A Critique Of The Constant Elasticity Of Transformation (Cet) Linear Supply System
AbstractAn elusive restriction maintained in earlier CET supply models with three or more products is shown to result in a potentially serious misspecification. Its impact on empirical estimates is found to be substantial, and an alternative formulation is presented which overcomes the problem while still maintaining the CET hypothesis.
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Bibliographic InfoArticle provided by Western Agricultural Economics Association in its journal Western Journal of Agricultural Economics.
Volume (Year): 09 (1984)
Issue (Month): 02 (December)
Research Methods/ Statistical Methods;
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- 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.
- Scobie, Grant M & Johnson, Paul R, 1974. "Protection and Exchange Rate: An Analysis of the New Zealand Foreign Exchange Market," The Economic Record, The Economic Society of Australia, vol. 50(132), pages 534-54, December.
- Houck, James P. & Ryan, Mary E., 1972. "Supply Analysis For Corn In The United States: The Impact Of Changing Government Programs," Staff Papers 13554, University of Minnesota, Department of Applied Economics.
- Shumway, C. Richard, 1986. "Supply Relationships In The South - What Have We Learned?," Southern Journal of Agricultural Economics, Southern Agricultural Economics Association, vol. 18(01), July.
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