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Supply Response In The Australian Extensive Livestock And Cropping Industries: A Study Of Intentions And Expectations

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  • Fisher, Brian S.
  • Munro, Robyn G.

Abstract

Most of the supply elasticity estimates reported for Australian agriculture are derived from equations estimated using time series data and incorporating ad hoc assumptions about price expectations. The authors' aim is to compare previously obtained supply elasticity estimates with those derived using theoretically more acceptable survey data on both producers' intentions and price expectations. Surveys were conducted in three regions in N.S.W., namely, the Southern Tablelands, the South-West Slopes and a portion of the Western Division centred on Cobar . The results of the research show that there are no major differences between the supply elasticities derived using the traditional time series approach and those obtained using the survey data. This finding is reassuring, given the cost of collecting survey data.

Suggested Citation

  • Fisher, Brian S. & Munro, Robyn G., 1983. "Supply Response In The Australian Extensive Livestock And Cropping Industries: A Study Of Intentions And Expectations," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 27(1), pages 1-11, April.
    • Handle: RePEc:ags:ajaeau:22821
    DOI: 10.22004/ag.econ.22821
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    References listed on IDEAS

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    1. Powell, Alan A. & Gruen, Fred H.G., 1967. "The Estimation Of Production Frontiers: The Australian Livestock/Cereals Complex," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 11(1), pages 1-19, June.
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    5. Freebairn, John W., 1973. "Some Estimates of Supply and Inventory Response Functions for the Cattle and Sheep Sector of New South Wales," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 41(02-3), pages 1-38, June.
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    8. Reynolds, R.G. & Gardiner, B., 1980. "Supply Response In The Australian Sheep Industry: A Case For Disaggregation And Dynamics," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 24(3), pages 1-14, December.
    9. Jean-Paul Chavas, 1982. "On the Use of Price Ratio in Aggregate Supply Response: Some Evidence from the Poultry Industry," Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 30(3), pages 345-358, November.
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    11. Brian S. Fisher, 1975. "Supply Response In The Wheat‐Belt Of South‐Eastern Australia: The Impact Of Delivery Quotas On Wheat Plantings," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 19(2), pages 81-93, August.
    12. Fisher, Brian S., 1975. "Supply Response In The Wheat-Belt Of South-Eastern Australia: The Impact Of Delivery Quotas On Wheat Plantings," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 19(2), pages 1-13, August.
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    Cited by:

    1. Kingwell, Ross S., 1995. "Effects of Tactical Responses and Risk Aversion on Farm Wheat Supply," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 62(01), pages 1-14, April.
    2. Zhao, Xueyan & Mullen, John D. & Griffith, Garry R. & Griffiths, William E. & Piggott, Roley R., 2000. "An Equilibrium Displacement Model of the Australian Beef Industry," Research Reports 28007, New South Wales Department of Primary Industries Research Economists.
    3. Adams, Philip D., 1988. "Some Comparisons of Recent Estimates of Agricultural Supply Elasticities for the Australian Economy," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 56(03), pages 1-9, December.
    4. Griffiths, William & Thomson, Graeme & Coelli, Tim, 1995. "Predicting Output From Seemingly Unrelated Area And Yield Equations," 1995 Conference (39th), February 14-16, 1995, Perth, Australia 170821, Australian Agricultural and Resource Economics Society.
    5. Gunathilaka, Rajapaksha P. D. & Smart, James C. R. & Fleming, Christopher M. & Hasan, Syezlin, 2018. "The impact of climate change on labour demand in the plantation sector: the case of tea production in Sri Lanka," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 62(3), July.
    6. Rajapaksha P. D. Gunathilaka & James C. R. Smart & Christopher M. Fleming & Syezlin Hasan, 2018. "The impact of climate change on labour demand in the plantation sector: the case of tea production in Sri Lanka," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 62(3), pages 480-500, July.
    7. Fisher, Brian S. & Wall, Charles A., 1990. "Supply Response In The Australian Sheep Industry: A Profit Function Approach," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 34(2), pages 1-20, August.
    8. Fisher, Brian S., 1985. "Frontiers in Agricultural Policy Research," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 53(02), pages 1-11, August.

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