AN ECONOMETRIC-SIMULATION THE ESTIMATED EFFECT OF THE 1981-82 T FLORIDA FREEZE ON THE CITRUS INDUSTRY

Agricultural production processes are influenced by many factors such as technological changes, weather patterns, .disease, pests, etc. The overall economic implications of these factors are often difficult to estimate due to many interrelationships. Some of the direct effects of these factors often can be estimated reasonably well. New technology could include higher yielding crop varieties, new and improved inputs and machiner. These new technologies have been crucial in expanding the U.S. and world food and fiber output. However, there can also be a 'reverse' technology such as banning the use of specific pesticides or chemicals used in agricultural production. For example, a ban on pesticide used in agricultural production usually decreases the yield and/or increases the production cost.