A Dynamic Price-Output Model of the Beef and Pork Sectors

A price-output model of' the beef' and pork s.Jctors of' the livestock meat economy has been success~~ly constructed and its ability to reproduce price and output decisions validated on the basis of' quarterly data of' the 1955 70 period.By altering its structure, the model may be used in either of' two ways: l) to project prices and outputs to :future periods, and 2) to simulate the results of' the imposition of' policy constraints over either the historical or projection period.The model portrays economic activity satisf'actorily, providing the quarterly data of' the historical period are reproduced with acceptable accuracy.