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Add to Calendar 2017-05-12 16:00 2017-05-12 17:30 Africa/Casablanca Bayesian Estimation of the Storage Model using Information on Quantities OCP Policy Center, Rabat In this presentation, Mr. Christophe Gouel will discuss his paper entitled “Bayesian Estimation of the Storage Model using Information on Quantities”. This paper presents a new strategy to estimate the rational expectations storage model. It uses information on prices and quantities – consumption and production – in contrast to previous approaches which use only prices.... OCP Policy Center, Rabat OCP Policy Center contact@ocppc.ma false YYYY-MM-DD
May 12, 2017 More

Bayesian Estimation of the Storage Model using Information on Quantities

OCP Policy Center, Rabat

In this presentation, Mr. Christophe Gouel will discuss his paper entitled “Bayesian Estimation of the Storage Model using Information on Quantities”. This paper presents a new strategy to estimate the rational expectations storage model. It uses information on prices and quantities – consumption and production – in contrast to previous approaches which use only prices. This additional information allows to estimate a model with elastic supply, and to identify parameters such as supply and demand elasticities, which are left unidentified when using prices alone. The estimation relies on the Bayesian methods popularized in the literature on the estimation of DSGE models. It is carried out on a market representing the caloric aggregate of the four basic staples – maize, rice, soybeans, and wheat – from 1961 to 2006. The results show that to be consistent with the observed volatility of consumption, production, and price, elasticities have to be in the lower ranges of the elasticities in the literature, a result consistent, according to the authors, with recent instrumental variable estimations on the same sample.

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Add to Calendar 2017-05-08 09:00 2017-05-12 17:00 Africa/Casablanca Advanced Training in Commodity Economics & Finance | Agricultural Economics & Environment - Government Policies, Food Security and International Commodity markets OCP Policy Center, Rabat. This course proposes an analysis of agricultural and food policies with an emphasis on price volatility and governments› responses to it. This course is organized as a series of lectures of 1.5 to 3 hours and alternates between lectures on the economics of public policies and on case studies of actual policies. The goal is to explain the reasons of public interventions (... OCP Policy Center, Rabat OCP Policy Center contact@ocppc.ma false YYYY-MM-DD
May 08, 2017 to May 12, 2017 More

Advanced Training in Commodity Economics & Finance | Agricultural Economics & Environment - Government Policies, Food Security and International Commodity markets

OCP Policy Center, Rabat.

This course proposes an analysis of agricultural and food policies with an emphasis on price volatility and governments› responses to it. This course is organized as a series of lectures of 1.5 to 3 hours and alternates between lectures on the economics of public policies and on case studies of actual policies. The goal is to explain the reasons of public interventions (arising from economic motivations and political economy), and to use economic theory to explain and predict the effects of public policies.

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