Economic Modeling Of The Mineral Sector With Reference To Commodity Agreements.

This paper examines the contribution which econometric methods may be expected to make to the specification of commodity agreements, and how in turn computer methods may help in this. Starting from the specification of a model, the paper examines four activities: estimation of the unknown parameters; analysis of the properties of the model; simulation experiments with the model; and control of the model. In each of these activities the basic methodology is outlined, and the contribution of computer methods assessed.