Lyric discussion by Luthander 

I think there's obviously a lot of dylanesque lyrics in this song, especially from his John Wesley Harding album released the year before and I would assume it is done knowingly. But whether done as a spoof or a tribute or just a joke I don't know, but I think it is all in good fun as such amazing musicians probably had a great deal of respect for eachother.

There is a pretty good read on the subject here: morethings.com/music/beatles/rockyraccoon.html

it also mentions simon/garfunkels dylan parody "A Simple Desultory Philippic"

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