Factors Affecting U.S. Farmer’s Expenditures on Farm Machinery 1960-2010
AbstractMechanization and technological advancement has been the cornerstone of agricultural prosperity in the United States and has served as a flagship to the rest of the world. Farm machinery and equipment sales for the three largest manufactures in 2011 reached nearly $60 billion and higher sales are projected for the future. Many factors have been attributed to this increase in sales including high commodity prices, low interest rates, and favorable government policies toward agricultural producers. This study will seek to model producer production expenses on farm machinery and equipment and decipher which factors are significant for explaining demand for farm machinery.
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Bibliographic InfoPaper provided by Southern Agricultural Economics Association in its series 2013 Annual Meeting, February 2-5, 2013, Orlando, Florida with number 142547.
Date of creation: 2013
Date of revision:
Farm machinery; depreciation; crop insurance; farm expenditures; Agribusiness; Farm Management; Production Economics;
This paper has been announced in the following NEP Reports:
- NEP-AGR-2013-02-16 (Agricultural Economics)
- NEP-ALL-2013-02-16 (All new papers)
- NEP-HME-2013-02-16 (Heterodox Microeconomics)
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