Econometrics of market and non-market goods
This dissertation illustrates how different econometric methods can be applied to market and non-market goods. The first essay focuses on forecasting cheddar cheese prices by utilizing time series models from the simplest model autoregressive order 2 AR (2) model, to more complex models such as second order vector autoregressive (VAR(2)) or second order vector error correction models (VECM(2)). One-to twelve month ahead forecast horizons for cheddar cheese levels and difference models were calculated for each forecasting methods for the out of sample time period of January 1990 to December 2013. ...
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