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Agricultural Supply Response in the Argentinean Economy

Author

Listed:
  • Alberto Herrou-Aragón

    (Consultor Internacional)

Abstract

This paper estimates a reduced-form agricultural supply function for the Argentinean economy within the framework of a general equilibrium model. The results of the estimation using data covering the years 1939-1984 show that there is a statistically significant long-run supply price elasticity of agricultural output of about 1.3, and that the convergence to an equilibrium state is achieved in about nine years. The estimated agricultural supply price elasticity is found to be about three times larger than previous estimates using partial equilibrium models.

Suggested Citation

  • Alberto Herrou-Aragón, 2007. "Agricultural Supply Response in the Argentinean Economy," Económica, Departamento de Economía, Facultad de Ciencias Económicas, Universidad Nacional de La Plata, vol. 0(1-2), pages 73-100, January-D.
  • Handle: RePEc:lap:journl:556
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    More about this item

    Keywords

    General equilibrium; Minkowski matrix; cointegration analysis; Bartlett correction factor; eigenvalue stability tests;

    JEL classification:

    • C01 - Mathematical and Quantitative Methods - - General - - - Econometrics
    • O13 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Agriculture; Natural Resources; Environment; Other Primary Products
    • O54 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Latin America; Caribbean

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