IDEAS home Printed from https://ideas.repec.org/a/ags/ajaeau/22333.html
   My bibliography  Save this article

Textile Fibre Substitution And Relative Prices

Author

Listed:
  • Minford, Patrick

Abstract

The elasticity of substitution between textile fibres is investigated within a CES production function in which the fibres are grouped according to degree of substitutability. Disaggregated data for U.S. textile usage in the post-war period are examined and the elasticities estimated are generally above unity. The conclusion is reached that, while technical change and diffusion may have explained changing fibre shares in certain, usually specialized end-uses and contributed to the explanation in others, in most end-uses relative price change has been an important factor.

Suggested Citation

  • Minford, Patrick, 1975. "Textile Fibre Substitution And Relative Prices," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 19(3), pages 1-22, December.
    • Handle: RePEc:ags:ajaeau:22333
    DOI: 10.22004/ag.econ.22333
    as

    Download full text from publisher

    File URL: https://ageconsearch.umn.edu/record/22333/files/19030175.pdf
    Download Restriction: no
    File URL: https://libkey.io/10.22004/ag.econ.22333?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    Other versions of this item:

    References listed on IDEAS

    as
    1. Alan A. Powell & Metodey Polasek & Harry T. Burley, 1963. "Synthetic Fibres In The Wool Textile Industrya Study Of The Role Of Price In Technological Adjustment," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 7(2), pages 107-120, December.
    2. Blackorby, Charles, et al, 1970. "Homothetic Separability and Consumer Budgeting," Econometrica, Econometric Society, vol. 38(3), pages 468-472, May.
    3. Metodey Polasek & Alan A. Powell, 1964. "WOOL AND SYNTHETICS: A Statistical Analysis of Fibre Substitution in the U.S," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 8(1), pages 11-27, June.
    4. M. Polasek, 1965. "Synthetic Fibres And Australia'S Economic Future," The Economic Record, The Economic Society of Australia, vol. 41(93), pages 23-37, March.
    5. K. Sato, 1967. "A Two-Level Constant-Elasticity-of-Substitution Production Function," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 34(2), pages 201-218.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. D. J. Carland & A. R. Pagan, 1979. "A Short‐Run Econometric Model of the Japanese Wool Textile Industry," The Economic Record, The Economic Society of Australia, vol. 55(4), pages 317-327, December.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Frédéric Reynès, 2011. "The cobb-douglas function as an approximation of other functions," SciencePo Working papers Main hal-01069515, HAL.
    2. Edgar Cruz & Xavier Raurich, 2020. "Leisure time and the sectoral composition of employment," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 38, pages 198-219, October.
    3. Go, Delfin S. & Kearney, Marna & Robinson, Sherman & Thierfelder, Karen, 2004. "An Analysis of South Africa's Value Added Tax," Conference papers 331274, Purdue University, Center for Global Trade Analysis, Global Trade Analysis Project.
    4. Ezra Oberfield & Devesh Raval, 2021. "Micro Data and Macro Technology," Econometrica, Econometric Society, vol. 89(2), pages 703-732, March.
    5. Yazid Dissou & Lilia Karnizova & Qian Sun, 2015. "Industry-level Econometric Estimates of Energy-Capital-Labor Substitution with a Nested CES Production Function," Atlantic Economic Journal, Springer;International Atlantic Economic Society, vol. 43(1), pages 107-121, March.
    6. Crown, Robert Walter, 1972. "A model of income distribution by size-class with application to the results of technical change," ISU General Staff Papers 197201010800005727, Iowa State University, Department of Economics.
    7. Arthur Kraft, 1973. "Preference Orderings As Determinants Of The Labor Force Behavior Of Married Women," Economic Inquiry, Western Economic Association International, vol. 11(3), pages 270-284, September.
    8. Michal Antoszewski, 2017. "Panel estimation of sectoral substitution elasticities for CES production functions," EcoMod2017 10160, EcoMod.
    9. Andrei Polbin & Sergey Drobyshevsky, 2014. "Developing a Dynamic Stochastic Model of General Equilibrium for the Russian Economy," Research Paper Series, Gaidar Institute for Economic Policy, issue 166P, pages 156-156.
    10. M. Ayhan Kose & Raymond Riezman, 2013. "Trade shocks and macroeconomic fluctuations in Africa," World Scientific Book Chapters, in: Raymond Riezman (ed.), International Trade Agreements and Political Economy, chapter 19, pages 369-394, World Scientific Publishing Co. Pte. Ltd..
    11. Frédéric Reynès, 2017. "The Cobb-Douglas function as a flexible function. Analysing the substitution between capital, labor and energy," Documents de Travail de l'OFCE 2017-12, Observatoire Francais des Conjonctures Economiques (OFCE).
    12. Fitzenberger, Bernd & Kohn, Karsten, 2006. "Skill Wage Premia, Employment, and Cohort Effects: Are Workers in Germany All of the Same Type?," IZA Discussion Papers 2185, Institute of Labor Economics (IZA).
    13. Giovanni Facchini & Marcelo Olarreaga & Peri Silva & Gerald Willmann, 2010. "Substitutability and Protectionism: Latin America's Trade Policy and Imports from China and India," The World Bank Economic Review, World Bank Group, vol. 24(3), pages 446-473, June.
    14. Rotunno, Lorenzo & Wood, Adrian, 2020. "Wage inequality and skill supplies in a globalised world," Journal of Comparative Economics, Elsevier, vol. 48(3), pages 529-547.
    15. Edwards, Brian K. & Howitt, Richard E. & Flaim, Silvio J., 1996. "Fuel, crop, and water substitution in irrigated agriculture," Resource and Energy Economics, Elsevier, vol. 18(3), pages 311-331, October.
    16. Michael Bar & Moshe Hazan & Oksana Leukhina & David Weiss & Hosny Zoabi, 2018. "Why did rich families increase their fertility? Inequality and marketization of child care," Journal of Economic Growth, Springer, vol. 23(4), pages 427-463, December.
    17. Fong-Lin Chu & Jack Hou, 1998. "An extension of currency substitution into the near monies framework: a case for Canada," Applied Economics, Taylor & Francis Journals, vol. 30(7), pages 845-851.
    18. Rambonilaza, Mbolatiana, 2004. "Normes sociales et productivité dans le processus d’appariement des contrats agricoles," L'Actualité Economique, Société Canadienne de Science Economique, vol. 80(4), pages 571-592, Décembre.
    19. Frédéric Reynès, 2011. "The cobb-douglas function as an approximation of other functions," Working Papers hal-01069515, HAL.
    20. Lorenzo Rotunno & Adrian Wood, 2015. "Wages and endowments in a globalised world," Economics Papers 2015-W11, Economics Group, Nuffield College, University of Oxford.

    More about this item

    Keywords

    Demand and Price Analysis;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ags:ajaeau:22333. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: AgEcon Search (email available below). General contact details of provider: https://edirc.repec.org/data/aaresea.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.