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The Impact of Energy Prices on Optimum Machinery Size and the Structure of Agriculture: A Georgia Example

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  • Musser, Wesley N.
  • Marable, Ulysses

Abstract

In analyzing the impact of recent energy price increases on agriculture, agricultural economists have suggested the possibility of substitution of labor for farm machinery inputs [3, pp. 881-833] [17, pp. 195-196]. Since large energy input is embodied in farm machinery [14, p. 195], energy-price increases not only raised costs of machinery fuel, but also provided a cost-push effect on other fixed and variable machinery cost components. However, these potential price incentives have not been sufficient to reverse aggregate historical trends towards larger equipment in current machinery purchases [11, 15]. Understanding the nature of recent shifts in optimum machinery size on different farm sizes is important for consideration of future farm size and labor-capital structure of agriculture.

Suggested Citation

  • Musser, Wesley N. & Marable, Ulysses, 1976. "The Impact of Energy Prices on Optimum Machinery Size and the Structure of Agriculture: A Georgia Example," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 8(1), pages 205-211, July.
    • Handle: RePEc:cup:jagaec:v:8:y:1976:i:01:p:205-211_01
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    1. Pagoulatos, Angelos & Timmons, John F., 1977. "Alternative Scenarios Of Energy Use In U.S. Crop Production," Southern Journal of Agricultural Economics, Southern Agricultural Economics Association, vol. 9(2), pages 1-8, December.
    2. Kliebenstein, James B. & Farthing, Douglas C., 1979. "Impacts of Fuel Pricing and Non-Price Allocation Scenarios On High and Low Risk Crop Producers," 1979 Annual Meeting, July 29-August 1, Pullman, Washington 278181, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    3. Tew, Bernard V. & Spurlock, Stan & Musser, Wesley N. & Miller, Bill R., 1980. "Some Evidence on Pecuniary Economies of Size for Farm Firms," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 12(1), pages 151-154, July.
    4. Hatch, L. Upton & Musser, Wesley N., 1980. "Some Evidence on the Relationship Between Loan Insurance and the Supply of Agricultural Credit From Commercial Banks," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 12(2), pages 25-29, December.
    5. Kliebenstein, James B. & Chavas, Jean-Paul, 1977. "Adjustments of Midwest Grain Farm Businesses in Response to Increases in Petroleum Energy Prices," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 9(2), pages 143-148, December.
    6. Kliebenstein, James B. & Farthing, Douglas C., 1979. "Impacts of Fuel Pricing and Non-Price Allocation Scenarios On High and Low Risk Crop Producers," 1979 Annual Meeting, July 29-August 1, Pullman, Washington 277840, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).

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