The name is absent



Table 1. SUR Estimation Results for U.S. Soybean Export Equations, 1963-86a

VariabIesZdata

EC-9

Japan

Spain

Taiwan

South
Korea

Rest of
Worldb

Constant

2,391,000

435,600

1,676,000

751,000

38,670

-2,479,000

(1.22)

(∙58)

(2.96)"

(2.10)*

(■49)

(-3.17)"

Real U.S. soybean

-5,469

-3,045

-1,918

-877.6

-1,462

2,452

price, Rotterdamc

(-∙98)

(-2.42)*

(-■95)

(-1.48)

(-2.52)∙

(1.23)

Real U.S. soybean meal 4,258

3,522

287.3

304.5

889.3

-2,659

price, Rotterdamc

(■89)

(3.02)"

(.17)

(■52)

(1.95)*

(-1∙56)

Pork production in

1.042

2.338

.786

1.807

1.967

.949

importing country0

(5.52)”

(7.37)"

(3.35)"

(13.73)"

(7.99)"

(9.03)"

Real exchange rate

-37,080

981.6

-8,710

-4,180

564.2

23,290

index

(-3.66)"

(∙30)

(-2.71)"

(-3.04)"

(■56)

(4.29)

R2

.71

.92

.54

.95

.76

.78

Durbin-Watson

2.01

2.00

1.71

2.22

1.76

1.84

Fβ

366"

684"

- 341"

759"

348"

354”

, t-values in parentheses. Significance levels (one-tailed test with 19 degrees of freedom, two-tailed test for constant): ’ = 5 percent, " = 1
percent.

b Mexico, Portugal, Israel, Switzerland, Canada, Norway, Greece, Indonesia, and Egypt.

° Jan.-Dec. average, dollars per metric ton, deflated by U.S. CPI.

° Metrictons.

β Test of significance of model (unrestricted SUR estimation compared with restriction of estimators = Oin each equation in turn).

Table 2. OLS and 2SLS Estimation Results3

Estimator

VanabIesZdata

OLS        ...........

— 2SLS system..............

Dependent variable

U.S. soybean
exports
to worldb

Real U.S.
soybean
price

Real U.S.
soybean
meal price

U.S. soybean
exports
to worldb

Constant

6,324,000

(1.44)

111.4

(1.78)

155.6

(2.50)*

9,609,000
(1∙54)

U.S. soybean exports
to worldb

-.0000019

(-■76)

-.0000016

(-■56)

Real U.S. soybean
price, Rotterdamd

-13,950
(-1.51)

.6846

(4.03)"

-4,127c
(-■56)

Real U.S. soybean meal
price, Rotterdamd

7,015
(■92)

.4308

(2.17)*

-23,360 °
(-1.17)

Pork production in
importing countryθ

1.193

(5.82)"

1.157

(5.04)"

Real exchange rate
index

-64,630

(-2.60)"

-60,430

(-2-19)∙

R2

.87

.39

.11

Durbin-Watson

2.06

Ff

30"

5.82"

1.67

Degrees of freedom

19

22

22

19

a t-values in parentheses. Significance levels (two-tailed test on constants and instrument equations, one-tailed test on other variables): ' =
5 percent, ** = 1 percent. In the price (instrument) equations, the dependent variable is lagged 1 year on the right-hand side.

b Nineteen countries listed in Appendix.

c Estimate of parameter on instrumental variable.

a Jan.-Dec. average, dollars per metric ton, deflated by U.S. CPI.

β Metrictons.

1 Test of significance of model [R2∕no. of variables]∕[(1 - R2)∕(no. of observations - no. of variables)].

133



More intriguing information

1. Large-N and Large-T Properties of Panel Data Estimators and the Hausman Test
2. A novel selective 11b-hydroxysteroid dehydrogenase type 1 inhibitor prevents human adipogenesis
3. Exchange Rate Uncertainty and Trade Growth - A Comparison of Linear and Nonlinear (Forecasting) Models
4. The Employment Impact of Differences in Dmand and Production
5. LAND-USE EVALUATION OF KOCAELI UNIVERSITY MAIN CAMPUS AREA
6. The name is absent
7. The name is absent
8. Linking Indigenous Social Capital to a Global Economy
9. I nnovative Surgical Technique in the Management of Vallecular Cyst
10. Wirtschaftslage und Reformprozesse in Estland, Lettland, und Litauen: Bericht 2001
11. Indirect Effects of Pesticide Regulation and the Food Quality Protection Act
12. Effort and Performance in Public-Policy Contests
13. Word searches: on the use of verbal and non-verbal resources during classroom talk
14. The name is absent
15. The name is absent
16. The migration of unskilled youth: Is there any wage gain?
17. The name is absent
18. Migration and employment status during the turbulent nineties in Sweden
19. The Response of Ethiopian Grain Markets to Liberalization
20. Industrial Employment Growth in Spanish Regions - the Role Played by Size, Innovation, and Spatial Aspects