Dynamic input demand functions and resource adjustment for US agriculture: state evidence
| dc.creator | Warjiyo, Perry | |
| dc.creator | Huffman, Wallace E. | |
| dc.date | 2017-04-01T19:42:00Z | |
| dc.date.accessioned | 2026-07-09T08:10:40Z | |
| dc.description | The paper presents an econometric model of dynamic agricultural input demand functions that include research based technical change and autoregressive disturbances and fits the model to annual data for a set of state aggregates pooled over 1950-1982. The methodological approach is one of developing a theoretical foundation for a dynamic input demand system and accepting state aggreage behavior as approximated by nonlinear adjustment costs and long-term profit maximization. Although other studies have largely ignored autocorrelation in dynamic input demand systems, the results show shorter adjustment lags with autocorrelation than without. Dynamic input demand own-price elasticities for the six input groups are inelastic, and the demand functions possess significant cross-price and research effects. | |
| dc.identifier | doi:10.22004/ag.econ.174316 | |
| dc.identifier | https://ageconsearch.umn.edu/record/174316/files/agec1997v017i002-003a010.pdf | |
| dc.identifier | http://ageconsearch.umn.edu/record/174316 | |
| dc.identifier.uri | http://hdl.handle.net/123456789/596364 | |
| dc.language | eng | |
| dc.publisher | ||
| dc.source | http://ageconsearch.umn.edu/record/174316 | |
| dc.title | Dynamic input demand functions and resource adjustment for US agriculture: state evidence | |
| dc.type | Text |