Farm-Level Microsimulation Modelling by Cathal O’Donoghue

Author:Cathal O’Donoghue
Language: eng
Format: epub
Publisher: Springer International Publishing, Cham

7.3 Methodology

The objective of this paper is to simulate the impact of exogenous shocks either in price or volume on the income of farms. We firstly need to estimate a set of equations that describes the system outlined in Sect. 7.2. The approach taken here is a simulation approach rather than an optimisation approach, taking estimates based on historical data and simulating changes. Overall, we are interested in understanding the process that generates the distribution of farm income.

Income Generation Models

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