PMP and Uniqueness of Calibrating Solution: Output Supply and Input Demand Elasticities Small Farms
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The paper demonstrates the existence of a unique solution of the PMP problem when
both quantities and prices are taken as calibrating benchmarks. Furthermore, the paper shows how to obtain a distribution of output supply and input demand elasticities that match available information about them in the form of previously estimated parameters for an entire region or sector. The framework is applied to a sample of small farms.