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Agricultural Supply Response in the Argentinean Economy

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  • Alberto Herrou-Aragón

    (Consultor Internacional)

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    Abstract

    This paper estimates a reduced-form agricultural supply function for the Argentinean economy within the framework of a general equilibrium model. The results of the estimation using data covering the years 1939-1984 show that there is a statistically significant long-run supply price elasticity of agricultural output of about 1.3, and that the convergence to an equilibrium state is achieved in about nine years. The estimated agricultural supply price elasticity is found to be about three times larger than previous estimates using partial equilibrium models.

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    File URL: http://www.depeco.econo.unlp.edu.ar/economica/ing/resumen-articulo.php?param=3¶m2=6
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    Bibliographic Info

    Article provided by Departamento de Economía, Facultad de Ciencias Económicas, Universidad Nacional de La Plata in its journal Económica.

    Volume (Year): LIII (2007)
    Issue (Month): 1-2 (January-December)
    Pages: 73-100

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    Handle: RePEc:lap:journl:556

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    Related research

    Keywords: General equilibrium; Minkowski matrix; cointegration analysis; Bartlett correction factor; eigenvalue stability tests;

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