummy Variables(Since quarterly data are
considered)
Here, Supply equation has 1 endogenous (St) & 6 exogenous variables (P
t-1,Rt-1,St-1,D1,D2,D3)
Demand Side:
Demand of corn is divided into 3 equations:
Feed equation:
Ft=...