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Empirical investigation of investment behaviour in Australia's pastoral region

  • Agbola, Frank W.
  • Harrison, Stephen R.
Registered author(s):

    Optimal intertemporal investment behaviour ofAustralian pastoralists is modelled using panel data for the period 1979–1993.Results indicate that quasi-fixity of inputs of labour, capital, sheep numbers and cattle numbers is characteristic of production in the pastoral region. It takes about two years for labour, four years for capital and a little over two years for both sheep numbers and cattle numbers to adjust towards long-run optimal levels. Results also indicate that, after accounting for adjustment costs, own-price product supply and input demand responses are inelastic in both the short and long run.

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    File URL: http://purl.umn.edu/118436
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    Article provided by Australian Agricultural and Resource Economics Society in its journal Australian Journal of Agricultural and Resource Economics.

    Volume (Year): 49 (2005)
    Issue (Month): 1 (March)
    Pages:

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    Handle: RePEc:ags:aareaj:118436
    Contact details of provider: Postal: AARES Central Office Manager, Crawford School of Public Policy, ANU, Canberra ACT 0200
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