IDEAS home Printed from
MyIDEAS: Log in (now much improved!) to save this article

Production And Income Uncertainty In The Wool Industry: An Aggregative Approach

Listed author(s):
  • Alan A. Powell

Production instability has been rightly regarded as one of the key problems of Australian agriculture. Campbell has emphasised that little attention has been focussed on reducing fluctuations in output as a means of cushioning income variations, although a great deal of interest has been taken in various measures designed to stabilize price. (l) An attempt is made in this paper to split up total variability of aggregate wool income into two components: the first corresponding to production uncertainty, and the second to price uncertainty. It is only by this sort of approach that we are in a position to gauge the possible effectiveness of any scheme designed to stabilize aggregate income, whether such a scheme act through price or output. This analysis suggests that over the last thirty years production instability has been of very much less significance than shifts in overseas demand in accounting for fluctuations in aggregate wool income, (2) confirming the views taken by Blau, (3) McMillan( 4) and Lewis. (5) It also highlights the critical dependence of Australian export income on overseas demand conditions.

(This abstract was borrowed from another version of this item.)

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

File URL:
Download Restriction: Access to full text is restricted to subscribers.

As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.

Article provided by Australian Agricultural and Resource Economics Society in its journal Australian Journal of Agricultural and Resource Economics.

Volume (Year): 4 (1960)
Issue (Month): 1 (June)
Pages: 86-96

in new window

Handle: RePEc:bla:ajarec:v:4:y:1960:i:1:p:86-96
DOI: j.1467-8489.1960.tb00269.x
Contact details of provider: Postal:
AARES Central Office Manager, Crawford School of Public Policy, ANU, Canberra ACT 0200

Phone: 0409 032 338
Web page:

More information through EDIRC

Order Information: Web:

No references listed on IDEAS
You can help add them by filling out this form.

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

When requesting a correction, please mention this item's handle: RePEc:bla:ajarec:v:4:y:1960:i:1:p:86-96. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Wiley-Blackwell Digital Licensing)

or (Christopher F. Baum)

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 references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link 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 profile, as there may be some citations waiting for confirmation.

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

This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.