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Some Comparisons of Recent Estimates of Agricultural Supply Elasticities for the Australian Economy

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  • Adams, Philip D.

Abstract

An accurate knowledge of the supply responsiveness of agricultural exporting industries is crucial if sensible judgements are to be made about diverse policy initiatives, including initiatives having no obvious connection with agriculture. In this paper we compare some recent estimates of short-run supply elasticities for agricultural commodities in the Australian economy. Our attention is focussed particularly on the different types of production technologies and econometric methods used to derive values for these elasticities.

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Bibliographic Info

Article provided by Australian Agricultural and Resource Economics Society in its journal Review of Marketing and Agricultural Economics.

Volume (Year): 56 (1988)
Issue (Month): 03 (December)
Pages:

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Handle: RePEc:ags:remaae:12276

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Keywords: Demand and Price Analysis;

References

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  1. Hall, Nigel H. & Fraser, L. & Purtill, A., 1988. "Supply Response in Broadacre Agriculture," 1988 Conference (32nd), February 8-11, 1988, Melbourne, Australia 144033, Australian Agricultural and Resource Economics Society.
  2. McKay, Lloyd & Lawrence, Denis & Vlastuin, Chris, 1983. "Profit, Output Supply, and Input Demand Functions for Multiproduct Firms: The Case of Australian Agriculture," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 24(2), pages 323-39, June.
  3. Peter B. Dixon & David P. Vincent & Alan A. Powell, 1976. "Factor Demand and Product Supply Relations in Australian Agriculture : The CRESH/CRETH Production System," Centre of Policy Studies/IMPACT Centre Working Papers op-08, Victoria University, Centre of Policy Studies/IMPACT Centre.
  4. Vincent, David P & Dixon, Peter B & Powell, Alan A, 1980. "The Estimation of Supply Response in Australian Agrucilture: The CRESH/CRETH Production System," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 21(1), pages 221-42, February.
  5. Wall, Charles A. & Fisher, Brian S., 1988. "Supply Response and the Theory of Production and Profit Functions," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 56(03), December.
  6. Adams, Philip D., 1987. "Agricultural Supply Response in ORANI," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 55(03), December.
  7. Watts, Geof & Quiggin, John C., 1984. "A Note on the Use of a Logarithmic Time Trend," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 52(02), August.
  8. Randal R. Rucker & Oscar R. Burt & Jeffrey T. LaFrance, 1984. "An Econometric Model of Cattle Inventories," Development Research Unit Working Paper Series archive-25, Monash University, Department of Economics.
  9. 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(01), April.
  10. Byron, R P, 1970. "The Restricted Aitken Estimation of Sets of Demand Relations," Econometrica, Econometric Society, vol. 38(6), pages 816-30, November.
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Citations

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Cited by:
  1. Culas, Richard J., 2011. "Area response in wheat production: The Australian wheat-sheep zone," AFBM Journal, Australasian Farm Business Management Network, vol. 8(1).
  2. Kingwell, Ross, 1996. "Programming models of farm supply response: The impact of specification errors," Agricultural Systems, Elsevier, vol. 50(3), pages 307-324.
  3. Kingwell, Ross S., 1994. "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), April.
  4. Agbola, Frank W., 1999. "The Structure of Production and Investment in Australia's Pastoral Zone," 1999 Conference (43th), January 20-22, 1999, Christchurch, New Zealand 122327, Australian Agricultural and Resource Economics Society.

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