Investment and supply response in the New Zealand pastoral sector : an econometric model

Abstract

This report provides a description of version three of an econometric model of the pastoral livestock sector of the New Zealand economy. Version three should be viewed as a further development of the preliminary model described by Laing and Zwart (1981) published as AERU Discussion Paper No.54 and Version two described by Laing (1982) published as AERU Research Report No.127. The present report refines many of the relationships reported in Version two and extends the model further to include domestic consumption and stocks, allowing identities generating the volume and value of pastoral exports to be calculated.