A Test Of Asset Fixity In Southeastern U.S. Agriculture
AbstractA test for static equilibrium developed by Schankerman and Nadiri is used to evaluate the hypothesis that land and capital in aggregate southeastern U.S. agriculture behave as fixed inputs. Empirical results reject the hypothesis that these two inputs are at their long-run equilibrium levels implied by observed prices. Thus, some degree of asset fixity may be concluded.
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Bibliographic InfoArticle provided by Southern Agricultural Economics Association in its journal Southern Journal of Agricultural Economics.
Volume (Year): 22 (1990)
Issue (Month): 01 (July)
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- Kulatilaka, Nalin, 1985. "Tests on the validity of static equilibrium models," Journal of Econometrics, Elsevier, vol. 28(2), pages 253-268, May.
- Conrad, Klaus & Unger, Ralph, 1987. "Ex post tests for short-and long-run optimization," Journal of Econometrics, Elsevier, vol. 36(3), pages 339-358, November.
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- Taylor, Timothy G. & Monson, Michael J., 1985. "Dynamic Factor Demands for Aggregate Southeastern United States Agriculture," Southern Journal of Agricultural Economics, Southern Agricultural Economics Association, vol. 17(02), December.
- Diewert, W. E., 1976. "Exact and superlative index numbers," Journal of Econometrics, Elsevier, vol. 4(2), pages 115-145, May.
- Schankerman, Mark & Nadiri, M. Ishaq, 1986. "A test of static equilibrium models and rates of return to quasi-fixed factors, with an application to the Bell system," Journal of Econometrics, Elsevier, vol. 33(1-2), pages 97-118.
- Heberling, Matthew T. & García, Jorge H. & Thurston, Hale W., 2010. "Does encouraging the use of wetlands in water quality trading programs make economic sense?," Ecological Economics, Elsevier, vol. 69(10), pages 1988-1994, August.
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