Crop Supply Response under Risk: Impacts of Emerging Issues on Southeastern U.S. Agriculture
AbstractIn this paper we consider factors that affect both crop prices and yields in order to examine supply responses of major crops in the Southeast. Due to the variable nature of crop production in the Southeast, previous studies that ignore price and yield risk may fail to capture one of the salient features of the regionâ€™s agriculture. Our results indicate supply elasticity values for corn, cotton, and soybeans of approximately 0.670, 0.506, and 0.195, respectively. Compared with the results of studies in other regions, corn and cotton acres respond more to price changes and soybean acres respond less to price changes.
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Bibliographic InfoArticle provided by Southern Agricultural Economics Association in its journal Journal of Agricultural and Applied Economics.
Volume (Year): 43 (2011)
Issue (Month): 02 (May)
acreage supply; crop supply response model; risk analysis; Southeast U.S. agriculture; Crop Production/Industries; Production Economics; Q12; Q13; Q16;
Find related papers by JEL classification:
- Q12 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Micro Analysis of Farm Firms, Farm Households, and Farm Input Markets
- Q13 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Agricultural Markets and Marketing; Cooperatives; Agribusiness
- Q16 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - R&D; Agricultural Technology; Biofuels; Agricultural Extension Services
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