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Some Comparisons of Recent Estimates of Agricultural Supply Elasticities for the Australian Economy

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  • Adams, Philip D.

Abstract

An accurate knowledge of the supply responsiveness of agricultural exporting industries is crucial if sensible judgements are to be made about diverse policy initiatives, including initiatives having no obvious connection with agriculture. In this paper we compare some recent estimates of short-run supply elasticities for agricultural commodities in the Australian economy. Our attention is focussed particularly on the different types of production technologies and econometric methods used to derive values for these elasticities.

Suggested Citation

  • Adams, Philip D., 1988. "Some Comparisons of Recent Estimates of Agricultural Supply Elasticities for the Australian Economy," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 56(03), December.
  • Handle: RePEc:ags:remaae:12276
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    References listed on IDEAS

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    1. Fisher, Brian S. & Munro, Robyn G., 1983. "Supply Response In The Australian Extensive Livestock And Cropping Industries: A Study Of Intentions And Expectations," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 27(01), April.
    2. Randal R. Rucker & Oscar R. Burt & Jeffrey T. LaFrance, 1984. "An Econometric Model of Cattle Inventories," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 66(2), pages 131-144.
    3. Vincent, David P & Dixon, Peter B & Powell, Alan A, 1980. "The Estimation of Supply Response in Australian Agrucilture: The CRESH/CRETH Production System," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 21(1), pages 221-242, February.
    4. Wall, Charles A. & Fisher, Brian S., 1988. "Supply Response and the Theory of Production and Profit Functions," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 56(03), December.
    5. McKay, Lloyd & Lawrence, Denis & Vlastuin, Chris, 1983. "Profit, Output Supply, and Input Demand Functions for Multiproduct Firms: The Case of Australian Agriculture," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 24(2), pages 323-339, June.
    6. Adams, Philip D., 1987. "Agricultural Supply Response in ORANI," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 55(03), December.
    7. Hall, Nigel H. & Fraser, L. & Purtill, A., 1988. "Supply Response in Broadacre Agriculture," 1988 Conference (32nd), February 8-11, 1988, Melbourne, Australia 144033, Australian Agricultural and Resource Economics Society.
    8. Byron, R P, 1970. "The Restricted Aitken Estimation of Sets of Demand Relations," Econometrica, Econometric Society, vol. 38(6), pages 816-830, November.
    9. Peter B. Dixon & David P. Vincent & Alan A. Powell, 1976. "Factor Demand and Product Supply Relations in Australian Agriculture : The CRESH/CRETH Production System," Centre of Policy Studies/IMPACT Centre Working Papers op-08, Victoria University, Centre of Policy Studies/IMPACT Centre.
    10. Watts, Geof & Quiggin, John C., 1984. "A Note on the Use of a Logarithmic Time Trend," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 52(02), August.
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    Cited by:

    1. Culas, Richard J., 2011. "Area response in wheat production: The Australian wheat-sheep zone," AFBM Journal, Australasian Farm Business Management Network, vol. 8(1).
    2. Kingwell, Ross S., 1994. "Effects of Tactical Responses and Risk Aversion on Farm Wheat Supply," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 62(01), April.
    3. Culas, Richard J., 2014. "Determinants of land use in wheat production: The Australian wheat-sheep zone," 2014 Conference (58th), February 4-7, 2014, Port Maquarie, Australia 165826, Australian Agricultural and Resource Economics Society.
    4. H. Ahammad & N. Islam, 1999. "Estimating the WA Agricultural Production System: A profit function approach," Economics Discussion / Working Papers 99-11, The University of Western Australia, Department of Economics.
    5. Kingwell, Ross, 1996. "Programming models of farm supply response: The impact of specification errors," Agricultural Systems, Elsevier, vol. 50(3), pages 307-324.
    6. 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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    Keywords

    Demand and Price Analysis;

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