Effects of government programs to raise milk prices: Academic economists and public policy

Article Abstract:

Academic economists play an important role in public policy, which has varying impact on the Northeast Dairy Compact. Two approaches to applied policy analysis, 'counterfactual' analysis and 'before and after' analysis, are examined and according to Cotterill analysis, the Compact benefited farmers in the Northeast, cost farmers in the rest of the US, and cost fluid milk buyers in the Northeast.

Legal issues & crime, Government regulation (cont), Government regulation, Legal/Government Regulation, Laws, regulations and rules

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Constrained price, address, or logit brand demand models: An econometric comparison in the Boston fluid milk market

Article Abstract:

An empirical study estimates a general linear demand model for three fluid milk brands and finds perverse signs and complementarity among these substitutes. Results demonstrate that estimated price-reaction functions and the corresponding total elasticities, which capture only strategic non-collusive interaction in the Nash Bertrand models, provide insight into competition among brands.

Market information - general, Models, Supply and demand

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Asymmetric response of retail milk prices in the Northeast revisited

Article Abstract:

The impact of farm price changes on the retail milk prices are analyzed for Boston, Massachusetts and Hartford, Connecticut. The results show that transmission rates are greater for the Compact period than the pre-Compact period and it also finds evidence for long-run asymmetry.

Dairy Farms, Dairy Cattle and Milk Production, Dairy farming

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