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Stationarity Assumptions and Technical Change in Supply Response Analysis

Author

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  • McClelland, John W.
  • Vroomen, Harry

Abstract

Proper stationarity assumptions (trend stationarity or difference stationarity)are important for modeling agricultural supply response in the context of time series analysis Test reults show that the assumption of trend stationarity should be a tested rather than a maintained hypothesis We discuss implications of model misspeceification in the interpretation of trend line regression coefficients as a proxy for technical change The analysis suggests a more careful consideration of stationarity assumptions when this method is employed in the future

Suggested Citation

  • McClelland, John W. & Vroomen, Harry, 1988. "Stationarity Assumptions and Technical Change in Supply Response Analysis," Journal of Agricultural Economics Research, United States Department of Agriculture, Economic Research Service, issue 4.
  • Handle: RePEc:ags:uersja:137570
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    File URL: http://purl.umn.edu/137570
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    Cited by:

    1. Ball, V. Eldon & Moss, Charles B. & Erickson, Kenneth W. & Nehring, Richard F., 2003. "Modeling Supply Response In A Multiproduct Framework Revisited: The Nexus Of Empirics And Economics," 2003 Annual meeting, July 27-30, Montreal, Canada 21981, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).

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