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New Zealand Beef And Sheep Supply Relationships

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  • Rich, M.M.

Abstract

The primary purposes of this study are to measure major relationships describing the responses of different components of sheep and beef farming capital stock in New Zealand to changes in economic conditions, and to investigate the way in which this capital stock has changed over time. These objectives are pursued by attempting to specify an econometric model that recognises joint production between sheep and beef cattle and also takes account of joint firm/household decision making. Aggregate New Zealand data for the period 1952/53 to 1973/74 are fitted to the model using Full Information Maximum Likelihood estimation.

Suggested Citation

  • Rich, M.M., 1979. "New Zealand Beef And Sheep Supply Relationships," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 23(2), pages 1-14, August.
    • Handle: RePEc:ags:ajaeau:22805
    DOI: 10.22004/ag.econ.22805
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    References listed on IDEAS

    as
    1. Hendry, D F, 1971. "Maximum Likelihood Estimation of Systems of Simultaneous Regression Equations with Errors Generated by a Vector Autoregressive Process," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 12(2), pages 257-272, June.
    2. Rayner, A.C., 1968. "A Model Of The New Zealand Sheep Industry," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 12(1), pages 1-15, June.
    3. B. H. Court, 1967. "Supply Response of New Zealand Sheep Farmers," The Economic Record, The Economic Society of Australia, vol. 43(2), pages 289-302, June.
    4. McLaren, Keith R, 1979. "A Dynamic Model of a Joint Firm-Household," Australian Economic Papers, Wiley Blackwell, vol. 18(33), pages 294-307, December.
    5. A.C. Rayner, 1968. "A Model Of The New Zealand Sheep Industry," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 12(1), pages 1-15, June.
    Full references (including those not matched with items on IDEAS)

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    Keywords

    Livestock Production/Industries;

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