STRUCTURAL CHANGE IN U.S. CHEESE MANUFACTURING: A TRANSLOG COST ANALYSIS OF A PANEL OF CHEESE PLANTS
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Over the last 20 years the cheese manufacturing sector has become the most important market for U.S. farm milk. Using a plant-level dataset encompassing the 1972-1997 period we examine the production characteristics of this industry. Using the results obtained from our cost function we estimate a series of measures of input substitutability and scale economies.