Publisher's Synopsis
Excerpt from Agricultural Economics Research, Vol. 26: January 1974
Price eligibility. This concept plays an important role in the model. Its introduction in the model rests on the implied program objectives of price stabilization and enhancement and their relationship to surplus removal. The presumption is that a direct relationship exists between a surplus condition for a commodity and the degree to which its price is depressed. The extent to which a given price is depressed is determined by comparing the forecast farm price to a moving average price for that commodity, where the length of the moving average varies from 3 to 5 years depending on the commodity. Specifically, the relationship in the model is.
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