AN ECONOMETRIC-MODEL OF THE UNITED-STATES BEEKEEPING INDUSTRY

This paper presents a dynamic econometric model of the U.S. beekeeping industry for policy analysis and economic projections. Data from 1952 to 1984 were used to estimate the model by three-stage least squares. The model indicates that, when the federal price support for honey exceeded the market price, the federal program had a significant impact on several sectors of the industry. A comparison of beekeeper revenue, consumer expenditures, and federal government expenditures suggests the honey support program was an ineffective means of supporting honey prices from 1982 through 1984.