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Dynamic Factor Demands for Aggregate Southeastern United States Agriculture

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  • Taylor, Timothy G.
  • Monson, Michael J.

Abstract

A four equation input demand system for aggregate Southeastern United States agriculture consistent with dynamic optimizing behavior is specified and estimated. Labor and materials are considered as variable inputs while land and capital are treated as quasi-fixed inputs. It is found that the adjustment rates for capital and land differ considerably and are interdependent. Further, the data appear consistent with the existence of an aggregate production technology and the hypothesized optimizing behavior.

Suggested Citation

  • Taylor, Timothy G. & Monson, Michael J., 1985. "Dynamic Factor Demands for Aggregate Southeastern United States Agriculture," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 17(2), pages 1-10, December.
    • Handle: RePEc:cup:jagaec:v:17:y:1985:i:02:p:1-10_02
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    Cited by:

    1. Agbola, Frank W., 2005. "Optimal intertemporal investment in Australian agriculture: An empirical investigation," Agricultural Economics Review, Greek Association of Agricultural Economists, vol. 6(2), pages 1-11.
    2. Buhr, Brian L. & Kim, Hanho, 1997. "Dynamic adjustment in the US beef market with imports," Agricultural Economics, Blackwell, vol. 17(1), pages 21-34, October.
    3. Eswaramoorthy, K., 1991. "U.S. livestock production and factor demand: a multiproduct dynamic dual approach," ISU General Staff Papers 1991010108000010523, Iowa State University, Department of Economics.
    4. Paris, Quirino & Caputo, Michael R., 1995. "The Rhetoric Of Duality," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 20(1), pages 1-20, July.
    5. Frank W. Agbola & Stephen R. Harrison, 2005. "Empirical investigation of investment behaviour in Australia's pastoral region," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 49(1), pages 47-62, March.
    6. Anthony N. Rezitis & William E. Foster & A. Blake Brown, 1999. "A Cost Function Approach to Dynamic Duality: An Application to the US Cigarette Manufacturing Industry," Journal of Agricultural Economics, Wiley Blackwell, vol. 50(1), pages 106-123, January.
    7. Alejandro Onofri & Lilyan Fulginiti, 2008. "Public inputs and dynamic producer behavior: endogenous growth in U.S. agriculture," Journal of Productivity Analysis, Springer, vol. 30(1), pages 13-28, August.
    8. Stefanou, Spiro E., 2009. "A Dynamic Characterization of Efficiency," Agricultural Economics Review, Greek Association of Agricultural Economists, vol. 10(1), pages 1-16.
    9. Mundlak, Yair, 1999. "Production and Supply (Revised)," Working Papers 232819, Hebrew University of Jerusalem, Center for Agricultural Economic Research.
    10. Lin, Ni & Shumway, C. Richard, 2000. "Asset Fixity In U.S. Agriculture: Robustness To Functional Form," Ag Econ Series 12967, Washington State University, School of Economic Sciences.
    11. Pietola, Kyosti S. & Myers, Robert J., 1997. "Investment Under Uncertainty and Dynamic Adjustment in the Finnish Pork Industry," Staff Paper Series 201221, Michigan State University, Department of Agricultural, Food, and Resource Economics.
    12. Boonyanam, Nararuk, 2020. "Agricultural economic zones in Thailand," Land Use Policy, Elsevier, vol. 99(C).
    13. Howard, Wayne H. & Shumway, C. Richard, 1989. "Nonrobustness Of Dynamic Dual Models Of The U.S. Dairy Industry," Northeastern Journal of Agricultural and Resource Economics, Northeastern Agricultural and Resource Economics Association, vol. 18(1), pages 1-8, April.
    14. Taylor, Timothy G. & Kalaitzandonakes, Nicholas G., 1990. "A Test Of Asset Fixity In Southeastern U.S. Agriculture," Southern Journal of Agricultural Economics, Southern Agricultural Economics Association, vol. 22(1), pages 1-7, July.
    15. Aradhyula, Satheesh Venkata, 1989. "Policy structure, output supply and input demand for US crops," ISU General Staff Papers 198901010800009909, Iowa State University, Department of Economics.
    16. Shumway, C. Richard, 1995. "Recent Duality Contributions In Production Economics," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 20(1), pages 1-17, July.
    17. 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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