How Sensitive Are Crop Yields To Price Changes And Farm Programs?
AbstractA two-stage approach is used to estimate sensitivity of corn, wheat, and soybean yields to changes in prices and land idled. Estimated elasticity of demand for fertilizer per acre with respect to expected output price equals 0.47, 0.10, and 0.82 for corn, wheat, and soybeans. Upper estimates of the elasticity of yield with respect to fertilizer equals +0.58, +0.29, and +0.16 for corn, wheat, and soybeans. Yields are found to be quite insensitive to price changes. Fertilizer demands and yields are insensitive to land idled under farm programs.
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Bibliographic InfoArticle provided by Southern Agricultural Economics Association in its journal Journal of Agricultural and Applied Economics.
Volume (Year): 25 (1993)
Issue (Month): 01 (July)
Corn; Farm programs; Fertilizer demands; Soybeans; Wheat; Yields; Agricultural and Food Policy; Demand and Price Analysis;
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