Stationarity Assumptions and Technical Change in Supply Response Analysis
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Proper stationarity assumptions (trend stationarity or difference stationarity)are important for modeling agricultural supply response in the context of time series analysis Test reults show that the assumption of trend stationarity should be a tested rather than a maintained hypothesis We discuss implications of model misspeceification in the interpretation of trend line regression coefficients as a proxy for technical change The analysis suggests a more careful consideration of stationarity assumptions when this method is employed in the future