SHORT- AND LONG-RUN DEMAND AND SUBSTITUTION OF AGRICULTURAL INPUTS
| dc.creator | Fernandez-Cornejo, Jorge | |
| dc.date | 2017-04-01T20:03:37Z | |
| dc.date.accessioned | 2026-07-09T04:02:56Z | |
| dc.description | Short- and long-run Hicksian and Marshallian elasticities are estimated, along with Morishima elasticities of substitution, using a restricted profit function and a series of decomposition equations. Convexity in prices and concavity in quasi-fixed factors of the restricted profit function are simultaneously imposed using Bayesian techniques. The empirical model is disaggregated in the input side, utilizes a Fuss-quadratic flexible functional form, incorporates the impact of agricultural policies, and introduces a new weather index. The methodology is applied to Illinois's agriculture, and implications for agriculture in the Corn Belt and the Northeast are briefly discussed. | |
| dc.identifier | doi:10.22004/ag.econ.28848 | |
| dc.identifier | https://ageconsearch.umn.edu/record/28848/files/21010036.pdf | |
| dc.identifier | http://ageconsearch.umn.edu/record/28848 | |
| dc.identifier.uri | http://hdl.handle.net/123456789/544022 | |
| dc.language | eng | |
| dc.publisher | ||
| dc.source | http://ageconsearch.umn.edu/record/28848 | |
| dc.title | SHORT- AND LONG-RUN DEMAND AND SUBSTITUTION OF AGRICULTURAL INPUTS | |
| dc.type | Text |