Agricultural Supply Response in ORANI
AbstractIn the ORANI general equilibrium model, the supply behaviour of agricultural industries is the crucial element shaping the response of agriculture as a whole to any exogenous shock. In this paper, elasticity formulae which measure agricultural supply behaviour in the model are derived. These elasticities are found to be very sensitive to year-on year changes in the level of agricultural profitability, embodied within the model's data base. The appropriate procedure, therefore, is to construct a synthetic data set designed to capture the agricultural sector in a recent average year. Supply elasticities based upon these data represent the "preferred" estimates of this study.
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Bibliographic InfoArticle provided by Australian Agricultural and Resource Economics Society in its journal Review of Marketing and Agricultural Economics.
Volume (Year): 55 (1987)
Issue (Month): 03 (December)
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