Updating and recalibrating equilibrium displacement models of the Australian livestock industries: pig meat
Garry Griffith, Yue Zhang, Stuart Mounter
Australasian Agribusiness Review | University of New England | Published : 2018
In this paper, we report on a recent update of an equilibrium displacement model of the Australian pig meat industry. New price and quantity data for the period 2012-2016 are described and compared to values used in two previous versions of the model. Elasticity parameters are kept the same. Then two hypothetical simulations are run, one for a farm productivity improvement and one for a consumer demand expansion, and the results of these simulations are reported and compared with identical simulations previously reported for the earlier versions of the model.