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Apple Price and Production Forecasts for Maine and the United States

Published online by Cambridge University Press:  10 May 2017

Russell A. Hayward ,
George K. Criner  and
Steven P. Skinner
Russell A. Hayward
Affiliation:
Agricultural and Resource Economics, University of Maine, Orono
George K. Criner
Affiliation:
Agricultural and Resource Economics, University of Maine, Orono
Steven P. Skinner
Affiliation:
Agricultural and Resource Economics, University of Maine, Orono
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Abstract

An econometric model of U.S. and Maine apple production and prices was estimated with ordinary least squares multiple regression. A Gauss-Seidel solution technique was used to examine the equation system goodness of fit and to forecast endogenous variable values. Results indicate that supply expansion in the U.S. and Maine will continue, but Maine's slower rate of increase will erode its market share. Apple prices for the U.S. and Maine are predicted to decline in real terms by the year 2000 if inflation rates exceed 3 percent annually during the period 1982 to 2000.

Type
Articles
Information
Northeastern Journal of Agricultural and Resource Economics , Volume 13 , Issue 2 , October 1984 , pp. 268 - 276
Copyright
Copyright © 1984 Northeastern Agricultural and Resource Economics Association 

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References

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