A Linked Model for Wheat, Feed Grain, and Livestock Sectors of the U.S.

Excerpts: The Forecast Support Unit must analyze economic questions from the perspective of their cross-commodity interactions. As part of this process, econometric models for a number of commodity subsectors have been specified and estimated. Up to this time the cross-commodity analysis has largely been achieved by iterating between the separate models using their impact multipliers. The major focus of this research effort has been to link the individual models into a simultaneous framework that solves wheat, feed grains, livestock, cotton, and soybeans. While soybeans and cotton have not been incorporated in this version, provisions have been made to do so as this research become available. The current report contains a list of the structural equations and variable names for the model and a set of key impact multipliers for selected exogenous variables in the system